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The history of oil exploration in Nigeria goes back to 1903, when the Nigerian Bitumen Corporation conducted exploratory work in the country. At the onset of World War I, the firm's operations were stopped. Due to lack of technological and financial resources of small oil companies, large and strong other oil companies took over the exploration ...
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The Nigerian National Petroleum Company (NNPC) Limited is a state-owned oil company in Nigeria. Still a fully-owned government company, it was transformed from a corporation into a limited liability company in July 2022. [1] NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
Aiteo’s acquisition of Shell’s assets, specifically OML 29 and the Nembe Creek Trunk Line, was a significant event in the Nigerian petroleum sector. [13] The transaction was finalized in the third quarter of 2014 and had a transformative impact on both Aiteo and the Nigerian oil and gas industry.
An aircraft flies to drop fire retardant over the area of a wildfire burning near Pacific Palisades on the west side of Los Angeles during a weather driven windstorm on Jan. 7, 2025. Watch live ...
LONDON (Reuters) -Nigeria is off the hook for an $11 billion damages bill over a collapsed gas processing project that was procured by bribery after the award was thrown out by London's High Court.
The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria.When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
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