Tag "Eni"

    Amnesty ‘uncovers’ serious negligence by Shell, Eni in Niger Delta oil spills

Amnesty ‘uncovers’ serious negligence by Shell, Eni in Niger Delta oil spills

Amnesty International (AI) has accused Shell Petroleum Development Company (SPDC) and Italian oil giant Eni of “serious negligence” in cases of oil spills in the Niger Delta region.In its latest research, AI said the "irresponsible approach" of the two companies to oil spills in the Niger Delta is worsening the environmental crisis and the plight of those affected.Mark Dummett, business and [...]

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    Italian court postpones trial of Shell, Eni after ‘show of shame’ by Nigeria

Italian court postpones trial of Shell, Eni after ‘show of shame’ by Nigeria

An Italian court has postponed to May 14 the trial of Royal Dutch Shell and Eni executives over alleged corruption in Nigeria.The trial was originally expected to start in a Milan court on Monday but the judge said due to a high number of cases, it would be transferred to another chamber to avoid further delays.The trial will now begin on May 14.The case involves [...]

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    Italy arrests lawyer, professors for ‘tampering with probe’ of Malabu deal

Italy arrests lawyer, professors for ‘tampering with probe’ of Malabu deal

Italian investigators have arrested 15 people, including Piero Amara, a popular lawyer in the country, and Giancarlo Longo, a magistrate, in connection with the Malabu scandal.Among those arrested were professionals, consultants, professors who were accused of trying to cover up issues relating to the bribes allegedly paid in Nigeria.“They had put up a fake investigation to pollute the Milanese on [...]

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    Buhari: I’ll use extra oil income to boost infrastructure

Buhari: I’ll use extra oil income to boost infrastructure

President Muhammadu Buhari says the extra income derived from the oil sector would be spent on projects like roads, rail, and power.Buhari said this when Antonio Vella, chief upstream officer of Eni, led a delegation to the presidential villa in Abuja on Friday.The provisions of the 2018 budget had been predicated on $45 per barrel by the executive, and the [...]

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    We are disappointed, says Shell on ruling of Italian court

We are disappointed, says Shell on ruling of Italian court

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    Italian court orders trial of Shell, Eni over Malabu deal

Italian court orders trial of Shell, Eni over Malabu deal

An Italian court has approved the prosecution of Royal Dutch Shell and Eni in the controversial sale of OPL 245 oil block.OPL 245 is located in an extremely rich oilfield in the Niger Delta, estimated to worth half a trillion dollars.The sale of the block has been replete with allegations of graft amid lawsuits.A judge in Milan ordered that Claudio Descalzi, an Eni [...]

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    FG: We’ve recovered $85m from Malabu deal

FG: We’ve recovered $85m from Malabu deal

The federal government has announced the recovery of $85 million from the United Kingdom as part of funds allegedly looted from the Malabu oil deal.Abubakar Malami, attorney-general of the federation, disclosed this on Thursday while speaking at the consultative meeting on assets recovery.He said despite the non-compliant nature of some countries, the government would not relent in its bid to recover [...]

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    Bayelsa community sues ENI, demands compensation for oil spill

Bayelsa community sues ENI, demands compensation for oil spill

The Ikebiri community in Bayelsa state has sued ENI, Italian oil gaint,  at a Milan court, seeking the cleanup of, and compensation for damages from an oil spill which has affected the community in the Niger Delta.In a statement issued on Thursday by Friends of the Earth Europe and Environmental Rights Action/Friends of the Earth Nigeria, the community called for adequate [...]

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    Again, court adjourns ruling on forfeiture of ‘Malabu oil block’

Again, court adjourns ruling on forfeiture of ‘Malabu oil block’

‎John Tsoho, justice of the federal high court, Abuja, has adjourned ruling on an application by Shell Nigeria Limited and Eni, seeking the vacation of an order of interim forfeiture of OPL 245.The judge took the decision to adjourn the case to Friday after Malabu oil and gas filed an application to be joined in the matter.On February 28, the [...]

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    EFCC files fresh charges against Shell, ENI over $1.1bn Malabu scandal

EFCC files fresh charges against Shell, ENI over $1.1bn Malabu scandal

The Economic and Financial Crimes Commission (EFCC) has filed charges of “official corruption” against Shell Nigeria Exploration Production Company Limited and Nigeria Agip Exploration Limited, ENI SPA, at a Federal Capital Territory (FCT) high court, Abuja, over the $1.1bn Malabu oil scandal.Also, joined in the charges are Mohammed Adoke, former attorney-general of the federation; Dan Etete, former minister of petroleum; [...]

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    Malabu oil deal: Eni denies involvement in ‘corrupt conduct’, clears CEO

Malabu oil deal: Eni denies involvement in ‘corrupt conduct’, clears CEO

ENI, also known as the Nigeria Agip Exploration Limited, has said the transactions leading up to the auctioning of $1,616,690,656.78 Malabu oil block were not fraudulent.The board of directors of the oil firm made this known in a statement on Wednesday.ENI said that an independent US law firm had conducted forensic investigations into the block and returned a "not guilty [...]

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    Nigeria gets $1bn off its JV debts, to pay IOCs $5bn worth of oil in 5 years

Nigeria gets $1bn off its JV debts, to pay IOCs $5bn worth of oil in 5 years

International oil companies (IOCs) operating in Nigeria have agreed to cut $1 billion off Nigeria's joint venture debts accrued over the past six years.The companies, which are Chevron, Total, Eni, ExxonMobil and Shell reached an outline settlement to resolve the debt, which has been a contentious issue in the country oil sector.According to Financial Times, the debt, which was estimated at [...]

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    Pipeline bombings: Agip, Aiteo lose 140,000 bpd production

Pipeline bombings: Agip, Aiteo lose 140,000 bpd production

The rebirth of militancy in the Niger Delta has reduced Nigeria's production capacity by 140,000 barrels per day (bpd).While Nigerian Agip Oil Company (NAOC) has shut its Bayelsa facility which produces 65,000 bpd, Aiteo, which operates the Nembe Creek Trunk Line has also stopped its 75,000 bpd facility in Bayelsa.Earlier attacks in NAOC oilfield on May 18 and 24 resulted [...]

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    Pipeline bombings: Agip halts production in Bayelsa

Pipeline bombings: Agip halts production in Bayelsa

Like Shell Petroleum and ExxonMobil, Eni, parent company of Nigerian Agip Oil Company (NAOC), on Tuesday said it had declared force majeure on oil exports from the Brass Oil Export Terminal off Bayelsa shoreline.Force majeure is a legal concept that absolves companies from liabilities of contractual obligations due to factors outside its control.Earlier, Shell and ExxonMobil temporarily halted production, following [...]

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Exchange Rates

May 17, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS360495436
KANO360494435
PH361494430
ABUJA360495430
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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