Nigeria militants Readying to hit Pipelines in Niger Delta
A Nigerian militant group, which has claimed attacks on oil pipelines in the Niger Delta, said in a statement on Friday that it had asked its fighters to prepare to fight the "enemy" as authorities were not ready for dialogue. "It has been evidently clear that the Nigerian state is not ready for any form of dialogue and negotiation," the Niger Delta Avengers said in a statement posted on its website. (Reporting by Vishal Sridhar and Ulf Laessing, editing by G Crosse)
Eni Will Deepen Involvement in Nigeria's Energy Industry
Italy's Eni plans to deepen its involvement in Nigeria's energy industry, increasing oil and gas exploration and helping to restore one of the country's ailing refineries, the company said in a statement on Monday. Chief Executive Claudio Descalzi and Nigeria's Minister of State for Petroleum Resources, Emmanuele Ibe Kachikwu, met in Rome this week to sign several memorandums of understanding (MOU) to "further strengthen" Eni's involvement in Nigeria.
Shell Nigeria Shuts Bonga Oil Field For At Least A Month
Shell Nigeria Exploration and Production Company (SNEPCo) halted production at Nigeria's Bonga oil field on March 4 for maintenance that will last at least a month. SNEPCo said in a statement that Bonga, which has capacity to produce 225,000 barrels per day (bpd) of oil and 150 million standard cubic feet (scf) of gas, is expected to resume production at at some point in April, without giving further details. Market sources had expected work on the field because there were no exports planned in March…
Aiteo Growing O&G Production in Nigeria
Integrated energy group Aiteo has announced a peak production of 90kpod a year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29. Aiteo acquired OML 29 in September, 2015 when oil major Shell Petroleum Development Company (SPDC) fully exited the facility. At the time of the divestment, average production was 23Kbpod. But Aiteo, one of the frontline sponsors of the justconcluded 16th Oil and Gas (NOG) Conference held in the country’s capital Abuja…
Unpaid Wages, Sackings Stir New Tension in Nigeria's Oil Hub
The moment a group of Nigerian contractors met executives from Italian oil major ENI to discuss unpaid wages they started shouting, calling them fraudsters and liars until a police commander restored calm. Wenenda Mpi, local manager of ENI unit Agip, blamed the payment delays on debts owed by the Nigerian National Petroleum Corporation (NNPC) and said the government had promised to sort the problem out. The heated meeting, called after hundreds of ENI contractors threatened a protest that police feared could turn violent…
Eni, Shell Deny Illicit Payments in Nigeria
Oil majors Royal Dutch Shell and Eni reiterated on Monday that neither they nor their personnel had been involved in any wrongdoing in Nigeria, including improper payments to Nigerian officials. The comments follow media reports alleging how hundreds of millions of dollars from the two companies were used for illicit payments. A joint investigation by BuzzFeed News and Italian newspaper Il Sole 24 Ore on Sunday claims to show…
Shell Knew Payments Would Go to Nigeria's Malabu
Royal Dutch Shell has said it knew that some of the payments it made to Nigeria for the rights to an oilfield would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer. Shell spokesman Andy Norman said the group had known the Nigerian government "would compensate Malabu to settle its claim on the block". Shell previously had said only that its payments from the 2011 deal went to the Nigerian government.
Nigeria Aims to Pass Delayed Oil Bill by Year End
Nigeria's upper house of parliament aims to pass the country's long delayed oil reform bill before the end of the year, Senate Committee Chairman on Petroleum Upstream, Tayo Alasoadura said on Thursday. The legislation is part of proposed reforms that make up the sprawling Petroleum Industry Bill, which has been in discussion for over a decade and redrafted many times but has yet to be passed into law. (Reporting by Camillus Eboh; Writing by Chijioke Ohuocha, editing by David Evans)
Eni to Build Crude Oil Refinery in Nigeria
Italian oil company Eni plans to build a crude refinery in Nigeria through its Agip subsidiary, the country's oil minister said on Tuesday. Agreement has been reached and a memorandum of understanding is being prepared, Emmanuel Ibe Kachikwu told reporters after meeting Eni executives in Abuja. (Reporting by Felix Onuah; Writing by Ulf Laessing)
Workers Strike at Exxon Mobil in Nigeria
Nigerian workers at U.S. oil major Exxon Mobil Corp have gone on strike in protest over the sacking of workers, oil labour union officials said on Thursday. Nigerian labour unions have criticised oil companies for sacking workers in the last few months and held a number of strikes. Abel Agarin, who chairs the Lagos zone of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said members of his union were on strike in protest at the sacking of 150 workers in December. He said 82 were PENGASSAN members.
