Nigeria is gearing up to host a specialised oil and gas roadshow aimed at enticing back international energy companies that previously withdrew from its onshore sector, a senior government official announced on Monday. Following the departure of major players like Shell and Exxon, who shifted focus to deep offshore exploration, Nigeria has faced challenges in Read More…
Tag: Shell
Seplat Energy nears completion of ExxonMobil asset acquisition amidst legal hurdles
In a landmark move that could reshape the landscape of Nigeria’s oil industry, Seplat Energy is on the verge of concluding its acquisition of ExxonMobil’s Nigerian shallow water oil assets, valued at a colossal $1.28 billion. This development comes after the Nigerian National Petroleum Corporation (NNPC) withdrew its legal challenge against the sale, which had Read More…
Dangote Fertiliser Gets Major Boost as Shell Commits to $2.5 Billion Gas Supply Facility
Africa’s richest man, Aliko Dangote, received a significant boost for his fertiliser plant today as Shell and its partners announced a final investment decision to build a dedicated gas supply facility. The $2.5 billion Dangote Fertiliser and Petrochemical Plant, the largest urea complex in Africa, will receive 100 million standard cubic feet of gas per Read More…
Shell’s exit sparks hope for Nigerian oil sector amid risks, analysts say
Shell’s recent departure from Nigeria’s onshore oil sector is seen as a pivotal moment, raising optimism among local firms to rejuvenate production in Africa’s largest oil exporter. Industry insiders and analysts emphasise the challenges faced by oil majors in the region but foresee opportunities for indigenous companies to reverse the output decline in the Niger Read More…
Nigeria withdraws $1.1 billion civil claims against Eni over oilfield deal
On Thursday, Bloomberg News reported Nigeria’s decision to retract civil claims amounting to $1.1 billion against Italian energy giant Eni regarding alleged corruption linked to an oilfield deal. The country’s justice ministry intends to unconditionally waive these claims before Italy’s highest court by November 17, as revealed in a letter regarding the OPL 245 field, Read More…
Shell resumes crude oil export operations at Forcados Oil Terminal
After a few days of pipeline repair work, Shell Petroleum Development Company (SPDC) has resumed export operations at the Forcados Oil Export Terminal. This was confirmed to the News Agency of Nigeria (NAN) by the SPDC’s Media Relations Manager, Mrs. Abimbola Essien-Nelson, on Friday in Lagos. By the end of October, when the continuing crucial Read More…
Shell probes Nigerian oil theft report
A spokeswoman for Shell in Nigeria said on Wednesday that the company is looking into claims that an illegal oil tap ran for nine years on a pipeline it manages. The Trans Escravos pipeline was the starting site for the theft, according to a NNPC spokesman, who also said that the suspected exit point for Read More…
NNPC to fork out ₦747bn to Shell, Exxon Mobil – US appeals court
A U.S. appeals court on Friday granted Exxon Mobil Corp and Royal Dutch Shell Plc affiliates leave to enforce a part of a ₦747 billion ($1.8 billion) arbitration award against the Nigerian National Petroleum Corporation (NNPC), in a dispute concerning oil extraction near the African country’s coastline. In a 3-0 decision, the 2nd U.S. Circuit Read More…
Lagos receives 16 vehicles from Shell for security
The Lagos State Government on Wednesday received 16 security operations vehicles from Shell Nigeria Exploration and Production Company Ltd (SNEPCo) toward enhancing security in the state. Speaking during the handover ceremony at the Lagos House, Marina, Lagos State Governor, Mr Babajide Sanwo-Olu said the donation of the security vehicles was a promise kept by the Read More…