Oil/Gas Reports

Research done using the new open National Oil Company Database revealed that many state enterprises fail to disclose information critical to the oversight of public revenues.

“While FAAC disbursement to states is a constitutional arrangement, it cannot be stopped by sheer discretionary measures. However, there must be a political will to ensure that states’ IGR Surpass federal allocations.”

NNPC wants the Federal Executive Council to approve termination of the Lot 2 contract.

Shell and Eni paid the money through the Nigerian government to controversial businessmen.

Other countries make billions of dollars from similar deep offshore wells.

The firms would lift over 700,000 barrels per day of crude oil.

The Communities and their leadership see no justification in terminating SALVIC.

The Court says the former attorney general merely performed his constitutional duties.

The three states are laying claims to being oil producing states.

Ruptured pipes had discharged 180 barrels of crude into the environment.

Three bank accounts in Lugano, Basel and Geneva were blocked, according to media reports.

Russian Energy Minister Alexander Novak made the announcement on Tuesday.

Brent crude futures were fetching $69.67 per barrel, up 33 cents, or 0.5 per cent.

Shell admits that a crime might have been committed in the new OML 42 deal.

“The idea of a single regulator for the entire sector runs contrary to industry standards.”

Mr. Gates, a billionaire businessman, says Nigerian farmers are failing because of poor funding.

The marketers say the debt is killing their operations.

Brent sweet crude futures were at 67.66 dollars per barrel.

The refinery produces 24,000 barrels a day of petrol.

OPEC and other producers have cut output to reduce a global crude glut.

“Shell and Eni claim they are doing everything they can to prevent oil spills but Decoders’ research suggests otherwise.”

The judge says prosecution failed to present ‘substantial evidence’ to prove its case.