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Oil & Gas

The Addax Petroleum licence revocation, reversal

By Ojie Ejemhen In the past one month, the Nigerian media space has been awash with incredible news primarily about the politics of the recent revocation and reversal as well as the restoration by the Presidency of Oil Mining Licences (OMLs) 123, 124, 126 and 137, operated by Swiss-based Addax …

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NNPC to resume oil exploration in Sokoto Basin

The Nigerian National Petroleum Corporation on Thursday announced plans to resume active oil exploration in Sokoto Basin. A statement issued in Abuja on Thursday by NNPC spokesperson, Kennie Obateru, said the corporation’s Group Managing Director, Mele Kyari, said exploration for crude would resume in the Sokoto Basin. The statement read …

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OPEC+ eases oil supply from May to boost economy

The 15th Meeting of OPEC and non-OPEC Ministers has agreed to increase oil production gradually from May to July, responding to both internal and external pressure to supply more crude to the recovering global economy. The meeting which was chaired by Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of …

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