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<p>The Nigerian National Petroleum Corporation says it is engaging the Dangote Group for the possible acquisition of a 20 per cent minority equity stake in the Dangote Refinery. Meanwhile, the Nigerian government says it is expecting the first oil from the marginal fields by Januray 2022. Joining CNBC Africa for more is Oyeyemi Oke, an Oil and Gas Lawyer and a Partner at A02 Law.</p>


NNPC seeks to acquire 20% stake in Dangote Refinery

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<p>In recent weeks, the Nigerian National Petroleum Corporation announced the selection of various firms for two of its main contracts; the Direct sale, Direct Purchase contract and the Crude-for-Fuel Swap Contract. Oyeyemi Oke, Oil and Gas lawyer and a Partner at A02 Law joins CNBC Africa for more.</p>


Nigeria selects firms for key oil contracts

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<p>The International Energy Agency says Crude oil capacity in Nigeria will drop by two hundred thousand barrels to 1.6 million barrels per day by 2026 as a result of low investment. Meanwhile, the Nigerian government says it expects to generate $600 million from new marginal fields following the completion of licensing round and the notification of the 161 winners. Oyeyemi Oke, Oil and Gas Lawyer and a Partner at A02 Law joins CNBC Africa for more.</p>


IEA: Low investment will reduce Nigeria’s oil capacity

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<p>Data from the National Bureau of Statistics shows Nigeria’s oil sector recorded an average daily production of 1.56 million barrels of oil per day, leading to a contraction of 8.89 per cent in 2020 compared to a growth rate of 4.59 per cent in 2019. Meanwhile investment bank, Goldman Sachs says it expect Brent crude to reach $70 by the second quarter and $75 by the third quarter of the year. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa for an outlook on Nigeria’s oil sector.</p>


Oil industry watch: What is Nigeria’s game plan for 2021?

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<p>Oil host Communities in Nigeria are demanding for 10 per cent equity shareholding, as against the 2.5 per cent provision in the Petroluem Industry Bill as lawmakers target the second quarter for the passage of the overdue Petroleum Industry Bill.</p>


PIB Hearings: Host communities seek 10% equity shareholding

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<p>Nigeria’s much-awaited Petroleum Industry Bill has suffered yet another setback. The Minister of State for Petroleum Resources, Timipre Sylva says the National Assembly has moved deliberations on the bill to the first quarter of 2021. Joining CNBC Africa’s Kenneth Igbomor for this conversation are Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law and Dipo Ajayi, Head of Fixed Income and Forex at Chapel Hill.</p>


Nigerian lawmakers move Petroleum Industry Bill deliberations to Q1’21

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<p>The Nigerian National Petroleum Corporation has signed a $1.5 billion prepayment deal backed by Vitol Group, Matrix Energy, and the African Export-Import Bank. The deal is also by Standard Chartered. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 law joins CNBC Africa to discuss the significance of this deal.</p>


Nigeria enters $1.5bn oil prepay deal

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<p>Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, according to the Department of Petroleum Resources. The bid process from announcement to the execution of relevant agreements is expected to last about 6 months. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 law joins CNBC Africa for more.</p>


Breaking down Nigeria’s licensing round for marginal oilfields

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<p>Saudi Arabia&#8217;s ministry of energy says its crude output topped 12 million barrels for the first time in history on Wednesday, a day after the output cut agreement by OPEC and its allies elapsed. Oil prices shed nearly 70 per cent in the first quarter of the year and uncertainties around the coronavirus pandemic is still weighing on prices. Joining CNBC Africa to discuss how the global oil dynamics impacts Nigeria, Oyeyemi Oke, an Oil &#038; Gas Lawyer and a Partner at A02 Law.</p>


How COVID-19

How COVID-19, oil price war impacts Nigeria

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<p>A Federal High Court in Lagos has passed a ruling ordering the Nigerian Electricity Regulatory Commission to retain its status quo in regards to the planned electricity tariff hike by the regulator. Chinedu Anaje, Managing Partner at A02 Law joins CNBC Africa for more.</p>


How High Court ruling for NERC to regulate electricity tariffs is bound to affect Nigeria

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<p>Nigeria’s Monetary Policy Committee (MPC) has urged Federal Government to reconsider the $57 per barrel oil benchmark assumed in the 2020 budget. Meanwhile, Nigeria’s Senate has suspended the budget of the Niger Delta Development Commission and admonished President Muhammadu Buhari to inaugurate the board members of the commission. Oil and gas Lawyer and a Partner at A02 Law, Oyeyemi Oke joins CNBC Africa for more.</p>


