The Lagos Deep Off Shore Logistics (LADOL) base has concluded plans to commence the construction of a Floating Production Storage Off-loading (FPSO) integrated platform for Egina project, the Nigerian newspaper Vanguard reported on October 17.
Nigerian-owned oil companies are boosting their share of the country’s output by taking up fields in restive areas as international energy companies retreat, Ecobank Research said.
Chevron Corp. (CVX) pulled out of Nigeria’s Olokola liquefied natural gas plant venture, becoming at least the second partner to withdraw from the project.
British police are investigating a money-laundering allegation related to a big oil field bought by Shell and ENI from Nigeria for $1.3 billion (€984 million), after most of the cash they paid ended up in a company linked to a former Nigerian oil minister.
Nigeria should revoke oil rights for which Royal Dutch Shell Plc (RDSA) and Eni SpA (ENI) paid $1.1 billion, a parliamentary committee said, alleging that the acquisition process was “highly flawed.”
AFP reports that a Nigerian agency that has blockaded liquefied natural gas exports for three weeks, costing $475 million in revenue, agreed Friday to end its action after resolving a fees dispute, the company said.
U.S. energy firm Chevron is selling its stake in Nigerian shallow water oil blocks OML 83 and OML 85, the company said on Tuesday, the latest oil major seeking to sell assets in Africa's biggest oil producer.