Wednesday, June 7, 2023


Emefiele meets Tinubu at Aso Rock

Wale Edun, former Lagos Finance Commissioner; and James Faleke, a House of Reps member, were also at the villa.

NEPL takes over 100% ownership of OML11, seven others

The NNPC Exploration and Production Limited (NEPL), a Subsidiary of the Nigeria National Petroleum Company (NNPC) Limited, has announced take over of...

Nigeria flags off oil drilling in Chad Basin

The outgoing President Muhammadu Buhari, in virtual session on Tuesday flagged off the Wadi-B Drilling Campaign, Chad Basin, Tuba Community, Jere Local Government Area, Borno State, as Mele Kyari, Mele Kyari, Group Chief Executive Officer (GCEO) NNPCL, and Professor Babagana Zulum, Governor of Borno State were on ground to launch the commencement of the drilling exercise.

NNPC pays IOCs $3.8bn JV cash call debt

He disclosed that the company had leveraged its financial autonomy derived from the PIA to work out and execute a payment plan for the cash call debt while balancing its energy security obligations to the nation.

Appeal court suspends enforcement of Interim Orders against Seplat, Officers

Appeal court suspends enforcement of Interim Orders against Seplat, Officers Seplat Energy announced on Monday that the Court of Appeal of Nigeria, sitting in Abuja, has suspended the ex parte Interim Orders granted on 11 May 2023. The interim order was granted by the Justice I.E. Ekwo of the Federal High Court, Abuja in suit number FHC/ABJ/CS/626/2023 – Juliet Gbaka & 2 others v. Seplat Energy Plc & 13 others, and served on the Company on 12 May 2023. The Court subsequently adjourned pending applications to 30 May 2023 for hearing. The Interim Orders were made pursuant to a petition which was the third in a series of duplicative petitions filed by minority shareholders between March and April 2023. The Interim Orders primarily restrained the Board Chairman, named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company, and directed the Securities & Exchange Commission to appoint suitable persons to run the affairs of the Company. According to the the company’s board chairman, Basil Omiyi, Seplat Energy remains confident that the courts will appropriately address the frivolous litigations brought by a combination of 13 minority shareholders holding less than 800 shares out of 589 million shares (or 0.0001% of the Company’s issued shares). This announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule).

Six vandals with illegal 700 barrels oil barge arrested

In yet another milestone in the ongoing fight against crude oil theft in the country, the NNPC Limited and its partners, said...

Seplat Energy’s $951.8m revenue excite shareholders

In his address to shareholders and other stakeholders during meeting, Mr. Basil Omiyi, the Chairman of Board, Seplat Energy, said for the 2022 full year, the Company’s total revenue rose by 29.8 per cent to $951.8m while profit before tax rose by 15.3 per cent to $204.4m.

Shell wins Niger Delta oil spill case in UK

On December 20, 2011, there were allegations that an estimated 40,000 barrels of crude oil leaked when a tanker was loaded at Shell’s Bonga oilfield, 120km off the coast of Nigeria’s Niger Delta.

NGML, TGNL Commission Ibefun 150mmscf/d Gas City Gate

According to the Group chief executive officer, NNPC, Mele Kyari, the project will promote and integrate the use of gas domestically and generate power for industries which will eventually lead to economic growth and prosperity for the people, not only in Ogun State but also in Nigeria generally.

ExxonMobil lifts force majeure on Qua Iboe oil terminal

In a statement, NNPC said the resolution would free up approximately 300,000 b/d of crude and condensate to be exported and that it would help Nigeria reach 1.8 million b/d of crude output by the end of 2023.
- Advertisment -

Most Read

Emefiele meets Tinubu at Aso Rock

Wale Edun, former Lagos Finance Commissioner; and James Faleke, a House of Reps member, were also at the villa.

Oil marketers endorse fuel subsidy removal, pledge minimal adjustments 

We once again laud President Tinubu for his bold vision and stand ready to collaborate with his administration in its effort to promote greater economic equality and prosperity for all Nigerians.

Firm unveils 20KG composite cooking gas cylinders to Nigerian Market

According to him, the 20kg LPG cylinder goes for N75,000 due to increase in foreign exchange and is also more competitive.

Allegation of illegal sale of 48m barrels of crude false, Malami insists

Recall that the minister took the same position when he first appeared before the panel on April 27, 2023 to give testimony.