Nigeria's Senate Passes Oil Governance Bill
Nigeria's Senate passed a long-awaited oil governance bill following its third and final reading, it said on its official Twitter feed on Thursday. The Petroleum Industry Governance Bill is part of proposed reforms that make up the sprawling Petroleum Industry Bill (PIB), aimed at overhauling the OPEC member's energy industry. The PIB, which has been discussed for over a decade following several redrafts and is central to President Muhammadu Buhari's reform plans…
Nigeria Bill Aims to Break Up NNPC
The long-awaited oil governance bill passed by Nigeria's upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by a regulatory body and a fund to oversee the distribution of money. The Petroleum Industry Governance Bill, passed on Thursday by the Senate, is part of planned reforms that make up the sprawling Petroleum Industry Bill (PIB), discussed for over a decade following several redrafts, aimed at revamping the OPEC member's energy sector.
Nigeria Oil Exports Continue to Climb
Nigeria issued its first Forcados oil loading plan since 2016, putting the nation's June oil exports on track to hit thier highest level in at least 15 months. The plan, if realised, would return loadings by Nigeria, normally West Africa's biggest oil exporter, to levels not seen since militant attacks in the oil-rich Niger Delta first shut down Forcados exports in early 2016. It is also likely to put more downward pressure on oil prices…
Nigeria Refining Capacity is One-sixth of Needs -Oil Minister
Nigeria's daily domestic refining capacity is now at 6 million litres, while the country's daily consumption stands at 35 million litres, the country's oil minister said on Thursday. The Minister of State for Petroleum Resources Ibe Kachikwu gave the comments at a press briefing in the capital of Abuja. Nigeria is pushing to refurbish its decrepit refineries, as the country is still mainly dependent on exporting crude oil for imports of refined products.
Egina FPSO to Arrive in Nigeria
On a recent visit to South Korea to inspect the Egina FPSO project, and FPSO scheduled to arrive in Nigeria in August 2017, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said the ongoing construction of the multi-billion dollar Egina Floating Production Storage and Offloading (FPSO) project will increase the knowledge base of NIMASA as a safety administration and enhance its regulatory capacity.
OPEC Oil Output Jumps to 2017 High as Nigeria, Libya Pump More
OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers. High compliance by Gulf producers Saudi Arabia and Kuwait helped keep OPEC's adherence with its supply curbs at a historically high 92 percent in June, compared with 95 percent in May, the survey found.
Nigeria's State Oil Company Signs Deals with Chevron, Shell
Nigeria's state oil company said on Thursday it had signed agreements with Chevron and Shell to boost crude production and reserves. The Nigerian National Petroleum Corporation (NNPC) said a joint venture agreement with Chevron Nigeria Limited would see the development of proven and probable reserves of 211 million barrels. It said a joint venture with Shell Petroleum Development Company would lead to the development of a project…
Nigeria's Oil Minister to Engage with Union to Avoid Possible Strike
Nigeria's oil minister said on Thursday the government would engage with the Petroleum and Natural Gas Senior Staff Association of Nigeria after the trade union threatened to launch a nationwide strike. "I have directed that they should be engaged quickly to resolve what the issues are as soon as possible," Emmanuel Kachikwu told reports in the capital, Abuja, after the union said it would strike from Dec. 18 over what it said was a mass sacking of workers. Reporting by Felix Onuah
Shell, Eni Accused in Alleged Nigeria Corruption
An Italian judge has ordered Royal Dutch Shell and Eni to stand trial over alleged corruption in Nigeria with the CEO of Eni among past and present managers involved, legal sources said on Wednesday. The case involves the 2011 purchase by Eni and Shell of Nigeria's OPL-245 offshore oilfield - one of Africa's most valuable oil blocks - for about $1.3 billion. Besides the two companies, 13 people including Eni CEO Claudio Descalzi and former chairman of the Shell Foundation Malcolm Brinded were put on trial, the sources said.
Nigeria Needs Billions in New Investment to Raise Oil Output
Nigeria needs at least $14 billion a year in new investment over the next five years to raise oil output to 2.2 million barrels a day (bpd) and even higher spending to lift it to 3 million bpd, the head of a company producing oil in the country said. Ladi Bada, chief executive of Shoreline Natural Resources, a joint venture with oil and gas interests in southern Nigeria, estimated that about $9 billion a year is currently being invested in the oil industry from public and private sources.