International Oil Companies
Communities reject oil firms’ refusal to relocate headquaters to Niger Delta
Communities in the Niger Delta have insisted that international oil companies (IOCs) must relocate their headquarters to the region given the magnitude of their projects and the environmental challenges their operations pose to the people. The leaders of the communities, who spoke to The Guardian yesterday, maintained that it was only fair and logical that…
Emmanuel, Wike seek FG’s presence in South South
• Warn against politicising security • Delta CP canvasses support to fight crime Governor Udom Emmanuel of Akwa Ibom State and Nyesom Wike of Rivers State have identified lack of Federal Government presence in the zone as one of the key reasons why agitations and insecurity seemed prevalent. They spoke yesterday during a public lecture…
Ijaw youths reject FG’s offer on modular refineries
The youths under the Ijaw Youth Council (IYC) worldwide, also called for the relaxation of the preconditions for getting licences, noting that the terms were capable of taking the establishment of the refineries beyond the reach of Niger Delta people.
Oil firms record $17.125 billion earnings in H1 2017
The company announced estimated Q2 2017 earnings of $3.4 billion or $0.78 per diluted share, compared with $1.7 billion a year earlier, as oil and gas realisations increased and refining margins improved.
Government vows to halt oil production if cost remains high
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, says there is no way the country can keep producing, while the prices of crude remain low.
Nigeria’s crude oil production increases by 273,600 bpd
Organisation of the Petroleum Exporting Countries (OPEC), continued to reduce production in April, but output from Africa’s top exporter - Nigeria, increased by 273,600 barrels per day (bpd).
Senate probes alleged fraud in $62.909 billion capital flight
The Senate has begun investigation into alleged fraud in some $62.909 billion capital flight between 2009 and 2014.Accordingly, the searchlight is being beamed on alleged misdeeds in collaboration between a few banks and some International Oil Companies....
Government begins payment of $5.1b cash calls to IoCs next month
The Federal Government will begin payment of $5.1 billion joint venture cash calls to International Oil Companies (IoCs) from next month (April), the Minister of State for Petroleum Resources, Ibe Kachikwu has disclosed.
Enabling environment critical to IOCs relocation to Niger Delta
Stakeholders in Nigeria’s oil and gas sector have emphasized the need for the Federal Government to create an enabling environment to facilitate the relocation of International Oil Companies (IOCs) to the Niger Delta region.
Relocation of IOCs: We have offices, operations in Niger Delta, say shell, total
International Oil Companies (IOCs) operating in the country have said that the issue of relocating their headquarters to the Niger Delta region as directed by the Federal Government, does not arise, as they already have offices and operations in the area.