Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. Vanguard has reported. The Anglo-Dutch petrochemical giant is in talks about selling its oil mining licenses 11 and 17, reports confirmed. Sources close to the matter revealed that…
By Energy Worth The Federal Capital Territory (FCT) Minister, Muhammad Bello, on Friday, announced that all quarrying/mining activities and borehole drilling be suspended forthwith in the areas affected by the recent earth tremor. Affected by the quarrying/mining and borehole drilling suspension are Mpape, Gwarimpa and Garki districts. The suspension will subsist pending the outcome of…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) on Friday, allayed fears of possible hitch in petroleum products supply in parts of the country, stating that it has already commenced moves to resolve the issue that might lead to an interference in supply fuel. This, according to a statement by the corporation in Abuja,…
By Tsvetana Paraskova A joint panel of OPEC and non-OPEC representatives will discuss next Tuesday how the group could distribute among them the 1 million bpd production increase that was agreed in June Reuters reported on Friday, citing sources familiar with the plans. OPEC and its Russia-led partners of non-OPEC producers in the production cut…
