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Posts under ‘Nigeria’

OPEC Seen Backing Saudi Arabia’s Plan to Keep Supplies Elevated

by Grant Smith and Maher Chmaytelli: Bloomberg.com: 27 May 2015 When Saudi Arabia argues next week that OPEC should keep up production to fight the rise in U.S. shale oil, prices will be on its side. Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the […]

Fuel crisis worsens Nigeria’s power problems

WE UNDERSTAND FROM INSIDER SOURCES THAT THE INTERNAL NIGERIAN FUEL CRISIS DESCRIBED IN THIS PUNCH ARTICLE IS SEVERELY AFFECTING SHELL OPERATIONS, WITH POWER CUTS AND A LACK OF FUEL FOR VEHICLES.   MAY 25, 2015 : AKINPELU DADA, STANLEY OPARA, FEMI ASU AND GODWIN ISENYO  The current nationwide scarcity of refined petroleum products has reached […]

Ann Pickard, Shell VP for Arctic drilling, is not a safe pair of hands

“Having got its corporate fingers burnt once already, it is simply astonishing that the fate of Shell’s resurrected Arctic drilling campaign is being entrusted by Shell and President Obama to such an incompetent, unscrupulous individual, as Ann Pickard.” By John Donovan Ann Pickard replaced David Lawrence as Shell VP for the Arctic after Shell’s 2012 disastrous Arctic drilling fiasco, aptly described […]

Shell Shielded from Defamation Claim for Statements in Internal Investigation Reports

Friday, May 22, 2015 Last week, the Texas Supreme Court joined the majority of jurisdictions in holding that a company enjoys an absolute privilege when providing the Department of Justice (DOJ) with an internal investigation report containing statements later alleged by an employee to be defamatory. The decision in Shell Oil Co. v. Writt, __S.W.3d__ (Tex. […]

Unanswered questions on Nigeria’s missing oil revenue billions

Unanswered questions on Nigeria’s missing oil revenue billions By Lamido Sanusi (Former Gov. Central Bank of Nigeria) Just over a year ago President Goodluck Jonathan suspended me from my position as governor of the Central Bank of Nigeria after I questioned an estimated $20bn shortfall in oil revenues due to the treasury from the state […]

Shell braves a return to its Arctic ordeals: But, with oil at such a low price, why now?

By LAURA CHESTERS FOR THE DAILY MAIL: 13 May 2015 New Year’s Eve 2012 is a date Lieutenant Commander Jim Cooley will never forget. As part of the rescue team from the US Coast Guard he flew out in treacherous, stormy conditions to rescue 18 men aboard Royal Dutch Shell’s stranded Kulluk oil rig. Earlier that […]

SHELL TO FUND NIGER DELTA CLEANUP; COSTS COULD HIT €500 MILLION

Article by Janene Van Jaarsveldt published 4 May 2015 by nltimes.nl  Shell will clean up the oil spill in a heavily polluted area in the Niger Delta. This area is located in Bodo, Nigeria, which has about 40 thousand inhabitants. The company will also carry the costs of the cleanup.  According to the Volkskrant, the cost […]

Shell agrees to start cleaning polluted area

Under a compensation deal hammered out in London in January, Shell’s Nigerian arm agreed to pay $55m to people in Bodo following a three-year legal battle over the 2008 spills that devastated their environment. 3 May 2015 Lagos – Shell has agreed with Nigerian fishing community of Bodo in the Niger Delta to start the […]

Shell agrees to start clean up of 2008 Niger Delta oil spill

Shell agrees to start clean up of 2008 Niger Delta oil spill 2nd May 2015 Shell has agreed with Nigerian fishing community of Bodo in the Niger Delta to start the clean up of two devastating oil spills in 2008, activists and locals said Saturday. “Shell officials met with representatives of Bodo community in Port […]

Shell, Total align trading and refining units to drive profit growth

By Dmitry Zhdannikov and Ron Bousso: 1 May 2015 Shell, Total align trading and refining units to drive profit growth * Shell, Total restructure to combat falling oil prices * Refinery profits also under pressure from competition * Oil firms fighting off challenge from trading houses LONDON, May 1 (Reuters) – Top oil firms Royal […]

