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24.04.2014 Nigeria awards oil contracts to local firms

Nigeria has awarded most of its long-term oil contracts worth an estimated $40 billion a year to local companies, according to a confidential list seen by Reuters, meaning global traders need to partner with them to access crude from Africa's top producer, Reuters said o

18.04.2014 Afren to boost oil production in three Nigerian fields

Afren Plc has concluded plans to boost production in three fields, Nigerian Tribune reported on April 17.

19.03.2014 Nigeria’s crude reserves decline by 2bn barrels

The Department of Petroleum Resources (DPR) on March 18 disclosed that Nigeria’s crude oil reserves currently stand at 35 billion barrels (bb), thus dropping by 2bb (about 5.4 per cent) from 37bb that it was, This Day Live has reported.

17.03.2014 Nigeria destroys 260 illegal oil refineries

The Nigerian Navy said it has destroyed 260 illegal oil refineries and burned 100,000 tons of contraband fuel, but critics say this targeting of small-time criminals fails to confront the biggest culprits in oil thefts — the politically-connected criminal cartels who sel

14.03.2014 Nigeria upbeat on Chad basin

The Nigerian Federal Government on March 13 in Abuja said that oil discovery in the Nigerian sedimentary basin in Chad was achievable, Leadership has reported.

28.02.2014 Shell closes major pipeline in Nigeria

Shell Nigeria says it has closed a 6,000-kilometer (3,700-mile) oil pipeline to repair leaks from oil theft, AP reported on February 27.

07.02.2014 Eland resumes production at Nigeria's Opuama oil field

Scottish energy company Eland Oil & Gas said it started oil production from the Opuama oil field in Nigeria, said to contain 54 million barrels of oil, UPI reported on February 6.

21.01.2014 Nigeria advertises bill to attract investors

As Nigeria's government prepares to implement the Petroleum Industry Bill that will provide "long-term" investment prospects, the country, which is Africa's largest oil producer, should look for more cooperation in the oil and gas industry with emerging markets such as C

14.01.2014 Chevron's Nigeria oil block sales delayed by legal challenges

Chevron faces delays in closing sales of oil blocks in Nigeria worth up to $1 billion because of legal disputes involving potential buyers, industry sources say, highlighting a risk other oil majors could face, Reuters reported on January 13.

03.01.2014 Nigeria hopes to attract Chinese investors with new petroleum industry bill

As Nigeria's government prepares to carry out the Petroleum Industry Bill (PIB) that will give investors "long-term" investment prospects, the country, which is Africa's largest oil producer, should look into more cooperation in the oil and gas industry with emerging mar