Tag: Nigeria oil production

Nigeria’s Top Indigenous Oil Producers Surge Output Despite Weaker Prices

Shell acquires TotalEnergies’ 12.5% stake in Nigeria’s Bonga oilfield for $510 million, increasing its share in OML 118 to 67.5%.

“The Federal Government has mandated the NNPCL to increase oil production beyond current levels by the end of the year.

The acquisition not only strengthens the company’s portfolio but also positions it to capture significant value from Nigeria’s oil industry