NewStats: 3,263,601 , 8,180,710 topics. Date: Friday, 06 June 2025 at 06:32 PM 5h6f72

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Exactly six years after the operating licence for Chevron’s Oil Mining Leases (OMLs) 83, 85, 88, 89, 90, 91 and 95 expired in December 2008, after 40 years of issuance, the federal government has renewed the licence for these seven leases for another 20 years, THISDAY has learnt.

Chevron Nigeria Limited operates these seven acreages and five others – OMLs 49, 51, 52, 53 and 55, under a t venture with the Nigerian National Petroleum Corporation (NNPC), with Chevron having 40 per cent interest, while the national oil company holds 60 per cent.

Before the renewal, Chevron had commenced the divestment of its 40 per cent stake in five of these 12 acreages.

THISDAY gathered that Chevron applied for the renewal of the license since 2006, two years before the expiration.

It was however, not clear why the federal government delayed the approval for six years after the expiration; neither was it clear why the recent approval by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, was kept out of the public glare, unlike the renewal of the Mobil license for 20 years, which was signed in full public glare in February 2012.

Chevron’s General Manager in charge of Policy, Government and Public Affairs (PGPA), Mr. Deji Haastrup, declined to comment on the matter, despite several e-mails and text messages.

But a top official of the company, who did not want to be quoted, confirmed the renewal to THISDAY but declined to give details on the reserves capacity of the seven acreages, as well as the financial commitment of Chevron to the federal government, with regards to the renewal, citing “charged political atmosphere.”

He stated that the renewal would inspire the confidence of Chevron and other International Oil Companies (IOCs) in Nigeria’s operating environment, which has been characterised by uncertainty due to the non-age of the Petroleum Industry Bill (PIB).

http://www.thisdaylive.com/articles/six-years-after-fg-renews-chevron-s-licence-for-20-years/200500/

Thieves.

Kk
How much does it cost to get/ renew a license?
Acquiring oil bloc on my mind

It's their time.

Shi el knew dier future prospect is blink in 9ja so dey either sold their facilities or form jv. After neglecting csr, Now they do adverts even on radio for d minute projects they are tly involved. Karma...
Well I wish them well.


Good for Chevron!
Lokaci yayi!!

I pray I also get a licence to an oil well (wells) someday. I know with God's help, I will. God bless Nigeria!

#Following

OK.

Ok.

What happens to process? Was this renewal d to solicit the approval of Nigerians? How much money was paid as black money to obtain this approval? How much has NNPC earned so far in this so called JV? Chevron should do well by updating us about this transaction.

NNPC I hail ohhh

I'm waiting for Mr Buhari to say Chevron is corrupt and he'll lock em up if he wins, they say GEJ is clueless but think buhari is a savior, saying he'll lock every corrupt being, I laugh him think say na military regime where you can do any you want..

More Grease to your elbow FG..




----------- Valar Moghulis

welcum to feBUHARI

sai buhari

good 1

Btw

Buhari is a wolf in sheep's clothing! Nothing for him!

Check out:
https://nairaland.isosite.org/2123778/ban-press-embarrass-public-officer

Chevron one of the money makers of the country..

This goes to show the weakness and inefficiency in Nigerian government systems. So did the government not receive royalties for the 6 six years or is the licence renewal retroactive?

good development

It's because of this renewal of licenses that some people want to take control of Aso Rock.
It's Well.

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good for them

Our oil money

Ik

Hm

They've kept milking NG since 1960.

I don't know why anything that concern Nigeria is always subject to politics. Chevron has been one of the most effective international company operating in Nigeria. They deserve renewal of their licence, but Nigeria system is always faulty cos we re deepnecked in corruption. That is why we need efficient government to see to fair hearing in every dealing we may involved in.

j4sure:
Ik

Well its a good development cos they av employ many nigerian.but Nigerians need to shift attention from oil sha to other profitable ventures

milking continues, good thing is they pay well compared to stingy companies like shell and addax

before nko

nke001:
Shi el knew dier future prospect is blink in 9ja so dey either sold their facilities or form jv. After neglecting csr, Now they do adverts even on radio for d minute projects they are tly involved. Karma...
Well I wish them well.


Good for Chevron!
Lokaci yayi!!

Ehn

Chevron and other multinationals have been reaping nigeria for donkey years. We have one of the most unfair deals with the multinationals on earth.
Seun posted a link to an article about norway's oil industry on financial times a few days ago. I think every nairalander should read it.


The PIB as composed by the late Rilwanu lukman was meant to correct the bad deal and also partially privatize nnpc but unfortunately yaradua died, mr. Lukman resigned, and diezani came in and added issues such as host community fund, which she knew would lead to a deadlock and stall the age of the bill.

We were informed by wikileaks that top of our oil industry are spies for the multinationals. I think this move should make it clear to "wise" nigeria's who really has their interest at heart.

eagleeye2:
It's because of this renewal of licenses that some people want to take control of Aso Rock.
It's Well.

you sabi.

Most oil well licence expired or expiring and 80% of the wells owned by the born - to - rule empire.


Jonathan shall return and justice must be serve...


Enough is enough.

Shalom!

rozayx5:
milking continues, good thing is they pay well compared to stingy companies like shell and addax

When I read comments like this, I feel such pity for the future of my country. You are wise enough to know you are being milked, yet you are happy about the fact that chevron pays ur country men with your own country's money a higher salary than other companies are paying.

It is like a girl molested by two guys, being happy that at least the second guy kept telling her she was beautiful as he was molesting her.