A coalition of civil society organisations in Nigeria is seeking the revocation of the Shell Petroleum Development Company's (SPDC) operating license for OML 25 in Akuku-Toru Local Government Area of Rivers State.
OPEC’s production compliance falters, prices inch towards $65
OPEC's crude production edged up by 50,000 b/d in August to 29.93 million b/d, the latest S&P Global Platts survey found, with the bloc still struggling to move oil prices higher despite broad overall compliance with output cuts in place since January.
Sanctity of contracts: Wading through Nigeria’s murky oil sector
The oil and gas sector in Nigeria has been engrossed in legal battles, especially with landmark cases that involved the government through its agencies. From the Malabu oil deal scandal to the $9.6 billion P&ID judgment delivered by a UK court, the issues of contract drafting, negotiations, and adherence to the provisions of agreed terms raise concerns. FEMI ADEKOYA and KINGSLEY JEREMIAH write on why the nation keeps being involved in several litigations that should never exist.
‘ Why Nigeria is adopting American standards for oil, gas sector’
This Standards Organisation of Nigeria (SON) has adopted10 American Petroleum Institute (API) Standards for the nation, in a bid to keep up with best international practices in the oil and gas sector.
Shell loses N202m daily to vandals, oil thieves – GM
Shell Petroleum Development Company of Nigeria (SPDC) Joint Venture says it loses about N202 million daily in revenue to activities of criminals in the Niger Delta. The company attributed the loss to daily attacks on its pipelines by suspected crude oil thieves and vandals. SPDC’s General Manager, External Relations, Igo Weli, disclosed this at a…
Leveraging LPG penetration to reduce carbon emissions
At a time when many countries are exploring efforts to decarbonise their environment, the National Conservative Agency notes that Nigeria emits about 200 million metric tons of greenhouse gases from different traditional energy sources such as kerosene...
Government moves to address challenges in energy value-chains
The Federal Ministry of Petroleum Resources has concluded plans to host the yearly Nigeria Petroleum Summit (NIPS 2020) as part of measures to address value-chain challenges in the country’s energy space.
Group opposes oil exploration resumption before environmental clean-up
The Center for Accountability, Transparency, and Human Development (CATHUD), a United States-based Justice, Human Rights and oil industry watch group has kicked against any oil resumption scheme until the commencement of the environmental clean-up exercise promised by the Federal Government.
Dissecting Nigeria’s investment interest with Saudi Arabia, Qatar
There are indications that the Federal Government will in the coming weeks take a strategic step to pursue the already established investment discussions with Saudi Arabia and Qatar.
Operators seek sustainable solutions to kick-off 1mbpd oil terminal construction
With the development of marginal fields becoming very slow in the country as a result of some fields being unable to engage in meaningful exploration and production activities 15 years after, operators have expressed optimism that new investments would strengthen the nation’s production output.