Wednesday, August 15, 2018

Nigeria News

Spanish LNG Cargoes Set for Export from Gas Terminals

© Pere Sanz / Adobe Stock

The following table lists liquefied natural gas (LNG) cargoes set to be loaded on tankers for onward export.Spain is Europe's most diversified gas importer and has the continent's biggest LNG import capacity spread across its six terminals, sourcing LNG from Qatar, Nigeria, Trinidad, Algeria and other producers.Imported cargoes are stored in tanks located at terminals, where the LNG can either be regasified and pumped into the local grid or loaded on to new tankers for export.PortLoading window dateVolume (in cubic meters)TankerB

CNIV Module Installed on Erha FPSO in Nigeria

ERHA FPSO  (Photo: Jumbo)

The Jumbo Javelin and her team have successfully installed a 100t Calcium Nitrate Injection Vessel (CNIV) module on the ERHA FPSO offshore Nigeria for Mobil Producing Nigeria (MPN).For this assignment the Jumbo Javelin had the Fly-Jib installed in Singapore. The 16-meter x 700t SWL Fly-Jib gives essential additional lifting height when mounted on the vessels forward crane.Once the Fly-Jib was installed the Jumbo Javelin proceeded to Lagos where she loaded the 100t CNIV.After departure from Lagos to the field…

Glencore Gets U.S. Subpoena on Compliance with Money-Laundering Laws

File Image (CREDIT: AdobeStock / © Renaschild)

U.S. demands documents on business in Nigeria, DRC, Venezuela; Glencore shares fall as much as 13 percent. U.S. authorities have demanded the U.S. arm of Glencore Plc hand over documents relating to its business in Nigeria, the Democratic Republic of Congo and Venezuela, sending shares in the parent company down more than 10 percent. The Swiss-based commodities trader and miner said its subsidiary had received a U.S. Department…

Aqualis Offshore to Position Egina FPSO

(Photo: Aqualis Offshore)

Aqualis Offshore has been handed the position keeping role for installation of the floating production storage offloading unit (FPSO) at Total’s Egina field offshore Nigeria.EPCIC contractor for the $3.3 billion FPSO, Samsung Heavy Industries, has awarded the position keeping work to Aqualis Offshore. The newbuild Egina FPSO was towed from South Korea and arrived in Nigeria in late January for final integration of topside modules…

Calm in Oil Markets Could be Short-lived -IEA

© think4photop / Adobe Stock

Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S.

China Willing to Invest $3 Bln in Nigerian Oil Operations

China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.During a visit to Nigeria's state-owned NNPC, CNOOC Chief Executive Yuan Guangyu said the Beijing-based oil company had invested more than $14 billion in its Nigerian operations and expressed readiness…

Unique Group Enters into West Africa JV

Subsea and offshore solution provider Unique Group said it has formed a joint venture (JV) with Nigeria-based Charkin Maritime & Offshore Safety Ltd, a professional training company for the maritime and offshore oil and gas industries.The newly formed JV, Unique Charkin System Ltd, based out of Port Harcourt in Nigeria, offers a full range of support to the oil and gas market in Nigeria and will further extend services into Sub-Saharan Africa.Although already active in the region for some time…

Africa's Richest Man Arranges $4.5 Bln of Financing for Oil Refinery

Africa's richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters.Dangote, who built his fortune in cement, is building the world's largest single oil refinery with capacity of 650,000 barrels per day (bpd) to help to reduce Nigeria's dependence on imported petroleum.Despite being a crude oil exporter, Nigeria…

OPEC July Oil Output Hits 2018 Peak, but Outages Weigh

© Sergiy Serdyuk / Adobe Stock

OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran and Libya limited the increase.The Organization of the Petroleum Exporting Countries has pumped 32.64 million barrels per day in July, the survey on Monday found, up 70,000 bpd from June's revised level and the highest this year with Congo added.OPEC and allies agreed last month to boost supply as U.S.

