Price Changed Business model in Oil exploration

Price Changed business model in oil exploration activities Kosmos Energy’s Oceanic Endeavour is in an increasingly rare exploration job working in about 30 miles from the tropical West African island nation of São Tomé and Príncipe, mapping the deep swath of the Atlantic Ocean floor on an increasingly rare mission: to make the next big …

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Oando Sells 60% of downstream business to Vitol for $276m

Report from reuters indicates that Nigeria’s Oando has agreed to sell a 60 percent stake in its downstream business to Vitol and Helios Investment Partners for $276 million, the energy company said on Tuesday. Oando, which is shifting away from being a marketer of refined petroleum products into an oil and gas explorer, completed the …

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Nigeria Oil and Gas professionals proffer Solution to Curb Oil theft

The Online news media Leadership news paper reports that Nigeria Oil and gas stakeholders proffer solution to curb oil theft, while Nigeria continue to look for solutions towards stemming the huge revenue loss due to pipeline vandalisation , experts spoke on the topic “Exploring Solutions to Asset Security Challenges Faced by the Nigerian Oil and …

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Oil and Gas Giant Shell Divest 30% Stake in Nigeria Asset

Oil and Gas giant Shell Nigeria Development Co Ltd.  a subsidiary of Royal Dutch Shell has divested a 30% stake in oil mining lease (OML) 18 and related facilities in the Eastern Niger Delta to Eroton Exploration and Production Company for $737m. Eroton was established by a consortium of companies, including Mart Resources, Midwestern Oil …

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