Local firm acquires Mobil Oil’s downstream business
The Managing Director of NIPCO, Venkataraman Venkatapathy, said in a statement that the acquisition was agreed with the execution of a sales and purchase agreement with ExxonMobil, a leading downstream player.
Samagbeyi: Selling assets will provide cheap funds to finance budget
As rightly stated in 2015 by the Central Bank Governor, Godwin Emefiele, one way in which government can generate some form of revenue will be through the sale of some of its assets.
PIB delay, low oil prices impede Nigeria’s 1.124m bpd projects
Planned projects in Nigeria, which are expected to add about 1.124 million barrels per day to the country’s crude oil production, have either been deferred or suspended due to the low crude oil prices and the delay in the passage of the Petroleum Industry Bill (PIB).
ExxonMobil profits plunge on low oil prices
ExxonMobil reported Friday that second-quarter earnings plunged nearly 60 percent due to low oil prices and weak refining margins.
Oil majors auction $37m in $60m forex demand
The long-awaited dollar supply from multinationals and foreign currency earning-firms to the newly-inaugurated inter-bank foreign exchange market under the flexible rate policy was realised yesterday ...
Group drags oil firms to NHRC, demands N34 trillion compensation
The Akwa Ibom Oil Producing Network has taken eight oil companies operating in the state before the National Human Rights Commission special investigation panel, demanding N34 trillion as compensation for oil spills.