Indigenous oil and gas companies now account for more than 50 per cent of Nigeria’s crude oil production, the federal government has said, describing the development as a major shift in ownership and participation in the upstream sector. The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, disclosed this during the ...
Two indigenous firms based in Port Harcourt, ELC Oil and Gas Services and Chiefest Nigeria Limited, have threatened to stage a large-scale protest over the alleged nonpayment of more than ₦1 billion for contracts executed in 2024. The companies lamented that the prolonged delay in payment has taken a severe toll on their operations and [&helli...

