Vice President Kashim Shettima has welcomed ExxonMobil’s proposed $10 billion investment in Nigeria’s deep-water oil operations, describing it as a clear testament to the administration’s economic reforms and investment-friendly policies. This is coming just as the international maritime giant, DP World, has announced plans to develop a multibillion-dollar port project in Nigeria. The Vice President stated this on Wednesday during …

President Bola Tinubu has said that Nigeria would no longer settle for crumbs and leftovers on the investment agenda of the world’s most prolific energy conglomerates. Playing host to a delegation of global leadership of an oil and gas transnational giant, ExxonMobil, on Monday in New York, United States, the President said: “Nigeria has never been more ready for business …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has countered the allegation by its sister regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) that ExxonMobil was lifting butane illegally at Bonny River Offshore Terminal (BRT). In letters to the Ministry of Petroleum Resources and Chief of Defence Staff, General Lucky Irabor, NMDPRA had alleged that ExxonMobil Corporation was involved …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has asked for the detention of Vessel Barumk Gas for illegally lifting Butane at Bonny River Terminal. In a letter to the Chief of Defence Staff dated 8th June 2023, signed by the Chief Executive, Engr. Farouk Ahmed, the authority accused oil giant ExxonMobil of collaborating with the vessel owners to …

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has affirmed that the status quo remains in respect of ExxonMobil/Seplat Energy share acquisition. Responding to media enquiries on the latest development about the transaction, NUPRC Chief Executive, Engr. Gbenga Komolafe clarified that,  in line with the provisions of the Petroleum Industry Act 2021, the commission is the sole regulator in dealing with …