Nigeria

Nigeria has no plans to renew expired oil block licences

July 25, 2019 | Company Operations, Government & Regulations, Licensing & Concessions, Nigeria

NNPC withholds payments to Eni Abuja, Nigeria | – The Nigerian government  has no immediate plan to renew the expired oil block licences, particularly those belonging to international oil companies (IOCs)  operating in the country, the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari, has said. Nogtec Abuja bureau gathered that the IOCs operating some oil blocks with expired licences in various locations in the Niger Delta had been making enquiries on when the government would renew the licences. Commenting on …

Nigeria says ex-President and his Oil Minister took bribes: court filing

May 14, 2019 | Legal, Management, Nigeria

Abuja, Nigeria | – The Nigerian government has accused former President Goodluck Jonathan and his then oil minister of accepting bribes and breaking the country’s laws to broker a $1.3 billion oil deal eight years ago, a London court filing shows. The deal, in which Anglo-Dutch company Royal Dutch Shell and Italian peer Eni jointly acquired the rights to the OPL 245 offshore oilfield, has spawned legal cases spanning several countries. In papers advancing a London commercial court suit against Shell and Eni, lawyers for …

Shell targets 600 MMcf/day gas output from new Nigerian projects

May 14, 2019 | Company Operations, LNG & LPG, Nigeria

Lagos, Nigeria |  — The Shell Petroleum Development Company of Nigeria  (SPDC), a subsidiary of Royal Dutch Shell  aims to produce 600 MMcf/day of natural gas from fields in south eastern region of  to bolster energy supply in the oil-rich West African country, the company said late Monday. Development of the Assa North and Ohaji South gas projects in Imo state will generate energy equivalent of about 2,400 MW, enough to provide uninterrupted electricity to about 2.4 million homes, according to Shell. “The projects would be …

Nigerian court dismisses govt’s $55 million oil export claims against Eni, Petrobras

May 10, 2019 | Government & Regulations, Legal, Nigeria

Lagos, Nigeria | –  A Nigerian court on Wednesday dismissed government claims that subsidiaries of Eni and Petrobras illegally exported crude oil to the United States, but a lawyer representing authorities in the West African country said an appeal would be launched. Crude oil sales are the mainstay of Africa’s biggest economy, making up two-thirds of the country’s revenue and around 90 percent of foreign-exchange earnings. In a lawsuit filed in 2016, Nigeria alleged that a number of companies exported a total of 57 million …

Shell, Eni executives face corruption allegations over Nigerian oil deal

May 10, 2019 | Legal, Management, Nigeria

London, UK | –  Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the West African country’s government said in a London lawsuit that it believes a handful of executives, including CEOs, were tied to more than $1 billion in bribery payments. In court documents filed in early April, the Nigerian government said the oil companies’ senior managers agreed in 2011 to make a large payment for an offshore oil block, understanding the money would trickle down …

Nigeria’s oil-rich Bayelsa State opens inquiry on spills

March 27, 2019 | Government & Regulations, Health, Safety & Environment, Nigeria

Abuja, Nigeria | — Nigeria’s oil-rich Bayelsa state started an inquiry into the human and environmental impact of spills caused by multinational businesses operating in the region, opening a potential new conflict with companies that pump the bulk of the nation’s crude. The Bayelsa State Oil and Environmental Commission is in charge of the inquiry, which will be led by the British Archbishop of York, John Sentamu. It’s the first time such an investigation will be launched by a Nigerian oil-producing state, indicating concerns about …

Nigeria unveils $48 billion upcoming oil & gas projects at IP conference in London

March 27, 2019 | Africa, Nigeria

London, UK | — The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday said $48billion oil and gas investment opportunities have been identified in the Nigerian oil and gas industry. Speaking on ‘Insights on Future Exploration Hotspots: Opportunities for Africa’s Oil & Gas Industry, at the 2019 International Petroleum Week conference in London, Baru urged investors to invest in Nigeria through the identified investment opportunities. The projects are specifically in the areas of exploration and production, particularly the frontier oil basins, …

Nigeria assigning oil blocks to IOCs, Individuals unconstitutional – Falana

March 27, 2019 | Government & Regulations, Legal, Nigeria

Abuja, Nigeria |  — Nigerian lawyer, Mr. Femi Falana, a Senior Advocate of Nigeria (SAN), has said the practice of allocating crude oil blocks to individuals and International Oil Companies (IOCs) by the federal government is against the constitution of Nigeria, and should be stopped. Femi Falana, therefore asked President Muhammadu Buhari, to henceforth allocate oil blocks only to the federal and state governments, saying that those who got oil blocks often got more money from the blocks than Nigeria did. In a letter he …