Royal Dutch Shell Plc has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced Nigerian regulator dealing with leakages said had been decontaminated, Amnesty International said in a report on Tuesday.
Administrators of UK oil explorer Afren have raised more than £300,000 from the sale of African artwork owned by the company. The array of Nigerian artwork was put up for auction at Bonhams after the company began experiencing trouble earlier this year. Two months ago the Financial Conduct Authority (FCA) said it had cancelled trading shares from the company on the London Stock Exchange.
A Nigerian court declared the election of a governor in one of the country’s oil hubs as invalid due to irregularities. A fresh vote has been called for within three months in the Rivers State region as concern is raised it could lead to tension. It comes after former militants in the southern region said they might resume a fight for a greater share of oil revenues if President Muhammadu Buhari ends an amnesty due to expire in December.
A service station in Nigeria is getting its power – from solar panels. The Onigbagbo solar-powered site in Lagos, Nigeria is the first of its kind In West Africa. Total said the construction of the service station was part of an effort to provide alternative energy solutions.
Nigeria’s government plans to split an oil- industry bill stuck in parliament for seven years and resubmit it to lawmakers after it held up reforms and deterred investment in Africa’s largest crude producer, Vice President Yemi Osinbajo said. Breaking up the Petroleum Industry Bill, or PIB, into smaller laws focused on fiscal and regulatory measures in Nigeria’s energy industry would make it easier to pass through parliament, he said. The bill, first presented to parliament in 2008, will be resent to lawmakers in the first quarter of 2016.
MX Oil said successful peforation of the reservoior on its Aje 5 well offshore Nigeria took it closer to its goal of becoming a multi-asset investment company.
Dozens of people have been killed in a series of bombings in Nigeria. At least 18 people were killed early today when four women suicide bombers were challenged by soldiers as they tried to enter Maiduguri, according to the National Emergency Management Agency. The explosions happened just hours after two blasts near a mosque in the city killed at least 30 people.
Nigeria’s state oil company recorded a loss of $1.9 billion in the first eight months of this year mainly because of fuel subsidy spending, it said in a publication that seeks to bring transparency to the organisation.
The co-chairman of Nigerian independent Atlantic Energy has reportedly been arrested over alleged corruption and money laundering charges. The move comes just days after the former Nigerian oil minister under President Goodluck Jonathan was arrested before being bailed in the UK.
Nigeria must stop using its rich oil resources as a 'cash cow' if it is to reform the nation's politics and economy, according to a leading expert.
Oil major Shell said it has launched the start-up of production from the Bonga Phase 3 project in Nigeria. The Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil and 150 million standard cubic feet of gas per day. The field has been producing oil and gas since 2005 and was Nigeria's first deepwater development in depths more than 1,000 metres.
Nigeria’s former oil minister was arrested in London on Friday, according to reports. Diezani Alison Madueke held the role for five years under the presidency of former leader Goodluck Jonathan. The UK National Crime Agency (NCA) said five people had been arrested across London as part of an investigation into suspected bribery and money laundering offences. It is understood Madueke was granted bail a few hours after being arrested.
President Muhammadu Buhari’s decision to control Nigeria’s oil industry emphasises the significance that the sector has for the country.
Oil giant Shell has completed the sale of Smart Fuel to St1 Nordic Oy of some of its downstream businesses in Norway. The company said it would still continue to remain highly visible in the country, despite the deal for its retail, commercial fuels and supply and distribution logistics businesses. Shell and St1 have also joined forced to create Aviation Fuelling Services Norway AS, a joint venture to sell aviation fuel in Norway.
Oil major Shell has declared a force majeure and halted crude exports from a key terminal in Nigeria after a pipeline leak. The company said the move was taken after a leak in the Trans Forcados pipeline which affected crude exports from one of the country’s main export points. The terminal has the capacity to export up to 400,000 barrels a day.
Nigeria’s President Muhammadu Buhari said he will hold the country’s oil portfolio in his new cabinet, rather than trust anyone else with the source of most of its revenue. Buhari, who took office earlier this year, has promised to combat corruption and made clear he wants to overhaul the oil sector in Africa’s biggest economy. At an annual meeting of world leaders at the United Nations General Assembly in New York this week Buhari said he intended to remain as the minister of petroleum resources.
UK oil and gas investment company MX Oil is looking ahead to a "game changing" end of year with progress made in Mexico and imminent production expected from its Nigerian assets.
A preliminary report by the Accident Investigation Bureau (AIB) in Nigeria has found a fatal offshore helicopter crash may have been caused by a malfunction of one of the aircraft parts. The crash, which happened last month, caused the death of two crew members and four passengers on board. There had been 12 people on the helicopter when the incident happened.
Sirius Petroleum has raised a total of £1,035,000 to help fund exploration opportunities in Nigeria.
Nigerian financial and energy companies are finding it increasingly hard to get hold of foreign currency due to central bank restrictions and may struggle to repay their debts.
French oil major Total, operator for the Egina oil field offshore Nigeria, has successfully installed acoustic specialist Sonardyne's Fusion 6G subsea positioning network to support its development of the $15billion project.
Nigeria’s sovereign wealth fund doesn’t expect any major payments from the government as the finances of Africa’s largest oil producer have been hit by a halving in crude prices in the past year. “The weakness in crude oil prices might persist for the foreseeable future, thereby potentially impacting on new contributions from the federation,” Nigerian Sovereign Investment Authority Chairman Mahey Rasheed said in its 2014 annual report released on Thursday.
Oil major Shell has declared a force majeure on exports of Bonny Light crude after two pipes were forced to shut down in Nigeria.
Hydrocarbon investment company MX Oil has said it is closer to securing additional assets in Mexico.
Nigeria’s Accident Investigation Bureau (AIB) has recovered the flight data recorder from a helicopter which crashed on the way from an oil platform. The incident earlier this month left six people dead and others injured after the Sikorsky 76 Bristow helicopter crashed into a lagoon. The aircraft had been carrying 10 passengers and 2 crew when the incident happened.