Nigeria News

 

TIMELINE: Nigerian Offshore Oil Block Deal Scandal

Mar 17, 2021

An Italian court acquitted Royal Dutch Shell and Italy's Eni on Wednesday of corruption in one of the oil industry's biggest court cases centered around the acquisition of a Nigerian oilfield in 2011.Italian prosecutors alleged that most of the $1…

Nigeria Disappointed as Shell, Eni Acquitted in Oil Block Bribery Case

Mar 17, 2021

The Nigerian government is disappointed with a Milan court's decision on Wednesday to acquit Royal Dutch Shell and Eni as well as several former and current managers of the groups in the oil industry's biggest corruption trial.“The Federal Republic…

Eni, Shell Acquitted in Nigerian Oil Block Graft Case

Mar 17, 2021

A Milan court on Wednesday acquitted energy companies Eni and Royal Dutch Shell along with a series of past and present managers including Eni Chief Executive Claudio Descalzi in the oil industry's biggest corruption scandal.The sentence, read out in court by judge Marco Tremolada…

Report: Nigeria Awards Tenders for 57 Marginal Oilfields

Mar 11, 2021

Nigeria's petroleum regulator has provisionally awarded tenders to develop 57 of its marginal oilfields, four sources familiar with the matter told Reuters, which could net the government $500 million in signature bonuses.Provisional award letters…

Nigeria Could Pass Long-delayed Oil Reform Bill in April or May

Jan 25, 2021

Nigeria's parliament will pass the long-delayed Petroleum Industry Bill by the second quarter of 2021, Senate President Ahmed Lawan said during a parliamentary session on Monday.The measure, which is 20 years in the making, underpins everything…

Nigeria's Senate President Promises Action on Long-delayed Oil Reform Law

Jan 13, 2021

Nigeria's senate president said that despite forces 'working desperately' to derail a long-delayed oil overhaul bill, lawmakers will push the bill through the national assembly.The measure, 20 years in the making, underpins everything from oil exploration to gas pipelines and fuel regulation…

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…

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…

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…

TGS in Geochemical Coring Project Offshore Nigeria

Oct 21, 2020

Norwegian offshore seismic data company TGS has announced the resumption of its geochemical coring project offshore Nigeria. The initiative is part of an anomaly targeting program focusing on the previously completed analysis of multibeam and backscatter data…

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…

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…

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 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…

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