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Nigeria loses $750m to oil theft in 2019 — NNPC

February 19, 2020 | Company Operations, Government & Regulations, Nigeria

Abuja, Nigeria | – The Nigerian National Petroleum Corporation (NNPC) says the nation lost about 750 million dollars to oil theft in 2019. The NNPC Group Managing Director, Malam Mele Kyari, disclosed this in Abuja on Tuesday according to Nigerian local newspaper, The Vanguard. Kyari said this when members of the Executive Intelligence Management Course 13 of the National Institute for Security Studies (NISS) visited the NNPC Towers. He decried the growing activities of oil thieves and pirates which he described as a threat to …

Nigeria’s state oil company and partners spent $360 million on Delta cleanup: NNPC

February 19, 2020 | Health, Safety & Environment, Nigeria, Politics & Social Unrest

Yenagoa, Nigeria | –  Nigeria’s state oil company and its joint venture partners have spent $360 million on cleaning up the Niger Delta oil heartland in the past two years, the Nigerian National Petroleum Corporation (NNPC) said on Monday, but locals said little work had been done. Nigeria is Africa’s biggest crude oil exporter. Oil sales account for around 90% of its foreign currency earnings but oil spills in the southern Niger Delta region have caused pollution and angered locals. Royal Dutch Shell Plc was …

Nigeria’s NNPC hires 1,050 graduates out of 60,000 candidates

February 19, 2020 | Employment, Nigeria

Abuja, Nigeria | – The Nigerian National Petroleum Corporation (NNPC) has announced the recruitment of 1,050 Graduate Trainees, signalling the successful completion of its 2019/2020 employment exercise. A statement from the corporation’s Acting Group General Manager, Group Public Affairs, Mr. Samson Makoji, quoted the Group Managing Director, Malam Mele Kyari, as saying that the Human Resources Division of the NNPC has since commenced the issuance of provisional offers of employment to the 1,050 fresh employees. While describing the recruitment as a very important assignment for …

Italian judge puts Nigerian businessman on trial in oil graft case

February 19, 2020 | Current Affairs, Legal, Management, Nigeria

Milan, Italy | –  An Italian judge has ordered a Nigerian businessman to stand trial for alleged international corruption relating to a Nigeria oil graft case involving Eni and Shell, a judicial source and his lawyer said on Wednesday. Milan prosecutors allege that Alhai Aliyu Abubakar played a central role in one of the oil industry’s biggest scandals in years, handing out more than $500 million in cash to powerful Nigerian government officials. The money is alleged to come out of the $1.3 billion licence …

TGS partnership acquiring more seismic offshore Senegal

February 19, 2020 | Offshore, Rigs & Vessels, Seismic, Senegal

TGS has completed its latest 3D survey offshore Senegal Asker, Norway | – TGS-NOPEC Geophysical Company ASA, referred to as TGS and listed on the Oslo Stock Exchange, has completed its latest 3D survey offshore Senegal. SN-UDO-19, off the country’s northern shore, follows the earlier SS-UDO-19 in the southern offshore. TGS will make available fasttrack data this spring with the full data-set released later in the year. The acquisition vessel BGP Prospector has sailed 200 km (124 mi) north to acquire a further 2,024 sq km (781 sq …

Algeria’s Sonatrach eyes partnerships with Exxon Mobil

October 01, 2019 | Algeria, Contracts, Mergers, Acquisitions & JVs

Algiers, Algeria |   –  Algeria’s state-owned Sonatrach held meetings with Exxon Mobil last week to discuss possible partnerships, a Sonatrach statement said on Monday, a week after it said it had talked with America’s Chevron Corporation. Sonatrach gave no further details of the September 25 and 26 meetings but the energy producer has said it wants to boost output to increase revenues after a decline in prices hit its budget. Some 95% of Algeria’s foreign revenue comes from oil and gas sales. Since energy prices …

Nigeria’s Rivers state buys Shell’s stake in Ogoniland oilfield

October 01, 2019 | Asset Acquisitions & Divestitures, Nigeria

Port Harcourt, Nigeria | –  Nigeria’s Rivers state in the Niger Delta region has purchased Royal Dutch Shell’s stake in an oil mining licence in the restive Ogoniland,  the state’s governor said on Monday. The block under licence, OML 11, has been undeveloped for nearly 25 years, since the execution of regional activist Ken Saro-Wiwa under the Nigerian  military government of Sani Abacha. The field is among several onshore assets that Shell had been trying to sell in Nigeria. Talks with at least one potential …

Uganda set to miss 2022 oil production deadline

October 01, 2019 | Company Operations, Development / Production, Uganda

London, UK | – French multinational oil giant Total E&P’s decision to suspend all oil activities in Uganda after Tullow Oil’s failure to sell a stake of its interests will delay Uganda’s plans of producing first oil, hurting the country’s position of meeting some of its debt obligations, reports the Observer. Uganda has racked up a pile of debts – such as the construction of roads and power plants – in the hope that oil money would flow quickly so that the country can service …