The Nigerian National Petroleum Corporation (NNPC) has signed a deal with some of the world’s biggest oil companies that could unlock over $10 billion investment in an offshore oilfield.
The corporation and its Production Sharing Contract (PSC) partners namely Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration. and Production Nigeria Limited (EEPNL), and Nigerian Agip Exploration (NAE) have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years.
This disclosure is contained in a statement that was issued by NNPC and signed by its Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, in Abuja on Tuesday.
Okechukwu Nnodim Published 26 May 2021The Nigerian National Petroleum Corporation and its Production Sharing Contract partners have executed five agreements to renew Oil Mining Lease 118 for another 20 years.NNPC outlined the partners as Shell Nigeria Exploration and Production Company, Total Exploration and Production Nigeria Limited, Esso Exploration and Production Nigeria Limited and Nigerian Agip Exploration.The five agreements signed were.
NNPC, Shell, Others Seal Deal to Unlock $10bn Investments thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
…Deal To Yield Over $780million In Immediate Revenues To Government (AFRICAN EXAMINER) – The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners – Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) – have […]
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Okechukwu Nnodim, Abuja
Published 25 May 2021
The Nigerian National Petroleum Corporation is not halting the subsidy on Premium Motor Spirit, popularly called petrol, despite the recent recommendation of the Nigeria Governors’ Forum that the subsidy regime by stopped immediately.
Rather, the oil firm is awaiting the outcome of today’s (Tuesday) meeting between the Federal Government and the organised labour as touching the cost of petrol and whether to discontinue subsidising the commodity.
NNPC is the sole importer of petrol into Nigeria and has maintained this position for more than three years, as it also subsidises the cost of the commodity despite being humongous.