One of Nigeria’s largest independent oil and gas producers spent more than $450 million on goods and services provided by companies linked to its two founders over 12 years, most of it after the firm publicly listed in London and Lagos in 2014.
Nigeria’s oil production has slipped below the 1 million barrel per day mark, according to new data from the upstream regulator. The decline in August has seen Nigeria fall to fourth largest producer in Africa, from first.
A Nigerian law enforcement agency has launched an investigation into its own officers following reports that they were extorting independent fuel suppliers.
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
Japan’s JERA and Germany’s Uniper have teamed up to back an ammonia project in the US Gulf Coast, with a focus on exports to Germany. In the near term, it should also secure new LNG supplies.