Russian oil firms lock horns over lucrative OML29

OML 29, which holds the site of Nigeria’s first oil discovery, Oloibiri field in addition to Nembe Creek field, Santa Barbara and Odeama Creek fields, all producing is now at the center of a brawl between two Russian firms; Lukoil and L1 Energy.

Lukoil is Russia’s second largest oil company. The company was formed in 1991 when three state-run, western Siberian companies merged. That meant vertically integrating the three branches of the industry – exploration, refining, and distribution that were strictly

Nigerian crude values rise on higher refining margins

Nigerian crude values for April 2014 are beginning to rise steadily on higher refining margins and healthy demand from Europe.

Spot trade in Nigerian cargoes has increased with some high offers and deals done for cargoes in the April loading program.

Refining margins in Europe and Asia have both increased significantly compared with

NCC records 64.2m GSM subscribers as at last quarter of 2013

The Nigerian Communications Commission (NCC), on Friday said it had recorded 64, 229, 097 subscribers on its various Global System for Mobile Communications (GSM) networks.

This is contained in the Internet Subscriber Data released by the NCC on its Website, as at the last quarter of 2013.

The Data also indicated that an additional 8, 150, 259 subscribers have joined the existing 56, 078, 838 customers in the third quarter, to browse the Internet.

The data, however, showed that