The Shell Petroleum Development Company of Nigeria Limited (SPDC) on Friday, agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies.
The prices of Crude Oil at NYMEX fell more than 2% on Wednesday, aided by the government data released which showed an increase in the gasoline stockpiles.
The EIA reported the reserves on crude, rose less than expected weighed on the prices, which had risen due to a forecasted drawdown stated by the American Petroleum Institute.
China National Offshore Oil Corp.. was in talks with oil companies Ghana, Ghana National Petroleum Corp., to bid for shares in Jubilee oil field. China National Offshore Oil Corp.. will compete with bids from the oil company Exxon Mobil Corp., a $ 4 billion. Wall Street Journal reported, China’s investment plans for mining infrastructure development, mineral exploration and oil exploration projects in Ghana.
