Vitol and Seplat Petroleum are among nine companies bidding to construct new oil refineries in Nigeria as Africa’s top crude producer seeks to boost output of refined fuel and end its dependence on imports, an official said.
Investigators have visited oil major Shell's headquarters in the Hague in relation to a Nigerian offshore oil field.
Nigeria has arrested a person suspected of having bombed an oil pipeline belonging to Italy's ENI in the southern Delta region, the commander of a state security force said on Wednesday.
MX Oil said it has allowed GEC Petroleum Development Company (GPDC) additional time to put financing in place as it looks to acquire investment in the Aje field, offshore Nigeria.
A committee set up by Nigerian President Muhammadu Buhari to investigate the awarding of security contracts from 2011 to 2015 has found as much as 123 billion naira ($618 million) in fraudulent payments could be recovered, the government said.
Nigeria's state oil company failed to transfer 4.9 trillion naira ($25 billion) to the public purse between January 2011 and December 2015, an official body said today.
Nigerian President Muhammadu Buhari has urged banks in his country to boost lending to agriculture as the region looks to diversify away from oil and gas.
Oil major Shell has invested in a new subsurface research centre in Nigeria to help boost the country's further development in the oil and gas industry.
MX Oil today confirmed it has successfully raised £2.5million by placing 333,333,333 ordinary shares at a price of 0.75 pence per share.
As canoes glide past mangroves blackened by oil in the Niger River delta, two dozen children splash around in a creek covered by a sheen of crude while families take shelter from the punishing midday sun in half-built houses.
Oil headed for the longest run of weekly gains since May as Nigeria said key members of OPEC intend to meet with other producers in Russia this month to renew talks on an agreement to freeze output.
Nigeria's Petroleum Minister said some OPEC members plant to meet with other producers in Russia later this month.
Tens of thousands of Nigerian fishermen and farmers are suing multinational oil giant Shell in two new lawsuits in a British court alleging decades of uncleaned oil spills have destroyed their lives.
Nigeria is deploying more troops to protect oil installations to curb sabotage after a leak forced crude loadings to be suspended last month at a major export terminal.
MX Oilhas agreed terms on the sale of its investment in the Aje field offshore Nigeria to GEC Petroleum Development.
French oil services company Bourbon continues to liase with the families of two crew members kidnapped from its Bourbon Liberty 251 supply vessel off the coast of Nigeria.
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their lost market share due to sanctions and war.
Guaranty Trust Bank Plc, Nigeria’s largest lender by market value, said it will target the consumer industry and small to medium-sized companies for growth as a plunge in oil prices and foreign-exchange restrictions limit opportunities in the West African nation.
San Leon Energy will submit its payment for the acquisition of Canada's Mart Resources later than originally planned it confirmed today.
Oil major Shell has launched an investigation into the source of a crude oil spill observed around water at the Forcados Terminal in Nigeria.
Eland Oil & Gas said it aims to significantly improve production from the Opuama field at a low cost by conducting workovers on its existing wells.
Nigeria has recommitted itself to meeting its target for the year of boosting daily oil production amid its current challenges.
Nigerian President Muhammadu Buhari’s 2016 budget proposals are riddled with errors and provisions that may undermine his anti-graft war, civic groups say. In some instances, the same purchase of vehicles, computers and furniture are replicated 24 times, totaling 46.5 billion naira ($234 million), 795 million naira is set aside to update the website of one ministry, while no purpose is assigned to a 10 billion naira provision in the education ministry’s spending plan, according to Oluseun Onigbinde, partner and co-founder of BudgIT, a Nigerian group that campaigns for transparency in public spending.
MX Oil has signed terms with an international oil and gas group to buy its Nigerian assets in the proven offshore Aje field.
Oil major Chevron has handed over the producing assets in a number of oil mining leases to Seplat Petroleum Development Company following a Supreme Court judgement.