Baru makes case for more alternative financing of JV obligations

The decision by the Nigerian National Petroleum Corporation (NNPC) to seek alternative financing models for funding its Joint Venture (JV) obligations has continued to restore confidence among investors and stimulate further Foreign Direct Investments (FDI) in the nation’s oil and gas industry. Group Managing Director of the Corporation, Dr. Maikanti Baru, disclosed this while speaking […]

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The logo of Oando oil company is pictured in Abuja, Nigeria October 18, 2017. REUTERS/Afolabi Sotunde

Oando, JV partner to reconstruct roads in host communities

Oando Plc, in conjunction with the Nigerian National Petroleum Corporation and the Nigeria Agip Oil Company, has announced the inauguration of road projects with drainage system in its host communities in Imo, Rivers and Bayelsa states. The company said in a statement that three road projects were completed in Imo, namely Flora Nwakuche Road, Echina […]

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$5.1bn JV cash call strife between FG and oil companies over – IOCs

The $5.1 billion joint venture cash call argument between the Federal Government and international oil companies operating in Nigeria is over, the IOCs have said. In 2016, the IOCs gave the Nigerian National Petroleum Corporation, which represents the Federal Government in different JV partnerships, a discount of $1.7 billion from the $6.8 billion cash call […]

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Nigeria signs agreement on JV projects with Shell, Chevron

Nigeria has signed financing deals with oil majors Shell and Chevron to develop projects that would boost reserves and revenue, the state-run oil firm said on Thursday. “Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday,” said […]

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