Marginal fields contribute 2.41% to Nigeria’s crude production

The dwindling fortunes of marginal fields’ operators in the Nigeria’s oil and gas sector continued, as the subsector contributed 2.41 per cent to Nigeria’s total crude oil production in the month of March 2014.

According to data from the Nigerian National Petroleum Corporation, NNPC, on oil and gas activities for the month of March 2014, the marginal fields’ operators produced 1.645 million barrels of crude oil, representing a daily average of 53,086.26 barrels.

This is against a total of 68.367 million barrels produced by all the operations in the sector in the month under review. This translates to an average daily crude production of 2.205 million barrels, showing that the marginal fields’ operators are yet to make significant impact on Nigeria’s petroleum sector.

The Joint Venture, JV companies dominated crude production in the period under review, accounting for

Shell proceeds with global asset sales, sells some Nigeria oil fields

Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta.

Royal Dutch Shell has sold some of four oil fields up for grabs in Nigeria, it said on Wednesday, as the oil and gas company pushes ahead with global asset sales to cut costs.

Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta — Oil Mining Licence (OML) 18, 24, 25, 29 — as well as a key pipeline, the Nembe Creek Trunk Line.

“We have signed sales & purchase agreements for some of the Oil Mining Leases, but not all that we are seeking to divest,” a Shell spokesman said.

No details were available on the

Naira gains 0.19 percent on dollar sales by energy companies

The naira currency gained 0.19 percent on the interbank market on Wednesday, driven by dollar sales by major energy companies, Nigerian National Petroleum Corporation (NNPC).

The currency closed at 161.80 to the dollar, from 162.12 the previous day.

Chevron’s unit sold $60.7 million, Nigerian Liquefied Natural Gas (NLNG) sold an unspecified amount and NNPC asked lenders to bid for its usual dollar sale, prompting gains in