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 Nigerian oil

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updated Wed. February 6, 2019

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It's titled “The Battle Raging in Nigeria over Control of Oil”. See https://www.youtube.com/watch?v=vAgw_Zyznx0&feature=youtu.be. It is a very depressing watch. An American lady - one of those daring activists - came on a trip to Nigeria's oil zone to show us what we never show ourselves. If there is ...
An improvement in Nigeria's oil earnings is on course as prices held firm on Friday near three-year highs reached earlier this week as ongoing ... Led by top exporter Saudi Arabia, the Organization of Petroleum Exporting Countries (OPEC), has been withholding production since 2017 to draw down a ...

Nigerian President Muhammadu Buhari met with Shell on Wednesday as part of talks he said were to secure $15 billion of investment in his country. ... Oil accounts for approximately 35 percent of Nigeria's gross domestic product, according to the Organization of the Petroleum Exporting Countries (OPEC), ...
Despite the fact that Nigeria as a whole managed to increase and stabilize its crude oil production last year, crude oil theft on Shell's pipeline network ... to the Nigerian National Petroleum Corporation (NNPC), followed by taxes to the federal inland revenue service, royalties to the Department of Petroleum ...
Shell Nigeria's oil production averaged 631,000 b/d of oil equivalent in 2017, bolstered by output from onshore and shallow water assets, according to data ... November 2016, the security situation remains volatile in this region of the country," Shell said in briefing notes on its Nigerian operations in 2017.
Over the past 40 years, Nigeria has emerged as an oil powerhouse — the biggest in Africa. But as the Nigerian government struggles to emerge from petroleum dependency, opportunities for growth have emerged in other sectors. From Kano's rice plantations to a fledging gas economy in Bayelsa, Nigeria ...

Nigerian President Muhammadu Buhari initially presented the 2018 budget of 8.6 trillion naira to lawmakers in November but still needs approval. The sum is the country's biggest ever. This comes as Nigeria moves past its recession of 2016, in which the country's economy shrank by 1.58 percent ...
Thousands of oil workers in Nigeria may lose their jobs after a wave of picketing against several service companies from the industry from members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). The protests follow allegations that the service companies are refusing to ...
More than half of those involved in its construction were Nigerian and more than 75 percent of the work was done in Port Harcourt or Lagos. The remainder was done at the Samsung shipyard in South Korea. "We would have never thought that these things could be done locally," said Dolapo Oni, an oil ...
The maiden edition of the Nigeria International Petroleum Summit ended on a positive note after the deliberation with critical stakeholders. ... At the end, there was optimism regarding the federal government's promise to start a Nigerian-inspired oil and gas summit to revive the hydrocarbon industry of ...
Ladol, which provides support services to the oil and gas sector and where Egina has been moored, is 100 percent Nigerian. Its chief executive, Amy Jadesimi, said the vessel's arrival radically changed the landscape of the industry. “We now have the biggest crane capacity in the whole of Africa, we have a ...
The Nigerian government has commenced legal proceedings against the Chinese-owned oil firm, Addax Petroleum Development Nigeria Ltd, over the company's alleged under-remittance of $3 billion in taxes and royalties. Court documents seen by PREMIUM TIMES show that the funds, according to the ...
Nigeria's inefficient refineries are unable to meet domestic fuel demand and have made Nigeria the only OPEC member to import gasoline, according to the managing director of the Nigerian National Petroleum Corporation (NNPC), and is the world's largest petrol importer. “We actually import one million ...
Nigeria has commenced legal proceedings against Chinese owned oil firm, Addax Petroleum, for recovery of the sum of $3 billion alleged to be under-remitted royalties, and taxes by the company In the documents filed before Justice Olatoregun on Friday, Nigerian governments said the funds are ...
RESOURCE-RICH Nigeria has long ignited interest from oil firms, but it can be a dangerously combustible environment when it comes to the risk of ... In 2010 both entered into deferred-prosecution agreements with America's Department of Justice after being implicated in separate Nigerian bribery ...
All through 2016, Nigeria's economy was bogged by its first recession in two decades and strict currency policies amid low oil prices. But, 2017 was very different. The latest data from Nigeria's National Bureau of Statistics (NBS) shows Nigeria's economy recorded 0.83% growth in 2017. The meager growth ...
As OPEC allies push to restrict oil output in an international attempt to bolster crude prices, Nigerian producers are heading in the opposite direction, aspiring to increase output by 250,000 more barrels a day to reach their overall goal of 2.5 million per day by 2020. Look no further than Shoreline Group, ...

