Terminals & Storage

Iran building $1.8 bln oil pipeline to terminal outside Gulf

October 01, 2019 | Middle East, Terminals & Storage

Dubai, United Arab Emirates | – Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country’s oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil. Iran has been planning since at least 2012 to set up the terminal on the Gulf of Oman, just outside the Strait of Hormuz. Tehran has threatened to block the vital Gulf oil shipping route …

Kenya plans to ship its first crude oil in June

May 10, 2019 | Kenya, Pipelines, Terminals & Storage

Kenya plans to ship its first crude oil in June Tullow Oil has so far transported 87,000 barrels from Turkana Only 600 barrels can be transported per day; new licenses given to allow up to 2,000. London, UK | – Kenya plans to ship its first 200,000 barrels of crude oil in June, one year since President Uhuru Kenyatta flagged off the first trucks. On June 3 last year, President Kenyatta flagged off four trucks with 156 barrels of Crude Oil from Lokichar in Turkana …

Chinese firms skip Iran oil purchases for May to avoid U.S. sanctions

May 10, 2019 | Company Operations, Energy Trading & Markets, Terminals & Storage

London, UK | – China Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC), the country’s top state-owned refiners, are skipping Iranian oil purchases for loading in May after Washington ended sanction waivers to turn up pressure on Tehran, three people with knowledge of the matter said. The United States has not renewed any exemptions from sanctions on Iran, taking a tougher line than expected on the expiry of the waivers. The waivers were granted last November to buyers of Iranian oil. China is …

Shell Nigeria rules out force majeure on oil export after Nembe fire

March 05, 2019 | Company Operations, Nigeria, Terminals & Storage

Lagos, Nigeria | – Shell Petroleum Development Company (SPDC) , a subsidiary of Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. A force majeure is usually declared to protect an oil exporter against any liability with buyers because of its inability to meet obligation. Shell stated that the Nember Creek Trunk Line (NCTL) had not been impacted by a fire, having been shut since …

NNPC, Capital Oil at odds over N11billion petrol theft

May 11, 2017 | Legal, Nigeria, Terminals & Storage

Lagos, Nigeria | – The Nigerian National Petroleum Corporation (NNPC), and Capital Oil and Gas Industries Limited have disagreed over the alleged N11 billion petroleum products theft, local newspaper Vanguard reports. Capital Oil launched an accusation against the NNPC, when it alleged that the corporation had over N16 billion outstanding debts to settle. But the Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, disclosed in a telephone interview that Capital Oil’s narrative was a distraction from the main issue. He stated …

Aiteo Group pays $202 million to NNPC for under-delivered crude oil

March 28, 2017 | Expenditures & Funding, Nigeria, Terminals & Storage

Lagos, Nigeria | – The Nigerian National Petroleum Corporation (NNPC), Monday, disclosed that it had reached a final settlement with Aiteo Group, stating that the company had paid all its outstanding indebtedness amounting to $202.345 million for crude oil swap under-deliveries and other downstream liabilities. In a statement by its Group General Manger, Group Public Affairs Division, Mr. Ndu Ughamadu, the NNPC stated that the amount includes Aiteo’s share of the $184 million total indebtedness by three companies on crude swap obligations plus Aiteo’s other …

Shell Nigeria declares force majeure, shuts 600,000bpd export pipeline

August 15, 2016 | Nigeria, Terminals & Storage

Lagos, Nigeria | – Nigeria’s crude oil exports is again facing a fresh threat as Shell Petroleum Development Company of Nigeria, a subsidiary of Royal Dutch Shell plc on Friday declared force majeure on export of Bonny Light, Nigeria’s crude oil grade, the second time in three months. This is coming four days after the oil supermajor declared force majeure on gas supply to the Nigeria LNG’s export facility on Bonny Island following a leak on the Eastern Gas Gathering System pipeline through which Shell …

Shell asks ship owners exporting Nigerian oil to sign NNPC guarantee

October 09, 2015 | Company Operations, Nigeria, Terminals & Storage

London, UK | – Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a “letter of comfort” (LoC) to guarantee that its oil is not stolen, an email from the company seen by Reuters showed. “Please be informed we expect LPG & Products ship owners to sign the NNPC LoC for any future Shell loading voyages,” the email stated. NNPC, Nigeria’s state oil company, has lifted a ban on over 100 vessels due to suspected oil theft, but asked ship owners …