TotalEnergies plans to invest up to $6 billion in Nigeria, Africa’s largest oil producer, as international oil companies shift focus from onshore to offshore operations. The French company supports the current administration’s policies and efforts to resolve insecurity issues in the industry. Nigeria contributes 8-10% of TotalEnergies’ global output and 18% of its investments, but […]
Nigeria’s UTM Offshore has secured a significant stake in the Yoho Floating Liquefied Natural Gas (FLNG) project, which is close to being sanctioned. The Delta State government, along with state-owned NNPC, will hold a 20%, 72%, and 8% stake in the project. The FLNG vessel will produce over 300,000 metric tonnes of cooking gas (LPG) […]
The Nigerian National Petroleum Corporation (NNPCL) has achieved a milestone by securing a US$3.3 billion crude oil advance facility, making it the largest syndicated loan ever raised by Nigeria in the international market. This financial milestone, supported by the African Export-Import Bank (Afreximbank) and other participating financial institutions, aims to strengthen Nigeria’s macroeconomic stability and […]
Shell is selling its onshore business in Nigeria’s Niger Delta to a consortium of companies for $2.4 billion. The sale is part of Shell’s plan to exit onshore oil production in Nigeria and focus on deepwater and integrated gas investments. The assets are largely owned by the Nigerian government’s national oil company NNPC, which holds […]
Ocean Breeze Petroleum Limited is poised to be a cornerstone of upstream energy infrastructure EPCI contracting, and downstream operations in Nigeria.