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NIGERIA

Oil minister Sylva works behind scenes for quick sale of Shell, Exxon, Chevron, Total marginal fields

Minister of State for Petroleum Timipre Sylva. © Reuters

Nigeria has finally embarked on a sell-off of oil fields no longer wanted by oil majors, but the timing is terrible. [...] (425 words)

Issue dated 14/05/2020 Reading time 2 minutes

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Sylva and Buhari keep Petronor and Panoro waiting on Aje

The Nigerian authorities are dragging their feet on signing the Aje deal and, despite the new petroleum act, doing business in Nigeria remains difficult. [...]

Secretary of State for Petroleum Resources Timipre Sylva and the Nigerian president Muhammadu Buhari. © @HETimipreSylva, @MBuhari/Twitter

NIGERIA 09/03/2021

DPR names marginal field winners at last

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 succesful bidders of its choice. [...]

Nigeria's President Muhammadu Buhari. © Tiksa Negeri/Reuters/File Photo

Spotlight

NIGERIA 24/12/2020

Why Buhari is dragging his heels on marginal field awards

The head of state has once again postponed his decision on the 52 marginal fields that he was to award in December, much to the dismay of the increasingly impatient candidates. [...]

NIGERIA 03/12/2020

Buhari to finally announce marginal field winners

The Nigerian president Muhammadu Buhari has finally appended his signature to the document listing the local - and international companies as a partner - chosen to operate one of the blocks covered by the tender call issued in June. [...]

NIGERIA GABON 16/10/2020

Etame Marin/Sasol: Kariya Energy hopes to knock out Vaalco from Nigerian tender

The recently created Houston firm Kariya Energy has set its sights on Gabon and Nigeria. It just hired a consulting firm with very strong connections in Africa. [...]

NIGERIA 28/09/2020

Marginal asset sales: ExxonMobil reshuffles its Lagos management team

The US major has appointed a number of new executives to take charge of the sale of its unwanted fields to Nigerian operators. [...]

NIGERIA 25/09/2020

Marginal fields: signature bonus bonanza eludes Abuja

The Department of Petroleum Resources was counting on $520m from the sale of 52 deposits previously operated by the majors. [...]

Spotlight

NIGERIA 01/07/2020

Marginal fields: who among Buhari's buddies can help bidders win over DPR?

Junior oil firms flocked in their hundreds to bid for one of the 57 marginal fields put up for sale by the Abuja authorities to avoid a financial debacle as the Covid-19 crisis continues. [...]

NIGERIA 03/06/2020

OPL 245 closure boosts Shell confidence with UK courts

Now that the threat of a lawsuit in London over the Malabu affair has lifted, the British-Dutch oil major is standing on firmer ground ahead of another case opened in the United Kingdom. [...]

NIGERIA 21/04/2020

NAPIMS tussles with oil majors Shell/ExxonMobil/Total over cost-cutting

NNPC's local content arm is trying to keep the oil sector profitable by imposing severe cuts in international companies' expenditure, to the detriment of their Nigerian partners. [...]

NIGERIA 07/01/2020

NLNG Train 7 project saves Buhari's non-existent oil & gas record

NLNG was put under immense pressure to get the first large-scale oil project that the current government would have achieved after five years in power launched before 2020. [...]

Spotlight

NIGERIA 03/12/2019

Project Star: Chevron's stealth mission to raise the bids for OMLs 86 and 88

Taking a page from ExxonMobil's book (AEI 851), Chevron would like to trim its Nigerian portfolio by divesting from secondary or aging assets. The plan is to sell these to local firms with enough connections for the Department of Petroleum [. [...]

Spotlight

NIGERIA 22/10/2019

ExxonMobil: why the transfer of its marginal fields could be in jeopardy

As we revealed, over the past few months ExxonMobil has quietly been testing the waters with Nigerian firms to see if they could be interested in several Niger Delta assets it would like to sell. [...]

Spotlight

NIGERIA 20/09/2016

Baru and Kachikwu in power struggle at NNPC

Alongside President Muhammadu Buhari, who officially holds the post of oil minister, Nigeria's petroleum affairs are currently handled by two men, Maikanti Kacalla Baru, group managing director of NNPC, and Emmanuel Kachikwu, minister of state, petroleum resources (and also chairman [. [...]

Spotlight

NIGERIA 05/04/2016

Local oil firms declare war on NPDC

The forced sale of producing blocks to Nigerian juniors by former president Goodluck Jonathan’s government fell far short of pleasing those who benefited from it. No sooner had the government awarded the blocks than it said the national oil company [. [...]

NIGERIA 22/12/2015

Crestar carries the battle for OML 25 into the courtroom

The fact that Crestar and Shell are talking again about the acquisition of Shell’s stake on OML 25 doesn’t mean disputes stemming from the Alison-Madueke era are resolved. [...]

Spotlight

NIGERIA 14/04/2015

Some applaud and others lament Madueke’s departure

Muhammadu Buhari’s victory in Nigeria’s recent presidential election will result in the departure a strongest card in outgoing president Goodluck Jonathan’s hand: the controversial petroleum resources minister Diezani Alison-Madueke. While some traders who became oil explorers raked in riches during [. [...]

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