The 2007 oil licensing round held last Friday in Abuja has fetched the Federal Government $615.452 million in the form of signature bonuses to be paid by the winning companies that participated in the bidding conference. A report of the … read more
Jackup drilling rig and liftboat operator Hercules Offshore Inc. said Monday it will evacuate all its nonessential expatriate personnel from Nigeria, amid increased attacks in the country on oil workers. Hercules said the move is related to the decision by … read more
Protesters have occupied an oil facility in Nigeria’s restive southern region, causing oil production cuts of 170,000 barrels per day in the latest disruption to hit Africa’s biggest producer, a spokesman for Royal Dutch Shell PLC said on Tuesday. Precious … read more
Nigerian labour unions called for a two-day strike to protest against vote-rigging in last month’s elections, an umbrella body of unions said on Sunday. The Nigeria Labour Congress (NLC) did not give a date for the strike but said it … read more
The Federal Government on Friday accused Shell Petroleum Development Company of Nigeria of using the tactics of intimidation to scare away investors from oil blocks where it had interest in. Shell had obtained an order of a Federal High Court … read more
Rivers State Governor, Dr. Peter Odili, has revoked a multi-million contract for the construction of an access road to the Rivers State Polytechnic at Bori in Khana Local Government Area of the state. The governor announced the termination of the … read more
President Olusegun Obasanjo is due in Bayelsa State on Monday (today) for the ground breaking of the Brass Liquefied Natural Gas project at the coastal Brass Local Government Area of the state. The event is not being publicised in view … read more
Six gunmen wearing military fatigues seized a Nigerian staff member of the Italian oil company Agip on Monday in the Nigeria’s southern petroleum region, police said. The assailants grabbed the human resources manager for Agip, a subsidiary of Italian oil … read more
President-elect, Alhaji Umaru Musa Yar’Adua has intimated of his administration�s plan to introduce a new development plan to solve the problems of underdevelopment facing the Niger Delta states in Nigeria. He also stated that henceforth the Niger Delta problem should … read more
Only around half of 45 oil exploration blocks Nigeria put up for auction Friday attracted bids, with foreigners wary of political uncertainy ahead of a government change, officials said. The vast majority of those who submitted bids Friday were domestic … read more