Afren could face SFO probe into executive pay scandal
An investigation could be launched by the Serious Fraud Office (SFO) into the collapse of an oil company which had been advised previously by a Tory MP.
Nigeria
S&P downgrades Nigeria further into junk as oil crisis worsens
S&P Global Ratings downgraded Nigeria further into junk territory as Africa’s most populous nation struggles amid low oil prices and severe shortages of foreign-exchange.
Funding Nigerian oil cash calls from debt key for economy – minister
Nigeria must get out of paying so-called cash calls to joint ventures with oil and gas companies, according to the country's Finance Minister.
Canadian Overseas Petroleum completes acquisition of Nigerian asset
Canadian Overseas Petroleum said it has completed the acquisition of 80% of the share capital of Essar Exploration and Production Limited in Nigeria.
Nigerian military makes Niger Delta arrests
Nigeria said its military has made an arrest of a suspected leader of the Niger Delta Avengers militant group.
Shell Nigeria lifts force majuere on crude oil exports
Oil major Shell has lifted a force majeure in place on bonny light crude oil exports from Nigeria which had been in place since last month.
Nigeria in recession amid oil production drop
The Nigerian economy - Africa’s largest - is officially in recession.
Nigeria slump deepens as economy shrinks 2.1% in second quarter
Nigeria’s economic slump deepened in the second quarter as a declining oil industry weighed on output.
Militants attack Niger Delta pipeline
A militant group has taken responsibility for an attack on a pipeline operated by the Nigerian Petroleum Development Company (NPDC).
Shell declares force majeure in Nigeria due to pipeline shutdown
Shell’s Nigerian business has declared force majeure for Bonny Light crude oil for the second time in just over a month after a leak led to a pipeline shutdown in the restive Niger Delta, a news report said.
Nigerian protestors blockade Chevron oil depot – report
Protesters blocked access to an oil facility owned by Chevron in Nigeria’s restive Niger Delta earlier this week, a news report said.
Shell declares force majeure on gas supplies to Nigerian export facility
Oil major Shell has declared a force majeure on gas supplies to the Nigeria Liquefied Natural Gas (NLNG) export facility on Bonny Island.
Nigeria fights slump with spending as Emefiele targets inflation
Nigeria’s government is looking to spend its way out of an economic slump after its own central bank said it can’t bolster growth and is instead targeting inflation with a record interest rate.
Nigeria resumes paying ex-Delta militants as oil output drops
Nigeria resumed payments to former militants in the oil-rich Niger River delta and the military targeted gangs involved in sabotage of pipelines, as the government responded to sustained attacks on infrastructure that dragged crude production back to an almost 30-year low.
Nigerian arrested after scamming firms of $60m
A Nigerian accused of scamming $60 million from companies around the world through fraudulent emails has been arrested by Interpol.
Shell pipeline attacked by Nigerian militant group
Nigerian militants have blown up a crude pipeline operated by oil major Shell.
Niger Delta Avengers claim responsibility for NNPC pipeline attack
The Niger Delta Avengers (NDA) have claimed responsibility for a pipeline explosion in Nigeria's Akwa Ibom state.
Exports of Nigeria’s largest crude oil stream to remain under force majeure
Exports of Nigeria's largest crude oil stream, Qua Iboe, will remain under force majeure for at least one month while operator ExxonMobil repairs a leak on the pipeline feeding the terminal, according to reports.
Avengers cripple Africa’s largest economy with pipeline sabotage
They sound like superheroes from a Marvel movie, but the Niger Delta Avengers are real and they’re crippling Africa’s largest economy.
Niger Delta Avengers: What we know so far
Militant group the Niger Delta Avengers (NDA) has vowed to start attacking personnel as it continues its fight for oil assets in the West African country.
MX Oil celebrates oil flow from Aje Field
MX Oil was today celebrating the production upstart of its Aje Field in Nigeria.
Sirius Petroleum wins Nigerian governmental approval for Ororo licence
Sirius Petroleum has won approval from the Nigerian Federal Ministry of Environment for is safety assessment on the Ororo field licence.
Q&A: Why Nigeria’s oil wells are being blown up again
Nigeria’s oil wells and pipelines are being blown up again. The rebel group claiming responsibility says it wants to expose corruption and earn justice for impoverished local communities in the oil-rich Niger River delta. Attacks resumed this year after Nigerian President Muhammadu Buhari ended security contracts and payments that had turned earlier militants into protectors and achieved relative peace since 2010. Oil accounts for two-thirds of Nigeria’s government revenue, and almost all of its exports. Nigeria produced 1.4 million barrels a day in May, the lowest in 27 years, according to the International Energy Agency.
“Personnel are going to be our next casualties, not pipelines” says Niger Delta Avengers
The Niger Delta Avengers (BDA) have threatened to target ExxonMobil's staff if it tries to repair its Que Iboe 48-inch Crude Oil Export Pipeline in Akwa Ibom.
Oil rises as ExxonMobil declares force majeure on shipments of Nigeria’s biggest crude export grade
Oil rose as Exxon Mobil Corp. declared force majeure on shipments of Nigeria’s biggest crude export grade. Futures rose as much as 0.5 percent in New York, reversing an earlier decline of 1.4 percent. Force majeure was declared on Qua Iboe crude after “a system anomaly observed during a routine check of its loading facility,” Exxon said in an e-mailed statement Friday. This follows a similar disruption in May and June. The Niger Delta Avengers, a militant group that has targeted oil installations in Nigeria this year, claimed earlier this week that they attacked the Qua Iboe crude pipeline. Oil has traded between about $44 and $51 a barrel in the past month after almost doubling since February amid a spate of supply disruptions including the attacks in Nigeria. While there’s still a consensus that the worst of the oil glut that sent prices to a 12-year low is over, the International Energy Agency cautioned this week that “the road ahead is far from smooth” amid seasonal weakness in demand and the return of some halted supply. West Texas Intermediate crude for August delivery was at $45.79 a barrel on the New York Mercantile Exchange, up 11 cents, or 0.2 percent, at 1:14 p.m. London time. The grade rose 93 cents to settle at $45.68 on Thursday. Total volume traded was about 6 percent below the 100-day average. Brent for September settlement increased 12 cents to $47.49 a barrel on the London-based ICE Futures Europe exchange. The contract increased $1.11 to $47.37 on Thursday. The global benchmark crude traded at an 96-cent premium to WTI for September delivery.