Nigeria Wants to Attract Russian Companies to Oil and Gas Projects
Nigeria should involve Russian companies in its projects for the exploration and development of oil and gas fields, Director General of the Women‘s Chamber of Commerce, Industry, Mining and Agriculture of Nigeria Oritseveyinmi Eribo told RIA Novosti. In June 2023, the Permanent Secretary of the Ministry of Petroleum and Natural …
TotalEnergies Is Withdrawing from Africa
The French company TotalEnergies has announced the sale of two oil fields in Nigeria, the leader among African countries in the export of this fuel. We are talking about the Olo and Olo West blocks, which she developed jointly with the Nigerian National Oil Company, Agence Ecofin reported. According to …
Nigeria Holds the Status of the Largest Oil Producer in Africa
Nigeria‘s average daily production at the end of July exceeded 1.6 million barrels per day, compared to 1.25 million barrels per day in June, the Nigerian regulator NUPRC claims. Thus, the West African state retains the status of the largest oil producer on the continent. Nigeria‘s reserves are estimated at 37.5 billion …
TotalEnergies Sells Stake in Nigerian JV for $860 Million
French energy company TotalEnergies is selling its 10% stake in a joint venture (JV) in Nigeria to Chappal Energies for $860 million, according to a TotalEnergies press release. “TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria has signed a sale and purchase agreement with Chappal Energies for the sale of …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …
Libya Overtook Nigeria and Became the First Country in Africa in Terms of Oil Production
For the first time in 10 years, Libya overtook Nigeria and became the first country in Africa in terms of oil production. This was reported by the economic agency Ecofin. “In the current conditions, for the first time in the last 10 years, Nigeria is having difficulty maintaining a stable …
Equinor Sells its Nigerian Business to Chappal Energies
Norwegian state-owned energy company Equinor is selling its Nigerian business to energy company Chappal Energies, Equinor said in a press release. “Equinor and Chappal Energies have entered into an agreement to sell to Equinor Nigeria Energy Company (ENEC), which owns a 53.85% stake in the OML 128 oil and gas …
Eni to Continue Operating FPSO Abo Offshore Nigeria
Nigerian Agip Exploration (NAE, a subsidiary of Italy’s Eni) has reached an agreement with BW Offshore to extend the lease of a floating oil and gas production, storage and offloading (FPSO) facility operating in a field off the Nigerian continental shelf. This was reported by the press service of BW …
Oil Production in Nigeria Fell by 12% in July
In July, crude oil production in the African country fell by 12.56% to 1.29 million b/d (in June it was 1.48 million b/d). Business Day, citing data from the Nigerian Oil Regulatory Commission, says that one of the main reasons for the decline is the temporary closure of the Forcados …
French TotalEnergies Discovers New Ntokon Oil And Gas Field
The Ntokon oil and gas field was discovered in the OML102 block offshore Nigeria, the press service of TotalEnergies reports. Well Ntokon-1AX: located in shallow water, 60 km from the southeast coast of Nigeria; found: lateral wellbore Ntokon-1G1: – discovered an oil deposit with a thickness of 73 m; – …