Shell is planning to sell two of its oil mining licences in Nigeria.Bloomberg reports that the licences might be sold for $2 billion.Apart from oil mining licences 11 and 17, Shell will also be selling a natural gas-fired power plant that would be managed by Transnational Corporation of Nigeria Plc (Transcorp).Selling both assets would mean that Shell would focus on [...]
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A coalition of non-governmental organisations (NGOs) has called on the federal government to ensure full transparency in the clean-up of affected sites in Ogoniland.The coalition made the call on the heels of the federal government's statement that the exercise will soon start.Ibrahim Jibril, minister of environment, said the cleanup — inaugurated in 2016 — will begin in August and that 400 [...]
President Muhammadu Buhari says Nigeria is safe for business, urging foreign investors to come to the country and invest.Fielding questions at the business forum of the Commonwealth Head of Government Meeting (CHOGM 2018) in Westminster, the president said Shell Group is preparing to invest $15 billion in Nigeria."On security, certainly, both in the northeast and in the southsouth, there has been [...]
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 [...]
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 [...]
Amnesty International (AI) has accused Shell Development Company of Nigeria of complicity in the “horrific crimes” committed by the Nigerian military in Ogoniland.AI said its records, internal company documents, and witness statements show Shell played a role in the “murder, rape and torture” of some citizens in Ogoni.A statement issued by the organisation on Tuesday said the findings are contained [...]
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 [...]
Amnesty International says oil giant Shell has refused to hand over 100,000 documents on the arrest, detention, and execution of nine men by the military regime of late Sani Abacha.Ken Saro-Wiwa, outspoken author and playwright, Barinem Kiobel, John Kpuine and six others were hanged in 1995 by the Abacha regime.They are collectively known as Ogoni Nine.On June 28, four widows led [...]
On Thursday, a friend called me from Lokoja, the Kogi state capital, where she is serving fatherland. It was our first call in about a month. I was looking forward to catch up with her on a number of things happening in her life and some academic plans she told me about the last time we spoke.To my surprise, this [...]
Ben Van Beurden, the chief executive officer (CEO) of Royal Dutch Shell, says his next car will be an electric car, admitting the threat on the future of oil.While Jessica Uhl, chief financial officer already drives a BMW i3 electric car, one of the company's spokesperson says the CEO will switch from a diesel car to a plug-in Mercedes-Benz S500e [...]
Amnesty International says Shell, oil giant, is complicit in the unlawful arrest, detention and execution of Ken Saro-Wiwa, human rights activist, and eight other men by the Abacha military government in November 1995.The organisation said the allegation against Shell followed the launch of “an explosive new case against the company in the Netherlands over four of the executions”.It said the [...]
Nigeria's crude oil production has hit one-year high, according to a report released by the Organisation of Petroleum Exporting Countries (OPEC).The report attributed the increased production output to the resumption of loadings at Forcados terminal in Delta state.After militants attacked the pipeline terminal in February 2016, Shell declared force majeure, a legal clause that allows it to stop shipments at [...]
Shell Nigeria says it has resumed production at 225,000 barrels per day at Bonga field, a development that will boost Nigeria's oil production and output.Shell Nigeria Exploration and Production Company Limited (SNEPCo) had shut down the Bonga deepwater oil field for turnaround maintenance on March 4.Earlier in April, the Organisation of Petroleum Exporting Countries (OPEC) had said that Nigeria's oil [...]
The federal government says that it would begin payment of a $5.1 billion debt owed to five international oil companies (IOCs) by the end of April.The debt, which was incurred from 2010 to 2015 due to Nigeria’s inability to make its share of capital contributions to the joint ventures, will be settled through crude sales over five years and will [...]
John Tsoho, justice of the federal high court, Abuja, has reversed his order revoking OPL 245, an oil block, from Shell Nigeria Limited and Eni.Shell and Eni had filed an application seeking the vacation of the order of interim forfeiture of OPL 245, which is considered as Nigeria's largest oil block.On Monday, the judge had adjourned the case to Friday [...]
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