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Translate OML 118: NNPC, SNEPCo, others sign 20 years deep water agreement On Kindly Share This Story: The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. The partners are 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) The Corporation disclosed this in a statement signed by its s...

Punch Newspapers Sections Pat Utomi Published 12:31 am Ironies litter the landscape.  Newspapers chose to emphasise the back of the President, Major General Muhammadu Bujari (retd.), as he climbed aboard the presidential jet to go for another medical checkup abroad. Many are still pondering if meaning was desired in the symbolism of turning the back at a distraught people battling an inchoate economy and ever present threat to life and property. At about the same time of the President’s medical travel, the US National Consumer Advisory Board was naming a Nigerian, Prof. Iyalla Elvis Peter...

By Deji Elumoye The federal government is to spend $1.5 billion on the rehabilitation of the Port Harcourt refinery, one of the four refineries in the country. The Minister of State for Petroleum Resources, Timpre Sylva, who disclosed this to newsmen on Wednesday at the end of the weekly meeting of the Federal Executive Council (FEC) at the State House, Abuja, said the memo for the rehabilitation of the refinery was approved at Tuesday’s FEC meeting presided over by President Muhammadu Buhari. According to him, the rehabilitation of the refinery will be carried out in three phases over a co...