Nigeria News

 

Eni Seeks Arbitration in Nigeria Offshore Oil Block Dispute

Oct 13, 2020

Eni has filed a request for arbitration against Nigeria at the World Bank's dispute settlement body and plans to argue that the country's failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell nearly a decade ago breaches their investment agreement, court documents show.OPL 245, an offshore field awarded to the two oil companies in 2011, is the subject of multiple court cases worldwide…

Oil Firms Boost Nigeria Security as Protests, Job Cuts Stoke Tension

Nov 18, 2020

Oil companies have asked security services to tighten surveillance as violent anti-police brutality protests and the expected sacking of hundreds of workers worsen desperation in the region, industry sources told Reuters.Already unemployment…

Nigerian Long Delayed Oil Reform Bill to Pass 'Within Six Months'

Nov 18, 2020

Nigeria's House of Representatives will pass a long-delayed oil reform bill within six months, its speaker said on Tuesday, potentially paving the way for an overhaul of laws governing the country's oil and gas industry.The reforms have been…

Nigeria Case Against JP Morgan over OPL 245 Offshore Oil Deal to Go to Trial

Nov 12, 2020

A lawsuit launched by the Nigerian government against U.S. bank JP Morgan Chase, claiming over $1.7 billion for its role in a disputed 2011 oilfield deal, will proceed to trial, London's high court ruled on Thursday.The suit filed in the English…

ADM Energy Names CFO

Nov 05, 2020

ADM Energy, an AIM-listed oil and gas investing company with interest in the Aje oil field offshore Nigeria, has appointed Lionel Therond as its Chief Financial Officer.West Africa-focused ADM said this week that Therond had 35 years' experience in the oil & gas sector and investment banking…

Nigeria: First E&P Kicks Off Production from Anyala West Field

Nov 03, 2020

Nigerian oil and gas company First E&P has this week announced it has started oil production from the Anyala West field offshore Nigeria.The field is located in Oil Mining Leases (OMLs) 83 & 85, in the shallow waters offshore Bayelsa State, Nigeria…

Maersk Supply Service Nets Mooring Line Replacement Work in Nigeria

Oct 15, 2020

Maersk Supply Service has said it has won a contract in Nigeria for one of its offshore vessels.The Danish offshore vessel owner said the contract was for the support of a mooring line replacement project on a floating asset. It did not say who the client was…

Gulf of Guinea Kidnappings by Pirates Rise 40%

Oct 15, 2020

Kidnappings rose by 40% in the Gulf of Guinea in the first nine months of this year, and the region off West Africa's coast now accounts for 95% of global maritime kidnappings, the International Maritime Bureau (IMB) said on Wednesday.Eighty seafarers were taken in the Gulf of Guinea…

Eni CEO Should Be Acquitted in Nigeria Graft Case, Lawyer Says

Oct 15, 2020

Eni Chief Executive Claudio Descalzi should be acquitted of corruption in a legal case concerning the purchase of an oilfield in Nigeria since there is no evidence to support the charges, Descalzi's lawyer told a Milan court on Wednesday.Speaking in the court hearing…

Nigeria to Bar Unlicensed Vessels from Operating in Its Waters

Oct 04, 2020

Nigeria plans to bar vessels without a valid license to operate in Nigerian waters and has given shipping companies that trade in its coastal and inland waters three months to register, the maritime regulator said on Sunday.The Nigerian Maritime…

Nigeria's Oil Reform Could See NNPC Privatized, Deepwater Royalties Amended

Sep 28, 2020

Nigeria's long-awaited oil reform bill would privatize the Nigerian National Petroleum Company (NNPC), amend changes to deepwater royalties made late last year and scrap key regulatory agencies in favor of new bodies, a copy of the bill seen by Reuters showed…

Nigeria Asks for Eni, Shell to Pay $1,1B in Offshore Oil Bribery Case

Sep 09, 2020

Nigeria asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.092 billion as an immediate advance payment for damages it is claiming in one of the oil industry's biggest-ever corruption trials.At a hearing into alleged…

Nigeria Convicts Three Men Under New Anti-piracy Law

Aug 12, 2020

A Nigerian court made the first convictions under a new anti-piracy law, giving hope to the world's shipping fleets that legal reforms will help stem rising attacks in the Gulf of Guinea.The three men fined by the court in Port Harcourt, Nigeria's oil hub…

Shell Writes Down Nigerian Offshore Block at Heart of Italian Bribery Trial

Jul 30, 2020

Royal Dutch Shell said on Thursday its second-quarter writedowns include the OPL 245 license for an offshore oilfield in Nigeria which it holds alongside Eni and which is at the center of an ongoing corruption court case in Italy.Italian prosecutors…

New Mammoet Crane in Operation in Lagos Deep Offshore Logistic Base

Jul 27, 2020

Nigeria's Lagos Deep Offshore Logistic Base, LADOL, serving the country's offshore oil and gas industry, now has a new crane in operation - Mammoet Terminal Crane (MTC 15).LADOL and Mammoet had in January signed a partnership agreement aimed…

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