Nigeria: Shell Rules Out Divestment in Nigeria, Others This Year

Article by Daniel Adugbo published 1 May 2015 by AllAfrica.com Shell Rules Out Divestment in Nigeria, Others This Year Royal Dutch Shell said yesterday it had reduced its expected 2015 capital expenditure (capex) to $33 billion from $35 billion as the company continues to adjust its business to the lower oil-price. Releasing its first-quarter results […]

Shell cuts 2015 capex, sees downstream downturn

Shell cuts 2015 capex, sees downstream downturn London (Platts)–30 Apr 2015 * Capex reduced by more than $2 billion * Decision on Majnoon development pushed back to 2017 * CFO says refining margins already worsening Shell said Thursday it had reduced its expected 2015 capital expenditure to $33 billion from previous guidance of a little […]

Royal Dutch Shell profits slump as oil price slide puts energy giant on back foot ahead of mega-merger with BG

Earnings dropped steeply from $7.33billion last year to $3.25billion Company hopes oil prices will rise to $90 a barrel by 2018  By MARK SHAPLAND FOR THIS IS MONEY: 30 April 2015 Oil giant Royal Dutch Shell has reported a near 60 per cent slump in first quarter profits after it was hit by the fall […]

Royal Dutch Shell Plc CEO Statement

STATEMENT BY ROYAL DUTCH SHELL PLC CEO, BEN VAN BEURDEN: 30 April 2015 “Our results reflect the strength of our integrated business activities, against a backdrop of lower oil prices. Meanwhile, in what is clearly a difficult industry environment, we continue to take steps to further improve competitive performance by redoubling our efforts to drive […]

Oil Prices Decline Forces Royal Dutch Shell And Total To Postpone West Africa Offshore Projects

Bidness Etc looks at Royal Dutch Shell and Total SA’s West Africa projects and why the projects are facing delays By: MICHEAL KAUFMAN: Apr 28, 2015 The decline in global oil prices has led to a downturn in the energy industry, with oil companies being forced to take drastic steps to address the situation. One of […]

Nigeria: Govt Receives $48 billion From Shell in Four Years

Nigeria: Govt Receives N9.6 Trillion From Shell in Four Years By Roseline Okere: 14 April 2015 The Shell Petroleum Development Company of Nigeria Limited (SPDC) paid $48 billion (N9.6 trillion) revenues to the Nigerian government from 2010 to 2014. Also, the company paid $3 billion (N600 billion) share of royalties and taxes to the Nigerian […]

Corporate espionage: Shell Cloak and Dagger activities

By John Donovan Corporate espionage: Shell Cloak and Dagger activities spanning more than two decades – much of it directed against me  SHELL ALSO Infiltrated spies into the Nigerian government  Was responsible for covert operations against Greenpeace and other perceived enemies, using a serving secret service agent freelancing for a private spy firm closely connected […]

Nigeria: President-Elect pledges to fight the evil of corruption

President-elect Muhammadu Buhari, a former military leader, vowed to fight the scourges of corruption and Boko Haram militants. Sunday Alamba/Associated Press From an article Adam Nossiter published 1 April 2015 by The New York Times under the headline: Nigerian President-Elect Muhammadu Buhari Sets Out His Agenda Extracts KANO, Nigeria — Nigeria’s president-elect, Muhammadu Buhari, did […]

Goodluck Jonathan and the missing $20bn

ARTICLE BY TIM COCKS AND JOE BROCK PUBLISHED 1 April 2015 BY THE RAND DAILY MAIL OF SOUTH AFRICA Between $10.8-billion and $20-billion of oil revenue was unaccounted for over a period of 19 months “Sanusi’s concerns around the first of these mechanisms centre on the 2011 sale by Royal Dutch Shell of its interests […]

Shell takes further steps away from Nigeria

Article by Daniel J. Graeber published 26 March 2015 by UPI Shell takes further steps away from Nigeria ABUJA, Nigeria, March 26 (UPI) — The Nigerian subsidiary of Royal Dutch Shell said it made further progress in its divestment strategy by selling Niger Delta assets from $1.7 billion. Shell Petroleum Development Co. of Nigeria said […]