Just one shipment of Nigeria's Qua Iboe brand will be delivered to India out of the May load, the news organization reported. Talks of curtailed supply for June exports are been discussed with the Nigerian National Petroleum Company (NNPC), as traders predict that oil majors; Shell, Total and British ...
Workers of Addax Petroleum Development Nigeria Limited under the umbrella of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, commenced indefinite strike on Monday over alleged impunity by the management of the company. According to reports, the striking workers ...
Nigeria has maintained an excellent record in the submission of data from its oil and gas sector in the past three years, the Organisation of Petroleum Exporting Countries has said. According to OPEC, Nigeria had during the period under review submitted accurate, complete and timely data of activities in its ...
The Practical Nigerian Content hosted by the Nigeria Content Development and Monitoring Board (NCDMB), the Nigerian Oil and Gas Conference and Exhibition (NOG), the West Africa International Petroleum Exhibition and Conference (WAIPEC), Offshore West Africa (OWA) and OTL West Africa ...
It is however, expected that the component parts of the Petroleum Industry Bill will adequately address this when finally passed into law. But for the time being, not much has been achieved. The need for greater transparency in Nigeria's oil and gas sector cannot be overemphasized if government's efforts at ...
NIPS, according to the Permanent Secretary of the Ministry of Petroleum Resources, Folasade Esan, represents ”Nigeria's contribution to the quest for a sustainable platform for global industry players to come to Africa in the interest of the oil industry.” “It is designed to be Africa's largest and most important ...
As OPEC allies push to restrict oil output in an international attempt to bolster crude prices, Nigerian producers are heading in the opposite direction, aspiring to increase output by 250,000 more barrels a day to reach their overall goal of 2.5 million per day by 2020. Look no further than Shoreline Group, ...
A picture taken on September 16, 2015 shows workers trying to tie a pipe of the first refinery in Nigeria, which was built in 1965 in oil rich Port Harcourt, ... Price support has also been coming from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries ...
The Movement for the Survival of the Ogoni People (MOSOP) on Wednesday said it has uncovered a plot by key oil industry operators in Nigeria to kill its ... “We call on the Ogoni people to be mindful of these devilish plots by the Nigerian oil industry being orchestrated by Belema Oil Producing Limited and ...
One notable change under the PIGB is the break-up of the Nigerian National Petroleum Corporation (NNPC). The creation of several new organisations is also significant. These include a National Petroleum Company (NPC), which will handle state stakes in upstream ventures, and Nigeria Petroleum ...
Nigeria Oil Summit Holds Feb 19-23, 2018 ... Limited, Chikezie Nwosu, Managing Director, Niger Delta Petroleum Development Company Limited, Dr. Layi Fatona, and President, the Nigerian Academy of Engineering, Engr. J. Olu Maduka will identify next steps to take in moving forward with Strategic ...
Lessi Phillips was only 16 when a Shell oil pipeline burst near her village, in Nigeria's resource-rich Niger Delta in 2008. In the 77 days that followed, vast quantities of oil seeped into mangrove swamps near Bodo City, devastating the diverse ecosystem and destroying once-vibrant local fisheries and farms ...
Gunmen have kidnapped five oil workers of Nigerian energy firm Sahara Energy Oil Company in the southern oil-rich Delta state, hours after the most notorious militant group had warned of imminent attacks on Nigeria's oil infrastructure, local media report. Suspected gunmen abducted the workers on ...
As early as 1989, business executives in Britain received word via Telex that in exchange for some cash a tanker of Nigerian crude oil “could have its cargo claimed for bargain prices,” The New York Times reported in 2014. The fraud went global when oil prices crashed in the 1980s along with Nigeria's ...
The Vice President/Head of Energy Research, Ecobank, Mr. Dolapo Oni, said, “It ($66 oil price) is definitely good for Nigeria. The good thing is that over the ... “Having said that, even at $65 per barrel, the Nigerian revenue equation is quite positive, compared to previous years. So, we are in a good place.”.
The Nigeria Extractive Industries Transparency Initiative (NEITI) on Friday said Nigeria lost 54.6 per cent of oil revenue, amounting to 29.7 billion dollars in ... in collaboration with International Oil Companies (IOCs), money was paid to the National Intelligence Agency, the Nigerian Navy and a host of others.
