Remove 2014 Remove Barrel Remove Government
article thumbnail

Nigeria Oil Industry Overview

Drillers

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria.

Oil 52
article thumbnail

Petrel Resources Raises £250,000 for Iraq Oil Projects

Iraq Business News: Oil & Gas

The security situation in Iraq continues to improve, while an investment slow-down since 2014 has led to potential improvements on contract terms which should improve scope for development. The dramatic growth in North American fracked output between 2005 and 2014 is less of a concern for OPEC exporters.

Oil 45
article thumbnail

U.S. Fifth Circuit Greenlights Contribution Action for Purely Economic Damages Under Oil Pollution Act (OPA)

The Energy Law

Settoon arose out of a February 2014 collision on the Mississippi River near Convent, Louisiana. As a result of the collision, approximately 750 barrels of light crude oil discharged into the river.

Oil 40