Nigeria: Shell completes $1.7 billion sale of Nigerian assets to Aiteo

Shell completes $1.7 billion sale of Nigerian assets to Aiteo ABUJA (Reuters) – Oil major Shell said on Wendesday it completed the sale of its 30 percent stake in the Nigerian oil block 29 and the Nembe Creek trunk line to Aiteo Eastern Exploration and Production Co for $1.7 billion. Total and Eni’s Nigerian arms […]

Nigeria: Oil Spill – Era/FoEN Accuses Shell of Denying Communities JIV Reports

“THE NIGER DELTA, Nigeria—Oil is so cheap these days that for people around here, it isn’t even worth stealing anymore.” An article by Igoniko Oduma published 24 March 2015 by AllAfrica.com/Daily Independent (Lagos): Nigeria: Oil Spill – Era/FoEN Accuses Shell of Denying Communities JIV Reports Yenagoa — The Environmental Rights Action/Friends of the Earth (ERA/FoEN) […]

Shell Gives Conditions for More Investments in Nigeria

An article by Ejiofor Alike published 24 March 2015 by ThisDayLive.com Shell Gives Conditions for More Investments in Nigeria Shell Petroleum Development Company (SPDC) has given conditions for it to invest in Nigeria, saying that though it has divested assets, it is also ready to invest more than it has divested if the operating environment […]

Joint Investigation Visit Reports Indict Shell On Oil Spills In Bayelsa

From an article by Fyneface Aaron published 23 March 2015 by The Tide Joint Investigation Visit Reports Indict Shell On Oil Spills In Bayelsa, Nigeria (JIV) report on Seibou and several other oil wells that are spilling its contents into the environments in Bayelsa State operated by Shell Development Company has been attributed to equipment […]

Shell and Eni Struggle To Control Oil Spills In Nigeria

By: MICHEAL KAUFMAN Published: Mar 20, 2015 at 9:35 am EST As reported by Bloomberg, Amnesty International has indicated that Royal Dutch Shell plc (ADR) (NYSE:RDS.A) and Eni SpA (ADR) (NYSE:E) are finding it difficult to control the oil spills in Nigeria. Amnesty International asserted that both companies have been involved in over 550 oil […]

SPDC Completes Sale of Oil Mining Lease 18 in Nigeria

Cautionary note: Shell has a track record in Nigeria of repeated oil spills; toxic gas flaring without end; arming police thugs; hiring militant gang leaders; hanging Nigerian campaigners while in bed with one particularly despotic regime; paying bribes to corrupt Nigerian government ministers and infiltrating spies into the Nigerian government. THE HAGUE, The Netherlands, March 20, 2015 /PRNewswire/ — The Shell Petroleum Development […]

Africa: Statoil’s Historic Disclosures Blow Holes in Exxon and Shell’s Campaign for Secrecy

Statoil’s disclosures deal a major blow to efforts by a small number of backward looking oil firms, including ExxonMobil, Royal Dutch Shell and BP, to weaken the U.S. transparency rule. Unless transparency rules include these elements, they will give companies a licence to continue making corrupt payments. Extracts from a Press Release by Global Witness published […]

Shell, Eni Making No Progress on Nigeria Oil Spills: Amnesty

(Bloomberg) — Royal Dutch Shell Plc is making no progress curbing oil spills in Nigeria and Eni SpA’s operations in the West African country are out of control, according to Amnesty International. The two companies reported more than 550 spills in the southern oil-rich Niger River delta last year, compared with an average of 10 […]

Shell to divest from three more oil blocks in Nigeria

By Roseline Okere on March 18, 2015 Royal Dutch Shell Plc has signed agreements for the divestment of Shell Petroleum Development Company of Nigeria (SPDC) interests in three more onshore Oil Mining Leases (OMLs), which completion is subject to the consent of the Federal Government of Nigeria. Besides, the company has concluded plans to stake […]

