Month: November 2022

Detained oiltanker in Equatorial Guinea to return to Nigeria – officials. 13 Nov, 2022 Stephen U.C Petroleumnewsngr.com An oil supertanker accused by Nigerian authorities of attempting to illegally load crude before leaving its territorial waters is on its way back to the country, a Nigerian Navy spokesman told Reuters on Friday. At the request of Nigerian authorities, Equatorial Guinea detained the Heroic Idun, a vessel capable of carrying 2 million barrels of oil, on Aug. 17 for sailing without an identifying flag, fleeing from the Nigerian navy and sailing in Equatorial Guinean waters without prior authorization. Nigerian officials said Messrs....

November 12, (Petroleumnews) – Court Rejects Nigeria’s $1.1bn Compensation Request Against Eni, Shell An Appeal Court, sitting in Milan, Italy, on Friday, rejected Nigeria’s $1.092 billion compensation request against Italian energy group, Eni and Shell Plc, in civil proceedings relating to a $1.3 billion oilfield deal. In July, prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive, Claudio Descalzi, in one of the oil industry’s biggest alleged corruption cases. The case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011, to settle...

Nigerian Military Deactivates Over 70 Illegal Refineries in Two Weeks By Agency Report Mr Danmadami said the troops of ‘Operation Dakatar Da Barawo’ also discovered and destroyed 11 illegal refineries with 107 metal storage tanks and five wooden boats. The Defence Headquarters says troops of Operation Delta Safe and other subsidiary operations have discovered and deactivated more than 70 illegal refining sites in the Niger Delta region in the last two weeks. The Director, Defence Media Operations, Musa Danmadami, made this known at a bi-weekly news briefing on the operations of the armed forces, on Thursday in Abuja. Mr Danmadami said...

NNPC, Daewoo Group Sign MOU for Kaduna Refinery Rehabilitation www.petroleumnewsngr.com Anayo Korie The Nigerian National Petroleum Company (NNPC) Ltd and Daewoo Group of South Korea have signed a Memorandum of Understanding (MoU) for the rehabilitation of the Kaduna refinery. President Muhammadu Buhari, who witnessed the signing ceremony on Thursday in Seoul, South Korea, expressed delight over the development. The president, in a statement issued by his spokesman, Femi Adesina, was particularly excited as the signing came against the back of ongoing rehabilitation works at Warri refinery by the same Daewoo Group which will at the first instance, deliver fuel...

Addax Petroleum Exits Nigeria, Transfers Assets to NNPC Addax has ceased to be the Production Sharing Contract (PSC) contractor for the Oil Mining Leases (OML) 123/124 and OMLs 126/137. The Nigerian National Petroleum Company (NNPC) Limited on Tuesday announced it has signed a settlement and exit agreement with Sinopec’s Addax Petroleum Development (Nigeria) to exit its four major oil mining blocks in the country. With this agreement, according to NNPC Limited, Addax has ceased to be the Production Sharing Contract (PSC) contractor for the Oil Mining Leases (OML) 123/124 and OMLs 126/137. The NNPCL Chief Finance Officer, Umar Ajiya, signed the...