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Market Report: Nigeria Provisionally Awards Tenders For 57 Marginal Fields

March 15, 2021
The weekly Market Report is provided by Gladius Commodities of Lagos, Nigeria. Download the full report here. Learn more about Gladius Commodities at www.gladiuscommodities.com.
NIGERIA
The Federal Government has provisionally awarded tenders to develop 57 of its marginal oilfields, which could net the government $500 million in signature bonuses. The Department of Petroleum Resources sent out provisional award letters requesting payment within 45 days to secure the awards, which companies can for the first time pay in either dollars or naira.
Marginal fields are smaller oil blocks typically developed by indigenous companies. Nigeria is looking to produce from the fields to bolster state finances and increase local participation in the oil sector, which provides the bulk of the nation’s foreign exchange. The 57 fields in the current auction were launched in June 2020 and are part of the first marginal field round in nearly 20 years. ....

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Tullow records $1.23bn loss in 2020 |Business Day Ghana

Oil giant, Tullow Oil, registered a loss of $1.23 billion last year, driven by non‐cash exploration write‐offs and impairments, according to its 2020 ....

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Investegate |Tullow Oil PLC Announcements | Tullow Oil PLC: 2020 Full year Results

Tullow oil PLC - 2020 FULL Year Results
10 March 2021 - Tullow Oil plc ( Tullow ), the independent oil and gas exploration and production group ( Group ), announces its Full Year Results for the year ended 31 December 2020. Details of a management presentation, webcast and conference call are available on the last page of this announcement or visit the Group s website www.tullowoil.com.
Rahul Dhir, Chief Executive Officer, Tullow Oil plc, commented today:

After a year of significant change for Tullow, we are now executing a robust, cash generative business plan which is focused on our most productive assets. We have transformed our cost base, implemented rigorous capital discipline and are well placed to benefit from higher oil prices. We will start a multi-year, multi-well drilling programme in Ghana ....

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Tullow Oil posts $1.22bn loss; forecast further drop in production | 10 March 2021

Tullow Oil posts $1.22bn loss; forecast further drop in production ....

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Investegate |Tullow Oil PLC Announcements | Tullow Oil PLC: Total Voting Rights

Investegate announcements from Tullow Oil PLC, Total Voting Rights ....

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