The controversial arrangement was introduced by the Nigerian National Petroleum Corporation under the supervision of the then Minister of Petroleum ... It was an arrangement that involved the allocation of Nigeria's crude oil to select indigenous and foreign oil traders under agreed swap contract terms, ...
File: Motorists gather at a petrol station of state-owned energy company Nigerian National Petroleum Corporation (NNPC) in Abuja, Nigeria in 2015. ... JOHANNESBURG – Many motorists and commuters have been stranded in Nigeria over the Christmas period following a three-week fuel shortage, ...
LONDON — An Italian judge ruled on Wednesday that two of the world's largest oil companies, Royal Dutch Shell and Eni, the Italian company, must go on trial on charges of corruption over a $1.3 billion oil deal in Nigeria. The judge set a March 5 trial date in Milan for the companies as well as a group of ...
Oil industry analyst Bassey Udo points out that, “the primary reason for the current crisis is that the Nigerian National Petroleum Company (NNPC), is the only importer of petroleum products. It also gives preference to the major marketers—Mobil, Conoil, Total, Forte Oil—in its allocation, rather than ...
The Depot and Petroleum Products Marketers Association (DAPPMA) on Tuesday expressed concern over the inability of Nigerian National ... “DAPPMA members import about 65 per cent of the nation's total fuel consumption, Major Oil Marketers Association of Nigeria (MOMAN) imports about 15 per cent ...
So, the Nigerian National Petroleum Corporation has been importing the totality of fuel being used in Nigeria. “But because ... Ibrahim in his own remarks said, “It is a shame, sad and disheartening that a country that is producing oil and is one of the largest producers in the world, cannot get oil. “The timing ...
Again, this is contrary to claims by the Nigerian National Petroleum Corporation, NNPC, and its downstream subsidiary, the Petroleum Products Marketing ... “NNPC imports and distributes through DAPPMA, Major Oil Marketers Association of Nigeria, MOMAN, and Independent Petroleum Marketers ...
File: Motorists gather at a petrol station of state-owned energy company Nigerian National Petroleum Corporation (NNPC) in Abuja, Nigeria in 2015. ... JOHANNESBURG – Many motorists and commuters have been stranded in Nigeria over the Christmas period following a three-week fuel shortage, ...
Authorities in both countries have issued several reassurances and statements over the course of the week, but none of the government's actions seem to be bearing fruit in resolving the shortages. Nigeria's state oil firm said on Thursday it had more than doubled the daily supply of fuel for motorists to 80 ...
Francis Olabode Johnson, National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in this interview with .... We have to be very proactive by coming to the table early enough to see how we can address the issues in the larger interest of the Nigerian nation.
Residents of the Bayelsa region in Nigeria disrupted oil production at a field operated by Shell on Wednesday, shutting down two oil wells, a report by the Sahara Reporters said. Protestors shut down Adibawa wells 4 and 10, which feed into a flow station of the same name. Hundreds of demonstrators ...
The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, disclosed this on Tuesday during a visit to the Group Managing Director of the Nigerian National Petroleum Corporation ...
Nigeria has hundreds of oil spills every year, many of them on land that people have to farm, work and live on. New research by scientists at the University of St Gallen in Switzerland says these spills could be causing the deaths of young children. The BBC went to the Niger Delta to meet some of the ...
Aluko is a central figure in criminal trials for money laundering and petro-business corruption now underway in Houston, Lagos, and London. ... The relevant scheme involved Aluko allegedly brokering deals for Nigeria's then Minister of Petroleum Resources, Diezani Alison-Madueke. Between 2010 and ...
Nigeria's energy minister on Wednesday insisted that OPEC and Russia are in agreement on extending oil production cuts, even as the market sold off on ... Nigerian Minister of Petroleum Resources Emmanuel Ibe Kachikwu, who attended the Wednesday meeting but does not sit on the committee, ...
Its writers took two sets of data - the Nigerian Oil Spill Monitor, which records the time and location of oil spills, and the Demographic Health Survey, which has records of the birth histories of Nigerian mothers. They looked at children conceived after a spill and compared their health outcomes with siblings ...
Ike Ekweremadu, says restructuring Nigeria is inevitable for ... “In fact, oil and gas is among the least strategic endowments of the nation today ...


 

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