Tag
IOCS
The Central Bank of Nigeria (CBN) has issued a circular announcing the immediate suspension of approvals for the...
Julius Rone, the CEO of UTM Offshore, has assured Nigerians that the ongoing divestment by international oil companies (IOCs) will not disrupt plans for Nigeria’s first floating liquefied natural gas (LNG) project.
The country has seen no fresh investment from these IOCs in over a decade, with the last significant deepwater project being the $3.8 billion Egina FPSO project by TotalEnergies in 2013.
The Dangote Refinery reiterated that they are still unable to secure their full crude requirement from domestic production and urged the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) to enforce the domestic supply obligation as mandated by the Petroleum Industry Act (PIA).
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that International Oil Companies (IOCs) are not refusing to sell crude oil to the Dangote refinery.
The federal government, through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has reached an agreement with producers to permit the sale of crude oil to domestic refiners at market prices.
The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can sell 50% balance of their repatriated export proceeds to authorized forex dealers.
Shell should not be allowed to divest from the Niger delta until it takes responsibility for cleaning up its toxic legacy of pollution.
The Naira experienced a decline against the US Dollar in the official market, closing the week at N1,537.96/$1, amidst persistent demand pressures that continued to undermine the currency's value.
NDDC has vowed that it will ensure the debt IOCs operating in the country owed to the NDDC will be paid to the commission’s coffers.
Mr. Simbi Wabote has expressed concerns about the impact of the divestment of onshore oil and gas assets by IOCs on the federal government's tax revenues.
The MoU signed will contribute to Ease of Doing Business, as well as reduce cost and drive efficiency in Nigeria's Oil & Gas Industry. This is according to the NNPCL via its Twitter handle on Monday, September 25.