Shell to Make Final Investment Call on Nigeria Oilfield in 2019

Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria's Bonga Southwest offshore oilfield, a senior company official said on Tuesday.The project, one of the country's largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Company, told reporters.Shell…

Shell: Nigeria's Bonny Light Still Under Force Majeure

Royal Dutch Shell said on Wednesday a declaration of force majeure remained in place on shipments of Nigerian Bonny Light crude oil, while exports at the Forcados shipping hub were running as normal. Shell's Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Ltd (SPDC), said on May 17 it had declared force majeure on exports of Bonny light following a shutdown on the Nembe Creek Trunk Line stream. Exports of Bonny Light are expected to run at around 195…

Italy Top Court Rejects Appeal to Stymie Shell, Eni Corruption Trial

Italy's Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a trial on alleged corruption in Nigeria, which also sees Eni's chief on the bench, legal sources said on Wednesday.The long-running graft case revolves around the 2011 purchase by Eni and Shell of Nigeria's OPL-245 offshore oilfield for about $1.3 billion. The trial kicked off last month, with the next hearing set for June 20.The appeal…

Hardy Takes Over as Vitol CEO

Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor said two years ago he was battling cancer although he continued to travel the world, chasing deals from Africa to the United States and Australia while also working as chairman of the board of trustees for London's Royal Opera House.

Shell Targets Former Senior Executive in Nigeria Graft Complaint

Royal Dutch Shell has filed a criminal complaint against a former senior employee over suspected bribes in the $390 million sale of an oilfield in Nigeria, where the company is already under investigation over a separate deal. Dutch prosecutors confirmed they had received the complaint against Peter Robinson, a former vice president for sub-Saharan Africa. They said it would be included in an ongoing investigation into Shell and Italy's Eni over the acquisition of a different Nigerian oilfield, known as OPL 245.

JP Morgan Knew Ex-minister Linked to Firm in Nigeria Oilfield Deal

JP Morgan Chase has acknowledged it knew a former Nigerian oil minister convicted of money laundering would benefit when it transferred over $800 million of government funds to a company he controlled, according to a court document seen by Reuters. JP Morgan made the acknowledgement in its legal response to a lawsuit filed by Nigeria over transactions made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011.

Shell: Nigeria Payments, Oil Theft Climbed in 2017

Shell's payments to the Nigerian government grew to $4.32 billion in 2017, up nearly 19 percent from $3.64 billion in 2016, according to its annual sustainability report released on Monday. The bulk of the payments, $3.197 billion, went to state oil company NNPC for production entitlement. Crude oil theft from pipelines of Shell's Nigerian subsidiary SPDC increased by some 50 percent, rising to roughly 9,000 barrels per day (bpd) in 2017 from 6,000 bpd in 2016, the report said.

Subsea 7 Awarded Contract Offshore Nigeria

(Photo: Subsea 7)

Subsea 7 S.A. announced it was awarded a contract by Mobil Producing Nigeria Unlimited (MPN) for the Production Uplift Pipeline Projects (PUPP) in shallow water, offshore Nigeria. The contract scope includes engineering, construction, transportation, installation and pre-commissioning of 20 kilometres of 24" Corrosion Resistant Alloy (CRA) pipeline between the Idoho Platform and the terminal onshore and of 2 kilometres of 24" CRA pipeline between the Edop and Idoho Platforms…

Nigeria's State Oil Firm Illegally Paid $707 mln in Fuel Subsidies

Nigeria's state oil company illegally paid 216 billion naira ($707.4 million) in fuel subsidies in 2017, according to a Senate probe, the findings of which were released on Thursday.The investigation by the upper legislative house said that parliament had not approved those payments by the Nigerian National Petroleum Corporation last year, and any further spending on subsidies should be halted with immediate effect.Reporting by Camillus Eboh Writing by Paul Carsten

[Op/Ed] Congo and OPEC: A Marriage of Mutual Need

NJ Ayuk (Photo: Centurion Law Group)

The Republic of the Congo has suffered dearly during the oil collapse; and Congolese President Denis Nguesso has pledged that the country would no longer be sitting on the side lines — suffering the effects of global decision-making in the oil industry without a voice. In an official communiqué announcing the bid for OPEC membership, he stated that he wished to “place our country in the rank of the world’s leaders.”In January…

L.A.T.C Marine to Install Two Ampelmann Systems

Ampelmann’s L-type gangway system is particularly suited to small, crew change vessels and allows a continuous flow of up to 50 personnel every five minutes Photo courtesy Ampelmann

Ampelmann has secured two contracts with vessel owner L.A.T.C Marine Limited, on behalf of ExxonMobil, for the supply of two L-type gangway systems, offshore Nigeria. Following successful sea trials of the L-type gangway system, the integrated solution was approved for operations. Vessel owner L.A.T.C Marine has installed the personnel transfer system on its Damen FCS-5009 Fast Crew Supplier vessel Dijama for in field operations with ExxonMobil.