As the nation waits anxiously for the May 29, swearing in of Muhammadu Buhari, as Nigeria’s next president, experts in the oil industry have set for him an agenda aimed at restructuring the sector, which […]
The Independent Petroleum Marketers Association of Nigerian, Mosimi, Ogun State has said that it would be too difficult for the President-elect, Gen. Muhamadu Buhari to reduce the petroleum pump price to N40 per litre.
HOUSTON (Bloomberg) — Schlumberger Ltd. reported its lowest first-quarter profit in four years and announced further 11,000 job cuts after customers slashed spending in response to tumbling crude prices.
Nigerian oil and gas exploration and production company Seplat Petroleum announced on Thursday that its 2014 pretax profit dropped to $252 million, down 54 percent from $550 million a year ago, as the price of […]
Italy’s Saipem S.p.A. disclosed Wednesday that it has entered into a Joint Venture with Dangote Group, one of Africa’s leading companies, to create a new company named Saipem Dangote E&C. Saipem Dangote E&C is a […]
Total has completed the divestment of its stake in onshore Oil Mining Lease (OML) 29 to Aiteo Eastern E&P, a Nigerian company, for $569 million. Together with the recently completed divestments of OML 24 and […]