Category: Oil & Gas
Malabu Scam: Eni, Shell aware of corrupt payments, Judge rules
An Italian judge, Giusy Barbara, found out on Monday that Eni and Royal Dutch Shell were fully aware that their 2011 purchase of Nigeria’s Oil Prospecting Lease (OPL 245) would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about 1.3 billion dollars from…
Subsidy: FG pays oil marketers, freezes interest on loan
Mr Henry Ikem-Obih, Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC) says the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil marketers. Ikem-Obi, who disclosed this in an Interview with the News Agency of Nigeria (NAN) on Monday in Abuja, said that government, through…
$12m LPG plant ready 2019 –GEIL
Damilola Shittu – Abuja Barring the unforeseen, the $12 million Liquefied Petroleum Gas plant (LPG) currently under construction in Ikuru in Rivers State, by Green Energy International Limited (GEIL), operator of Otakikpo Marginal field in OML 11, will become operational by the second quarter of 2019. The 12MMSCFD capacity plant which Approval To Construct (ATC)…
Nigeria saves $1bn through crude oil, refine products exchange
Nigeria has so far saved over $1 billion through the application of the Direct Sales, Direct Purchase (DSDP) agreement, the architect of the system, Engr. Salihu Garba Aliyu has said. The Nation has reported. The DSDP, a swap agreement first signed in May 2017 by which crude oil is exchanged for equivalent amount of refined…
Shell, Eni face $1.1bn Nigerian lawsuit over 2011 oil deal
The government of Nigeria is suing Royal Dutch Shell, Eni and othotherer companies for more than $1 billion over a 2011 oil deal it says was tainted by corruption. According to the World Oil, the suit, filed Wednesday in London, alleges that money the oil companies paid to acquire an oil exploration license in the…
ExxonMobil donates $50,000 to Family Compass to build healthy families
Darren Woods, ExxonMobil chairman and chief executive officer, presented $50,000 to Family Compass today to further the organization’s goals of ending child abuse and neglect. The grant marks the 13th annual ExxonMobil Chairman’s Gift given during the holidays to benefit and highlight a deserving nonprofit organization in North Texas. “Every child in our community should…
$44bn Aramco/ADNOC Indian mega refinery delayed
By Tsvetana Paraskova The commissioning of a mega refinery and petrochemical complex worth US$44 billion and involving Saudi Aramco and ADNOC has been pushed out by two years to 2025, a top executive at the Indian consortium part of the project told Reuters on Tuesday. Ratnagiri Refinery & Petrochemicals Ltd (RPPL), the joint venture company…
Total grooms 1,000 Rivers pupils in English Language
The Total E & P Nigeria Limited (TEPNG) recently sponsored quiz, spelling and comprehension competition for over 1,000 primary five and six pupils as well as students at the junior secondary school level, in Ahoada East Local Government Area of Rivers State. The essence of the competition was to awaken and encourage the pupils and…
DAPPMAN suspends depot closure, gives FG five-day ultimatum
Damilola Shittu – Abuja The Depot and Petroleum Products Marketers Association of Nigeria has suspended its earlier directive to shut down depots nationwide and has given the Federal Government a five-day grace to pay part of the outstanding debt which it owed the marketers. DAPPMAN had declared on Sunday that it would from midnight of…
Avoid panic buying, NNPC urges Nigerians
Damilola Shittu – Abuja Despite threats by petroleum depot owners to shutdown operations if their unpaid N800 billion subsidy claims were not cleared, the Nigerian National Petroleum Corporation (NNPC) says it has sufficient petroleum products in its facilities and urged consumers across the country not to engage in panic buying. The Corporation said it currently…