MPC urges FG to reconsider $57 oil benchmark for 2020

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<p>Nigeria’s House of Representatives has agreed with the Senate and passed a bill amending the Offshore and Inland Basin Production Sharing Contract Act 2014. The amended PSC Act will among other things allow for royalty based on the changing prices, starting at 2.5 per cent when crude oil exceeds $20 to $60 per barrel and rising upwards to 8 per cent when the price exceeds $100 to $150 per barrel. The PSC Act provisions also cover natural gas and condensate.  Oil &#038; Gas Lawyer and Partner at A02 Law, Oyeyemi Oke joins CNBC Africa for more.</p>


Nigeria’s House of Representatives passes amended PSC Act: What the bill means for Nigeria’s oil & gas sector

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<p>At the General Debate of the on-going 74th Session of the United Nations General Assembly, Nigeria’s President Muhammadu Buhari described the controversial $9.6 billion failed gas project case between Nigerian and Process and Industrial Development as an example of a ‘scam’. To breakdown the legalities around the case, Chinedu Anaje, Managing Partner at A02 Law joins CNBC Africa for more.</p>


President Buhari: $9.6bn P&ID case, an example of a ‘scam’

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<p>The United States Department of Justice (USDJ) has accused 80 individuals, including 78 Nigerians, of involvement in a business email scam and money laundering scheme to the tune of 3 billion dollars since 2015. To discuss the growing concerns around cybercrime and the implication for Nigeria’s image on the global scene, Ifure Udofa, Associate Counsel of Corporate and Commercial Practice Group at A02 Law joins CNBC Africa for more.</p>


Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

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<p>OPEC agreed to extend production cuts by nine months after several members endorsed the move aimed at supporting oil prices amid a weakening global economy. The deal will take effect once non-OPEC allies give their approval at a meeting scheduled to hold today. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa to discuss this and other stories impacting the global oil market.</p>


OPEC agrees to extend production cuts by nine months

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<p>Oando Plc secured a court injunction restraining Nigeria&#8217;s Securities and Exchange Commission from executing sanctions against the company. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa for more.</p>


a02 law

NNPC seeks to acquire 20% stake in Dangote Refinery

Nigeria selects firms for key oil contracts

IEA: Low investment will reduce Nigeria’s oil capacity

Oil industry watch: What is Nigeria’s game plan for 2021?

PIB Hearings: Host communities seek 10% equity shareholding

Nigerian lawmakers move Petroleum Industry Bill deliberations to Q1’21

Nigeria enters $1.5bn oil prepay deal

Breaking down Nigeria’s licensing round for marginal oilfields

How COVID-19, oil price war impacts Nigeria

How High Court ruling for NERC to regulate electricity tariffs is bound to affect Nigeria

MPC urges FG to reconsider $57 oil benchmark for 2020

Nigeria’s House of Representatives passes amended PSC Act: What the bill means for Nigeria’s oil & gas sector

President Buhari: $9.6bn P&ID case, an example of a ‘scam’

Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

OPEC agrees to extend production cuts by nine months

Oando secures court injunction to restrain SEC

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a02 law

NNPC seeks to acquire 20% stake in Dangote Refinery

Nigeria selects firms for key oil contracts

IEA: Low investment will reduce Nigeria’s oil capacity

Oil industry watch: What is Nigeria’s game plan for 2021?

PIB Hearings: Host communities seek 10% equity shareholding

Nigerian lawmakers move Petroleum Industry Bill deliberations to Q1’21

Nigeria enters $1.5bn oil prepay deal

Breaking down Nigeria’s licensing round for marginal oilfields

How COVID-19, oil price war impacts Nigeria

How High Court ruling for NERC to regulate electricity tariffs is bound to affect Nigeria

MPC urges FG to reconsider $57 oil benchmark for 2020

Nigeria’s House of Representatives passes amended PSC Act: What the bill means for Nigeria’s oil & gas sector

President Buhari: $9.6bn P&ID case, an example of a ‘scam’

Cybercrime on the rise: 78 Nigerians implicated in business email scam and money laundering schemes

OPEC agrees to extend production cuts by nine months

Oando secures court injunction to restrain SEC

News Tips

Advertise With Us

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