The Shell Petroleum Development Company of Nigeria Limited has said it contributed about $44bn to the Federal Government’s coffers between 2009 and 2013. According to the company, the Federal Government also received about 95 per cent of the revenue after costs from the SPDC Joint Venture, including income from its majority shareholding through the Nigerian […]
Oil giant, Royal Dutch Shell is ready to pay up to $51 million in compensation for two oil spills in Bodo, Nigeria in 2008, but the lawyer representing the claimants have rejected Shell’s offer. Around 15,000 residents of the Bodo community in the Niger Delta represented by law firm, Leigh Day, appealed in 2011 to […]
The federal government has signed a memorandum of understanding (MoU) with investors from the United States (US) that will fast-track the realisation of gas-fired power plants in the country. The MoU was signed on behalf of government by the minister of state for power, Muhammad Wakil, with a five-man American investors, led by Mr Roy […]
The National Conference Committee on Energy has said that the country is losing about 350,000 barrels of oil per day, estimated at about $35m, to crude oil theft and called on the Federal Government to wake up from its slumber and tackle the menace frontally. The Chairman of the committee, who is also a former […]
The Nigerian National Petroleum Corporation (NNPC) on Thursday said India had replaced the United States as the largest importer of crude oil from Nigeria. It said that India was closely followed by China and Malaysia as the biggest buyers of the nation’s oil. Continue Reading
The Nigerian Navy Ship, NNS Delta, has said no fewer than 500 illegal crude oil refineries situated along the Niger Delta creeks have been destroyed in the last four months. It also disclosed that the security agency is winning the war against oil theft in the area, but that its success story was being hampered […]
The Economic and Financial Crimes Commission has arraigned eight officials of an oil company, Hepa Global Energy Limited, for illegal importation of fuel. The eight people are Ademola Ogungbayi, Olabode Olaniran, Suraj Gasali, Moses Emmanuel, Wilson Bonsi, Jacob Pandoun, Uche Okparaodi and Happy Onyeogo. They were charged alongside their vessel, MT Good Success and their […]
A survey by EY (Ernst & Young) has shown that 88 per cent of the respondents in Nigeria consider bribery and corruption as being widespread in the country. A comparison of the current results for Nigeria with that of EY’s 2012 edition, wherein 72 per cent perceived bribery and corruption to be widespread in Nigeria, […]
Mr Haruna Momoh, the Managing Director of Pipeline and Products Marketing Company (PPMC), said the NNPC depot in Enugu State would commence operations and discharge of petroleum products in July. Momoh made the disclosure on Tuesday in Enugu at a public enlightenment campaign on pipeline vandalism in the state. The managing director, represented by the […]
As part of efforts to boost the productivity of the country’s oil refinery at Port Harcourt, GE’s Distributed Power business is supplying GEL Utility Limited with three 25-megawatt (MW), trailer-mounted, TM2500+ aero-derivative gas turbines to generate uninterrupted power at the refinery. The installation by GEL Utility Limited of GE’s mobile gas turbines at the Port […]