Nigeria's state oil company earned 8.1 trillion naira ($41 billion) from 2012 until the end of May, but only paid 4.3 trillion to the federal government, the country's National Economic Council (NEC) said on Monday.
Nigeria’s energy regulator said it’s prepared to approve higher prices for natural-gas supply to ensure increased deliveries to the nation’s ailing power plants.
Nigeria will probably be hit by fuel shortages in three weeks as the government doesn’t have enough money to pay for gasoline subsidies, according to the head of Seplat Petroleum Development Co Plc.
Nigeria's new President Muhammadu Buhari dissolved the board of the state-owned oil company on Friday as a first step in cleaning up the sector in Africa's biggest crude producer.
Nigeria's new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria's four refineries, senior sources in his party told Reuters on Sunday.
The Nigerian government should start selling off its stakes in oil joint ventures with foreign partners to ease the funding issues and leakage of cash due to corruption and waste which have impeded the country's bid ...
For Nigeria’s state-owned energy company, supplying gas to power plants around the country depends on fixing pipelines quicker than they get ruptured.
Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with energy companies, according to Seplat Petroleum Development Co.
President Muhammadu Buhari is likely to keep the oil portfolio for himself in the new Nigerian cabinet, rather than trust anyone else with the source of most of Nigeria's revenue and traditional fount of corruption, ...