As the country continues to grapple with Covid-19, President Muhammadu Buhari has been hoping to generate cash from a marginal field bid that looks at last about to close. The Department of Petroleum Resources has sent the first letters to inform the successful bidders of its choice. Terra Energy Services receives hers.

The Department of Petroleum Resources (DPR) oversaw the marginal field round, which began in June 2020. DPR director Sarki Auwalu set out production expectations on May 26, during talks in Lagos. “We expect first oil from most of the marginal fields, for which we just concluded the bid round, around January 2022,” he said, according…

After careful evaluation of government guidelines and consultation with our customers, Africa Oil Week 2021, originally scheduled from 1-5 November in Cape Town, South Africa will be moving dates and location and will now take place in Dubai (United Arab Emirates) on 8-11 November 2021 in the Madinat Jumeirah. Delivering the event to the high…

Hyve Group Plc, organizers of Africa Oil Week have confirmed that business opportunities and discussions at the 2021 edition will remain focused on driving investment into Africa for its sustainable socioeconomic development, as it has done for the past 27 years. The event which will temporarily move to Dubai for 2021 due to COVID-19 restrictions…

Oil majors in Nigeria have hinged their investment decisions on the outcome of the Petroleum Industry Bill (PIB), and other fiscal frameworks by the Federal Government. According to them, the country did not take any major investment decision in deepwater between 2015 and 2019, despite a number of available potentially viable projects. The African Energy…

Shell Petroleum Development Company of Nigeria Limited has declared force majeure on exports of Bonny Light crude, one of the country’s major sources of oil revenue. Force majeure is a legal clause that allows companies to cancel or delay deliveries due to unforeseen circumstances. Reuters quoted traders as saying that a surplus of unsold cargoes…

Data obtained from oilprice.com confirms that Nigeria’s flagship crude closed at $41.80 on June 19, reaching a four-month high, since early March 9, where its price fell to $37.22. This surge was triggered by oil production cut and growing oil demand for Nigeria’s black gold. “You’re going to see more OPEC compliance,” Phil Flynn, senior…

The suit, filed in the English courts in 2017, relates to the purchase of the offshore OPL 245 oilfield in Nigeria by oil majors, Royal Dutch Shell, and Eni in 2011, which is the subject of an ongoing trial in Milan, Italy. The six-week London trial will start on the first available date after November…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

Working from home meant we could vary snack and coffee breaks, change our desks or view, goof off, drink on the job, even spend the day in pajamas, and often meet to gossip or share ideas. On the other hand, we bossed ourselves around, set impossible goals, and demanded longer hours than office jobs usually…

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