Shell
16 Oct
The Managing Director (MD) and Country Chair of Shell Petroleum Development Company (SPDC), Osagie Okunbor, has said that the firm will remain in Nigeria for the long term. Okunbor confirmed Shell's continued presence in Nigeria, despite the company's planned divestment of its onshore assets at the 30th Nigerian Economic Summit (#NES30) in Abuja on Tuesday.…
13 Sep 2024
Nigerian communities are seeking N505 billion ($310 million) in damages from Shell, alleging that the company breached an existing court order by moving forward with a deal to sell its onshore assets in the Niger Delta, according to court documents revealed on Friday. Shell announced its decision to exit Nigeria's onshore oil and gas sector…
11 Sep 2024
Shell has accused US gas company Venture Global of wrongfully earning $3.5bn after delivering liquefied natural gas (LNG) shipments to higher-priced spot markets. The Financial Times reports that Shell's accusation comes following a commodity price spike after Russia invaded Ukraine in February 2002. "Shell says Venture Global wrongfully earned $3.5 billion by breaching an LNG…
1 Aug 2024
British energy group Shell on Thursday said net profit dropped eight percent in the first half due to weaker gas prices and write-offs. Profit after tax declined to $10.9 billion compared with the first six months of last year, Shell said in an earnings statement. The same issues affected rival BP according to its interim…
4 Jun 2024
The seven protesting communities occupying Shell Petroleum Development Company (SPDC) Estuary Area (EA) in Bayelsa say their demand for a separate Host Community Development Trust is not negotiable. The communities had resolved to maintain a peaceful occupation of the EA field around the Sea Eagle Floating Production Storage and Offloading (FPSO) vessel while awaiting favourable…
30 May 2024
ExxonMobil has begun moves to scale down its operation in Nigeria, relocating to a smaller office space in Lagos. According to Reuters, the oil giant will not be renewing a 33-year-old lease on its expansive offices in Lagos's upscale Lekki district, which expires on Friday. Quoting three sources familiar with the matter, Reuters said the…
14 May 2024
Multiple explosions were reported on Tuesday near a gas processing plant operated by Shell Petroleum Development Company of Nigeria (SPDC) at Gbarain, Yenagoa Local Government Area of Bayelsa. The News Agency of Nigeria (NAN) reports that the gas plant feeds the Nigerian Liquified Natural Gas (NLNG) export terminal on Bonny Island, Rivers. Speaking to NAN…
14 May 2024
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) produced more oil at Bonga last year than the previous one, a review of operations has shown. Nigeria’s first deep-water development produced some 138,000 barrels of oil per day (boepd) in 2023 compared to around 101,000 in 2022. Among other factors, the improvement was driven by drilling…
2 May 2024
British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a "strong" performance, and unveiled another bumper stock buyback.
Latest
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South Korean auto giant Hyundai on Monday announced a multi-billion-dollar investment in the United States, including a new $5.8 billion steel plant. The plant, which will be based in the US state of Louisiana, "will create 1,300 American jobs," Hyundai executive chairman Euisun Chung told reporters at a White House event alongside President Donald Trump.…
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A French-Algerian man went on trial in France on Monday for burning to death his wife in 2021, a case that shocked the public and sparked heavy criticism of police for failing to take adequate measures to protect her. In 2021 Mounir Boutaa, now 48, stalked his Algerian-born wife Chahinez Daoud following their separation, and…
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A meeting between Russian and US officials on a partial ceasefire in Ukraine ended after 12 hours of negotiations in Saudi Arabia on Monday, Russian state media reported, with a joint statement expected the following day. With Ukrainian negotiators waiting nearby, a day after they sat down with the US team, the Americans and Russians…
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Tunisia has launched an investigation into alleged money laundering and tax fraud involving ride-hailing applications, the interior ministry said on Monday. The authorities also said they were suspending the apps. "The financial division of the National Guard has uncovered suspicions of money laundering and tax evasion among operators of private taxi ride-hailing apps," the ministry…
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The Bulgarian Ambassador to Nigeria, Yanko Yordanov, has been honored by the Ipinsa community in Ifedore Local Council Area of Ondo State for his support for widows in the community. While conferring a chieftaincy title on the ambassador, the Akapinsa of Ipinsa, Oba Omoniyi Olufunmilayo, hailed Yordanov’s growing bond with Ipinsa. The monarch noted that…
40 mins ago
The Nigeria Immigration Service (NIS) held a farewell ceremony to honor the late David Shikfu Parradang, the former Comptroller General of Immigration, celebrating his legacy of dedication and service. The event, which featured a 21-gun salute, was attended by colleagues, dignitaries, and well-wishers who paid their respects to a leader known for his discipline, wisdom,…
46 mins ago
The Osun State Police Command has said it arrested three suspects for allegedly breaching the ongoing dusk-to-dawn curfew imposed on some warring communities in Osun State by Governor Ademola Adeleke. This was disclosed in a statement made available on Monday by the Police Public Relations Officer in the state command, Adeola Adeoye. Recall that Governor…
49 mins ago
A federal judge on Monday sharply criticized the Trump administration's summary deportation of alleged Venezuelan gang members, saying "Nazis got better treatment" from the United States during World War II. President Donald Trump sent two planeloads of Venezuelan migrants to a prison in El Salvador on March 15 after invoking an obscure wartime law known…
57 mins ago
Governor Seyi Makinde of Oyo State, on Monday, charged the Council for the Regulation of Engineering in Nigeria (COREN) to expand its scope on other areas of engineering practices, eliminate quackery in the industry, and collaborate with the Standards Organisation of Nigeria (SON) for certification of building materials to reduce infrastructure collapse. Makinde made the…
1 hour ago
The police command in Adamawa is seeking for information that will lead to the arrest of persons who killed a Point of Sales (POS) operator, Abbas Yuguda, 35, in Mayo-Belwa Local Government The command Spokesman, SP Suleiman Nguroje, disclosed this, in a statement on Monday in Yola. Nguroje said the incident occurred on March, 22,…