By Seun Ibiyemi The House of Representatives has secured the commitment of seven major oil companies to settle a total debt of $37,435,094.52 (approximately ¦ 58 billion) owed to the country before August. This was disclosed in a statement by…
The Central Bank of Nigeria on Friday, announced that international oil companies can sell their retained 50 per cent of repatriated export proceeds in the Nigerian Foreign Exchange Market. This decision comes after the CBN placed limits on the transfer…
Nigeria reportedly lost N340.87 billion to gas flaring in the first quarter of 2024, as oil and gas firms operating in the country’s oil and gas sector flared 83.9 billion standard cubic feet (BSCF) of gas in three months (January…
The Nigerian Content Development and Monitoring Board (NCDMB) says it has rejected 328 expatriates jobs applications from oil firms. It also said that the board had completed 83 percent of the 96 initiatives under its strategic roadmap target. Manager, Strategy…
The Federal Government, on Tuesday, said it was working to ensure that all local and international oil companies returned to full capacity production of crude oil in Nigeria. Major oil producers in Nigeria have drastically cut down on crude oil…
By Uthman Salami Debts owed by oil companies in Nigeria have surged to over N5.6 trillion following rising vandalism and inability of oil firms to pay back loans raised from banks despite unexpected increase in global crude oil price and…
