Oil/Gas Reports

National oil companies with $3.1 trillion in assets dangerously under-scrutinised – NRGI

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.

From left: President Muhammdu Buhari; Gov Rochas Okorocha of Imo; Gov Abdullaziz Yari of Zamfara State; Gov Kashhim Shettima of Borno; Gov Jibrilla Bindo of Adamawa during a meeting of the President with APC Governors at the Presidential Villa in Abuja on Tuesday (3/4/18)

ANALYSIS: N25 trillion FAAC distribution and lingering financial challenges of state governments

“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 TOWERS

AKK Gas Pipeline Project: Consortium battles NNPC over attempt to hijack contract

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

Shell

Malabu Scandal: Shell, Eni await fate as Italian court rules on $1.1 billion ‘bribe’

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

Oil rig used to illustrate the story.

SPECIAL REPORT: How Nigeria loses trillions of Naira to deep offshore oil explorations

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

NNPC TOWERS

50 firms win contracts to lift Nigeria’s crude in 2018/2019 (FULL LIST)

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

OML30 and communities

OML30 communities protest removal of Salvic Petroleum Resources

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

Former Attorney-General of the Federation, Bello Adoke.

Malabu Scandal: Court says Adoke ‘not liable’ for obeying Jonathan’s directives

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

Chambers of the Nigerian Senate used to illustrate the story.

Senators trade words over oil producing status of Anambra, Kogi states

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

Oil spill caused by damaged riser

Oil spill: Agip, host community bicker over compensation, clean-up

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

Former Nigerian oil Minister Dan Etete, involved in the Malabu Scandal. [Photo credit: THE REPUBLICAN NEWS]

Swiss authorities block bank accounts linked to Malabu Oil scam

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

OPEC

Russia plans to fully comply with OPEC-non-OPEC oil deal in April – Energy Minister

Russian Energy Minister Alexander Novak made the announcement on Tuesday.

Oil rig used to illustrate the story.

Oil price rises

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

Shell reports falling profit amid oil price slump

Former Shell Vice-President named in fresh Nigerian oil scandal

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

NNPC TOWERS

PIGB: Marketers advocate two oil industry regulators

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

Bill Gates to Nigerian govt: Shift your attention from oil

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

Alleged N650 billion debt: Oil marketers allegedly lay off staff

The marketers say the debt is killing their operations.

Oil barrels used to illustrate story [Photo Credit: Independent.co.uk]

Oil prices rise on Middle East tensions, healthy demand

Brent sweet crude futures were at 67.66 dollars per barrel.

Port Harcourt Refinery

Seven firms bid to buy Zambia’s oil refinery

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

NNPC Headquarters, Abuja

Oil prices jump, Brent hits approximately $70

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

A waterbed filled with oil due to spillage

Shell, Eni negligent over Nigerian oil spills – Amnesty International

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

Lagos High court

After five year-trial, Court clears oil marketer

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

Oil barrels used to illustrate story [Photo Credit: Independent.co.uk]

Oil price rises towards $70 on reduced U.S. drilling activity, booming job market

Brent sweet crude was at 65.70 dollars per barrel, from their previous close.

NNPC Headquarters, Abuja

Nigeria realised $476.3 million from crude oil, gas exports in December 2017 –NNPC

About 3,342 MW of gas was equivalent delivered to power plants.

Crude oil extraction [Photo credit: Bloomberg]

We reduced cost of producing barrel of oil to $20 – NNPC

The official speaks on investment in biofuels by the corporation.