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French oil explorer Maurel & Prom has spun off its Nigerian operations into a new company, Maurel & Prom Nigeria. Shares in M&P Nigeria were due to

Will 2012 be the year when malfunctioning giant Nigerian National Petroleum Corporation (NNPC) is restructured as the cornerstone of an all-embracing overhaul of financing, licensing, regulation and operations in the Nigerian hydrocarbons industry? Co-ordinating minister of the economy and finance minister Ngozi Okonjo-Iweala believes a workable Petroleum Industry

The Nigerian Electricity Regulatory Commission (Nerc) has issued 20 operational licences to local independent power producers for both on and off-grid generation, as well as one distribution licence and a licence for the newly created

President Goodluck Jonathan’s 13 December budget speech included incentives for developers, with the federal government proposing that power equipment and machinery should attract zero duty

Analyst sentiment towards London Stock Exchange-listed Afren was given a fillip with positive newsflow from its behind-schedule Ebok development. In a research note following a field trip, Jefferies International reported “increased confidence that the delay issues are behind” the Ebok project

Analyst sentiment towards London Stock Exchange-listed Afren was given a fillip with positive newsflow from its behind-schedule Ebok development. In a research note following a field trip, Jefferies International reported “increased confidence that the delay issues are behind” the Ebok project

Royal Dutch Shell is facing two lawsuits over its operations in the Niger Delta, three months after a United Nations Environment Programme (Unep) report condemned the oil major for environmental damage and recommended it foots the $1bn clean-up bill (AE 215/20). Residents of Ogoniland have filed a lawsuit in US courts accusing Shell of being complicit in human rights abuses by government forces against anti-oil industry protesters between 1992 and

Central Bank of Nigeria (CBN) governor Sanusi Lamido Sanusi used The Economist’s 20 October Nigeria Summit in Abuja to stress that the naira would not be devalued – in a move to reassure investors worried about continued instability. Sanusi argued that to devalue the currency, which is pegged to the dollar,

Nigeria's South Atlantic Petroleum (Sapetro) has agreed a farm-in deal for Madagascar's Belo Profond Block, and is predicting "megastructures" in this deep-water acreage. Sapetro will purchase a 90% interest and operatorship from

With generation capacity finally creeping upwards, the federal government is turning to foreign investors to provide the huge sums needed to overcome crippling power shortages. But targets still remain both ambitious and insufficient, writes David Slater in Abuja

AIM-listed Sirius Petroleum has announced a financial and technical services agreement with Owena Oil and Gas and Guarantee Petroleum Company for a proposed investment in the Ororo marginal oil field in OML 95.

The Rivers State government has given Alstom a €40m ($55m) contract to supply a 160MW GT13E2 gas turbine for the second phase of the Afam independent power plant to be built in Port Harcourt.

The unions don’t like it and neither do many northern politicians. But publicly, at least, a majority in government and business are behind the president’s efforts to remove subsidies on petrol, writes Leonard Lawal in Lagos

There will be opposition from across Nigerian society, but key measures to restructure the hydrocarbons industry and channel windfall oil earnings are among a raft of measures the Jonathan government expects to push through in the coming months, the country’s senior economic minister told Jon Marks in Washington.

Australia’s Jacka Resources, which was formed by former Hardman Resources staff, has agreed with Providence Resources to take a stake in the Aje oil and gas field in OML 113. Jacka said it had entered into a heads of agreement for a net 5% revenue-earning interest in the Aje field, paying 6.675% of the costs relating to the Aje development.