Nigerian National Petroleum Corp (NNPC) is to be split into 30 independent companies within weeks, the group’s head said on Thursday, in a restructuring designed to help tackle corruption at the state oil company. Mismanagement and graft at NNPC has hampered an industry that provides around 70 percent of national income in Africa’s biggest crude
The ‘not so good’ awaiting Nigeria Oil industry amid the threat of falling prices in 2016
This coming year is shaping up to be a difficult one for economies that are disproportionately dependent on oil. This is especially true for Nigeria, where there’s a possibility of renewed conflict in the country’s oil-producing Niger Delta region, according to SBM Intelligence’s recently published “Nigeria in 2016” report. The global oil picture is stacked against countries like
Pipeline explosion kills 12 in Nigeria’s oil rich ‘Niger delta’
A crude oil pipeline belonging to Eni SPA, an Italian multinational Oil and gas company in the Nigerian oil rich Niger delta exploded, killing 12 workers on site. The men were part of a maintenance team, including security and environment officials, carrying out repairs on Thursday afternoon on the Tebidaba-Clough Creek line near the town of Azuzuama