Divestment
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Commission says approval for divestment of oil coy legal
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says approvals given for the divestment deal of two oil companies were in line with Petroleum Industry Act (2021). The companies are Nigerian Agip Oil Company Limited (NAOC Ltd.) by Oando Plc. and Equinor Nigeria Energy Company (ENEC), by Chappal Energies. Mrs Olaide Shonola, NUPRC’s Head of Public Affairs, made this known…
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Petroleum producers demand quick conclusion of pending IOCs divestment transactions
The Independent Petroleum Producers Group (IPPG) has called for a quick conclusion of all the pending International Oil Companies (IOCs) divestment transactions in the country. Mr Abdulrazaq Isa, IPPG Chairman, made the call at the ongoing 2024 Nigerian Oil and Gas (NOG) Energy Week on Tuesday in Abuja The 2024 NOG conference, scheduled to hold from June 30 to July 4, has the theme:…
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FG to divest 26 oil blocks of 8.211m barrels reserves
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) the International Oil Companies (IOCs) have proposed 26 oil blocks to be divested to indigenous companies with 8.211 million barrels of oil reserves.. The NUPRC said it had also engaged two leading global oil and gas decommissioning consultants to carry out due diligence on the proposed 26 oil blocks to be divested. The…
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