36 oil blocks under concession to IOCs, others, says NNPCL
The blocks are classified into Oil Prospecting Licence and Oil Mining Licence. An OPL is granted by the government to an applicant company registered for exploration and production purposes,
Tag: Oil
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OPEC in trouble as oil outlook worsens
OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some long-shuttered oil ports have been reopened, along with the fields that feed them.
Nigeria’s economy after oil: How should we prepare?
By Bode Agusto Crude oil is one of the principal sources of energy to the World. In 2018, its market share was 34%, other principal sources of energy were Coal and Natural gas with market shares of 27% and 24% respectively. What does crude oil do for the World?It helps us to transport our vehicles,…
Oil Bunkering: Nigerian Navy hands over 57 Nigerians, 7 Sri-Lankans, 2 Ghanaians to EFCC
The Nigerian Navy (NN) on Friday handed over 57 Nigerians, seven Sri-Lankans and two Ghanaians, suspected to be involved in oil bunkering, to the Economic and Financial Crimes Commission (EFCC). The News Agency of Nigeria (NAN) also reports that the seven vessels, involved in the oil bunkering and having no valid approval, were arrested by…
Oil, gas investment opportunities abound in Africa —Seplat Director
Seplat Petroleum Development Company Plc’s Operations Director, Mr Effiong Okon, has stated that Africa is the destination for gas development and investment. He gave this insight in his keynote address at the Africa E & P Summit held in London recently. The Africa E&P Summit is a landmark event on Africa, which brings together key…