Dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria and a subsidiary of United States’ ExxonMobil Corporation has taken a turn for the worse on Monday as the union extended its industrial action to other international oil companies operating in the country. This followed the rejection of the directive by the Minister […]
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ExxonMobil, an international oil company operating in Nigeria, has indicated interest to make fresh investment in the country’s power sector, making it the second IOC to declare such intention this year. ExxonMobil is currently building a power plant in Qua Iboe in Akwa State. In January, Eni signed a Memorandum of Understanding with the Nigerian […]
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Following the complete acquisition of ExxonMobil’s 60 per cent equity stake in Mobil Oil Nigeria (MON) Plc operations by NIPCo Plc in a N90 billion deal, the new owners have announced a new name for MON. Group Managing Director of NIPCo Plc, Mr. Venkataraman Venkatapathy, at a media briefing to announce the complete acquisition of […]
Read More American oil giant, ExxonMobil, has made investments worth over $100 million in initiatives and projects, aimed at empowering women, it was learnt. This emerged during an event to mark this year’s Women’s Day in Lagos titled: “Women in Nigeria (WIN) exhibition & conference.” It was rganised by WEConnect International, a non-governmental organisation focused on women […]
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ExxonMobil says it has discovered up to 1 billion barrels of oil off Nigeria’s shores. A statement Thursday says the “significant discovery” at Owowo-3 well extends an existing field worked by the U.S. multinational. ExxonMobil is the operator and owns 27 percent of Owowo. Nigeria’s state oil company holds majority shares. Other partners include Chevron, […]
Read More United States-based ExxonMobil has divested its 60 per cent stake in Mobil Oil Nigeria Plc to Nipco Plc, an indigenous Nigerian downstream oil and gas company. Given the latest divestment, French energy major, Total, is the only international oil company operating in the downstream sector of the Nigerian oil and gas industry. Nipco, in a […]
Read More Exxon Mobil Corp. was ordered to pay a record $74 billion fine in Chad for underpaying royalties in the central African nation where the company has been drilling for 15 years, according to a court document. The fine is about five times more than Chad’s gross domestic product, which the World Bank estimates at $13 […]
Read More New York Attorney General Eric Schneiderman is investigating Exxon Mobil Corp’s accounting practices and why the company hasn’t written down the value of its assets despite a steep drop in oil prices, WSJ reported, citing people familiar with the matter. (on.wsj.com/2cKDtWe) A more than 60 percent plunge in oil prices since mid-2014 has forced oil […]
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The low or weak demand for Nigerian crude has caused the number of ships without cargoes to increase immensely to levels not seen for a while. As a result, the cost of sending crude oil cargoes from West Africa to Northwest Europe on Suezmaxes has dropped to the lowest level in over 14 years, according to Platts […]
Read More Akwa Ibom State Governor, Udom Emmanuel, has ordered ExxonMobil to clean up the oil spill that occurred at Ndito Eka-Iba in Ibeno, Akwa Ibom on May 8. Ibeno Communities’s youth president, Mr Godwin Ikot, said this in an interview with the News Agency of Nigeria, in Ibeno Local Government Area of the state on Thursday. […]
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