Category Archives: Oil & Gas

How Falana’s Letter to Kachikwu Exposed Nigeria’s Huge Losses in Deep Offshore PSCs

Indications have emerged that a letter written by a human rights activist and Senior Advocate of Nigeria (SAN), Mr. to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, when he was the Group Managing Director of Nigerian National Corporation (NNPC), exposed Nigeria’s huge losses in the Production Sharing Contracts (PSCs) signed with the international oil companies (IOCs) on the deep offshore oil fields. Full story


Posted by Amaka, 14 August 2017

Multinationals have moral obligation to comply with Nigerian content law – ExxonMobil MD

The Managing Director of ExxonMobil Nigeria, Paul McGrath, said on Thursday that compliance with the provisions of the Nigerian Content Act was not only legal, but also a ‘moral obligation’ for multi-national oil and gas operating and servicing companies based in Nigeria. Full story


Posted by Amaka, 24 July 2017

Nigeria’s Excess Crude Account ‘most poorly governed…” – Report

Nigeria’s Excess Crude Account, ECA, has been ranked the most poorly governed sovereign wealth fund among 33 resource-rich countries around the world, a new report by the Natural Resource Governance Institute has shown. Full story


Posted by Amaka, 30 June 2017

RenCap: Trans Forcados Pipeline Repair May Push Nigeria’s Oil Production to 2mbd

Analysts at Renaissance Capital (RenCap) have projected that the repair of the Trans Forcados Pipeline (TFP) will likely increase Nigeria’s production to about two million barrels per day (mbd). Full story


Posted by Hussaini Ali May 19, 2017

Reps pass NLNG Bill to end gas flaring, protect environment

The House of Representatives yesterday passed into law “A bill for an act to amend the Nigerian LNG (Fiscal incentive, Guarantees and Assurances) to make its statutory contribution to the NDDC fund and for other matters connected therewith.” Full story


Posted by Hussaini Ali May 10, 2017

Nigeria loses N780bn to illegal activities of oil thieves daily – Don

Dr Dahiru Usman, a lecturer in the Department of Public Law, Bayero University, Kano, disclosed this in a paper he presented at the unveiling of the new NIPOST anti-corruption stamps in Kano on Thursday. Full story


Posted by Hussaini Ali May 5, 2017

Dutch Prosecutors Record Shell CEO and Ensnare Shell in Nigeria Bribery Scandal

A CEO never expects to be wiretapped. Let’s face it – a wiretap in the C-Suite is rare. Justice Department prosecutors have always looked for an opportunity. CEOs have loose lips and can suffer significant damage from recorded conversations. Full story


Posted by Hussaini Ali April 20, 2017