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Tag Archives: International Oil Companies

ExxonMobil prefers investments in power, gas commercialization than refinery in Nigeria

ExxonMobil logo

Vice President of ExxonMobil America, Asia Pacific & Africa New Market, Paul Greenwood has revealed that rather than fresh investments in refinery as requested by the visiting Minister of State for Petroleum, Dr. Ibe Kachukwu, the oil conglomerate prefers to deepen commitment to help deliver power to Nigeria and support the Gas commercialization program of the Ministry of Petroleum Resources.. ...

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Presence of 1967 Petroleum Act, non-passage of PIB frustrating investment drive of IOCs

Saraki Buhari

More experts have given reasons for the observed drop in strategic investment by International Oil Companies (IOCs) in the last five years. The Chairman and Chief Executive Officer of International Energy Services Limited, Dr. Diran Fawibe, in an interview said “A serious-minded country should not spend upwards of eight years to 10 years to enact a law that will govern ...

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FG begins payment of $5.1b cash calls to IoCs this month to grow activities

Ibe Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu has weekend gave an indication that Federal Government will begin payment of $5.1 billion joint venture cash calls to International Oil Companies (IoCs) from this month, April 2017. Explaining more in his keynote address at the first Nigerian Oil and Gas Opportunity Fair organised by the Nigerian Content Development Monitoring Board ...

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Why oil majors keep mum on presidential relocation order, 2 weeks after

Oil firms

Energy lawyer and Lagos human rights advocate, Barrister Chidi Ugoma has given reason why mere presidential directive may not compel the oil majors to relocate their operational head offices from wherever they are now to any of the Niger Delta States. Findings by Business Hilights two weeks after the then Acting president, and now Vice president, professor of Constitutional Law, ...

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2 weeks after presidential directive, IOCs adamant to relocate headquarters to Niger Delta

Oil firms

Barely two week after Acting President, Prof Yemi Osinbajo handed down a presidential directive mandating all International Oil Companies (IOCs) to relocate to their host communities in Niger Delta, undercover investigations in four leading IOCs, (names with held) has not even raised a any internal memo to review the order not to talk of discussing the matter. In a discussion ...

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