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ExxonMobil to cut 2,000 jobs amid restructuring, oil market challenges
American multinational oil major, ExxonMobil, has announced plans to weed out significant 2000 workers mainly from its operations in Europe and Canada. It said in a statement that the purge planned to come into effect by 2027 would streamline its…
Divestments: UN body indicts IOCs on remediation breaches
Sopuruchi Onwuka The lingering concerns about who takes eventual responsibility for decommissioning of production facilities and remediation of oilfield environments have reached global arbitration despite earlier assurances that funding and roles have been resolved among deal parties. A panel of…
ExxonMobil earns NAPE Corporate Impact Award for Research & Development
ExxonMobil in Nigeria has been honored with the Corporate Impact Award for Research & Development at the Nigerian Association of Petroleum Explorationists (NAPE) 50 Golden Jubilee Awards, held at Eko Hotel & Suites, Lagos. The award was presented by Johnbosco…
How Oando shattered the barriers to divestment deals
Sopuruchi Onwuka The late entry of Oando Energy Resources (OER) in the prevailing divestment programme and its rapid progress to secure the first approval from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) now dominate hushed discussions in the industry. Before…
ExxonMobil deploys Helix in Erha, Usan well intervention
Sopuruchi Onwuka Helix Energy Solutions Group, Inc. has declared that it secured a deepwater well intervention contract from Esso Exploration and Production Nigeria (Deepwater) Limited. The Oracle Today reports that the continued reliance on foreign firms amplify the yawning local…
Investments by IOCs to drive Africa’s oilfiled activities in 2024
Sopuruchi Onwuka Investment pledges by the leading international oil companies (IOCs) are showing positive business propositions for service providers, drilling contractors that play in the African petroleum terrains. Some of the IOCs including TotalEnergies, Shell and Chevron have all confirmed…
NAOC Divestment: Time to dismantle transaction clogs
Sopuruchi Onwuka It has become necessary and even urgent for regulators in the industry to evolve a smooth process for implementation of the relevant sections of the Petroleum Industry Act relating to entry and exit of investors in the upstream…
America dethrones OPEC at oil export market
ExxonMobil finds substitute to Nigeria’s light sweet crude in Guyana Sopuruchi Onwuka The American continent is projecting strong outlook for oil output in the year, claiming the status of swing producer from non-American members in the multilateral Organization of Petroleum…
ExxonMobil divestment hits another snag
As Seplat hits Orjiako with N5 bn litigation Sopuruchi Onwuka Plans by Seplat Energy Plc and ExxonMobil to press on with closure of the stalled asset divestment before President Muhammadu Buhari’s administration leaves office may be difficult to deliver after…
ExxonMobil, Seplat working to unblock $1.2 bn divestment deal
Nigeria to compete for further deepwater investments Sopuruchi Onwuka American multinational oil company, ExxonMobil, is hopeful to progress with its plans to claw back princely $1.2 billion from its brownfield petroleum assets trapped in joint venture operations with the Nigeria…
