Daniel Terungwa Nigeria has asked a Milan court to order Eni and Royal Dutch Shell to pay $1.092 billion as an immediate advance payment for damages in one of the oil industry’s biggest-ever corruption scandals. In a report by Reuters, lawyer for the Nigerian government, Lucio Lucia, at a hearing into alleged corruption linked to…
Nigeria can develop into the refining hub for West and Central Africa becoming a net exporter of refined products following federal government’s new policies on alternative energy ,total deregulation,liberalization of the petroleum downstream sector and the coming on stream of new modular refineries,the Major Oil Marketers Association of Nigeria(MOMAN),has said. The association in a statement…
French energy giant, Total, on Monday announced that it has notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore Brazil. These exploration blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127. In a release, the…
By Ikenna Omeje The Senior Special Assistant to the President, Garba Shehu on Sunday said that history will be kind to President Muhammadu Buhari as he will be remembered as the President who made real contributions to economic and overall national development by eliminating the corruption associated with fuel subsidies. The main opposition party, Peoples Democratic…
Daniel Terungwa The Department of Petroleum Resources, DPR, has commenced the audit of petrol retail outlets across the country, and has ordered 9,000 petrol stations across the country to immediately initiate the upgrade of their facilities to allow them dispense gas to vehicles for transportation. This is in furtherance of the Federal Government’s National Gas…
Daniel Terungwa The Nigerian Maritime Administration and Safety Agency (NIMASA) has reinforced efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF). This was made known by the Director-General of NIMASA, Dr Bashir Jamoh when he received a delegation from…
Daniel Terungwa The Government of Bayelsa State has solicited the partnership of the Nigeria Maritime Administration and Safety Agency towards establishing a maritime academy and developing its deep seaport. Governor Douye Diri who paid a courtesy visit to the NIMASA Director-General, Dr Bashir Jamoh, on Monday in Lagos, said the state had re-opened the process…
By Ikenna Omeje An energy firm, Kariya Energy, has announced its plans to enter into various definitive agreement to acquire upstream and midstream oil and gas assets in Nigeria and five other African countries. In a release on Monday, the company said that its technical and financial strength puts it in a position to bring…
By Ikenna Omeje The Shell Petroleum Development Company of Nigeria Limited (SPDC) has dismissed the National Oil Spill Detection and Response Agency (NOSDRA) report that it spilled 45,000 barrels of oil from an incident at its facility in Nun River in Angiama area of Bayelsa State in March 2020, a release by the company said…
By Ikenna Omeje The Nigerian National Petroleum Corporation (NNPC) on Tuesday dismissed the allegation that the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project was inflated to the tune of $1.5 billion, describing the accusation by an unnamed online medium against it as false, baseless and unfounded. The national oil company noted that the award of the gas…