Prices Fall to a Six-Year Low for U.S. Oil

Article by Stanley Reed published 17 March 2015 in the New York edition of the New York Times Prices Fall to a Six-Year Low for U.S. Oil Oil prices fell to six-year lows on Monday in the face of concerns that a glut in the United States was outpacing already-brimming storage facilities. Additionally, the Organization […]

NIGERIA: Oil Spill From Shell’s Seibou Well In Bayelsa Traced To Equipment Failure

The oil spills from Seibou oil well operated by Shell Petroleum Development Company (SPDC) in Bayelsa State has been traced to a ruptured and dilapidated pipeline. A joint investigation visit (JIV) report on the incident obtained by SaharaReporters estimated that some 549 barrels of SPDC’s crude was discharged into Ogboinbiri River in Southern Ijaw local […]

The fall in oil price could be a turning point for Nigeria’s economy

From an article by Godwin Uyi Ojo published by The Guardian on 5 March 2015 read moreLike this:Like Loading…

Canadian Firm Welcomes Nigerian High Court Decision on Shell Oil Block

From an article published by thisdaylive.com on 11 March 2015 Canadian Firm Welcomes Nigerian High Court Decision on Shell Oil Block A Canadian firm and member of Crestar Consortium that won the bid for Shell’s Oil Mining Lease (OML) 25, James Bay Resources Limited, has welcomed the decision of a Federal High Court restraining the […]

Shell has no timeline for Nigeria oil well restart after leak

Sat Mar 7, 2015 9:00am GMT LONDON (Reuters) – Shell has no timeline to restart the Seibou 2 wellhead in Nigeria that it closed in January after it leaked 550 barrels of crude oil, a spokeswoman said on Friday. The company said it closed the well, which is operated by Shell Petroleum Development Company of […]

Working for Shell didn’t stop me having morals or accepting climate change, says Mark Moody-Stuart

By John Donovan The Guardian has published another article by former Royal Dutch Shell Group Chairman, Sir Mark Moody-Stuart. He is apparently attempting to deal with the recent suggestion by Jonathan Porritt  that oil company employees should conducer quitting their jobs on moral grounds. Sir Mark says that working for Shell didn’t stop him from […]

Nigeria’s Ogonis Divided Over Resuming Oil Production

By Chris Stein – Voice of America, 06 March 2015 Nigeria’s Ogonis Divided Over Resuming Oil Production KEGBARA DERE, NIGERIA— Oil once flowed in Ogoniland, as it does from wells throughout the creeks and swamps of Nigeria’s Niger Delta region. But in 1993, the Ogoni people said enough. Leaking pipelines were polluting the fields they farmed and […]

Shell Nigeria: Allegations of insider trading and sharp practices

From an article published by ThisDayLive on 6 March 2015 under the headline: House Summons Alison-Madueke, Shell over Divestment from Oil Block The Nigerian House of Representatives has resolved to investigate the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and the Shell Petroleum Development Company (SPDC) over allegations of sharp practices in the divestment of […]

Shell confirms oil leak from underwater facility in Bayelsa

From an article published in the Premium Times on 5 March 2015: Shell confirms oil leak from underwater facility in Bayelsa Extracts The Shell Petroleum Development Company (SPDC) on Thursday confirmed an oil leak incident from its underwater line within its oil fields in Bayelsa. According to a statement issued by Joesph Obari, Spokesperson for […]

Shell divides $46.5 million between 15,500 Nigerians in oil spill compensation

Shell Petroleum Development Company (SPDC) has allocated N600,000 (approx. US$3,000) to each of 15,500 indigenous peoples of Bodo, in the Gokana Local Government Area of Rivers State, as a monetary compensation for its excessive oil spills in the past years. These oil spills have had a damaging effect on the Ogoni environment. The compensation was […]

Shell spills oil in Ogboinbiri River in Bayelsa, refuses to visit site

Extracts from a Premium Times article by Arodiegwu Eziukwu published 3 March 2015 An oil leak from Seibou Deep facility operated by Shell Petroleum Development Company has been discharging crude into Ogboinbiri River in Bayelsa. Residents of the coastal settlements in Ogboinbiri and neigbouring communities say the oil leak has damaged the fishing activities of the […]