There is a recent judgment of a Nigerian Federal High Court (Judgement) which exploration and production companies, particularly, offshore/deep water oil drilling contractors/charterers (Upstream Actors) need to be mindful of and in respect of which Upstream Actors will be well-advised to obtain strategic legal and tax guidance with respect to how best to proceed. In…

Nigeria’s National Oil Company , (NNPC), has issued an Invitation to Tender to International Refining Companies and Global Petroleum Trading Companies (Suppliers) to bid for the 2019/2020 Crude-for-Product Swaps (Crude Oil Swap Arrangements) Crude Oil Swap Arrangements requires the NNPC to deliver Nigerian crude oil (Nigerian Crude) on a monthly /Free on Board (FOB) basis to Suppliers…

Nigeria’s Department of Petroleum Resources (DPR) have recently issued follow up guidelines to the  2018 Flare Gas (Prevention of Waste and Pollution Regulations) earlier issued by the Minister of Petroleum Resources The new guidelines make specific provisioning for measurement of gas flare data, gas flare payments and associated gas projects. The new guidelines are accessible…

Nigeria has finalised plans to commercialise all the associated gas flared by its exploration and production operators (Producers). The way it will do this is to first assert and then, exercise ownership rights over all associated gas flared by Producers in over 179 gas flare sites spread across on-shore, swamp, shallow offshore and deep offshore…