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Allegation malicious –SPDC The last may not have been heard of the disagreement between indigenous oil firm, Aiteo Exploration and Production Company and Shell Production Development Company (SPDC) following allegations of a fresh attack on its corporate identity and that of its Executive Vice Chairman, Mr. Benedict Peters. Aiteo is claiming the loss of over 16 million barrels of crude ...

………by Abisoye Shola…….. There are strong indications that out of the 161 shortlisted companies for the 57 marginal fields only companies with, aside from the technical capacities among others but with strong financial muscles to pay their signature bonus in dollars equivalent within the 45 days notice will likely win the final bid rounds. Though the Department of Petroleum Resources ...

Agreived host community has shut down Conoil Flowstation in Bayelsa State. The 30,000 barrel per day Conoil Production Flowstation at Ango field in Koluama, Southern Ijaw Local Government Area of Bayelsa, was shut down on Tuesday. The incident is not unconnected with the complains by the host community that the oil firm refuse to open channel of communication to discuss ...

………by James Ikenna……… Optimum Petroleum Development Company Limited is Seeking to Terminate Agreement with LEKOIL over OPL310. The disagreement between the two companies is over revenue sharing. LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa has announced that Mayfair Assets and Trusts Limited, in which it has a 90 percent economic ...

The Department of Petroleum Resources (DPR) has denied media reports that it uncovered a ‘missing 2 million barrels of crude’ in oil production records by Shell Petroleum Development Company (SPDC) between 2016 and 2018. The DPR described the allegations as false and baseless. The report had alleged that SPDC which was allegedly found culpable had admitted the infraction and offered ...

Anglo-Dutch supermajor Shell has reaffirmed its commitment to becoming a net-zero company by 2050, saying that its oil production peaked in 2019 and is set for a continual decline over the next three decades. At the same time, Shell said its carbon dioxide emissions also likely peaked, a year earlier, in 2018. “Our accelerated strategy will drive down carbon emissions ...

French multinational oil company, Total has said it would change its name from Total to TotalEnergies to emphasise its strategy to become a net-zero emissions company.The firm says the decision show its commitment to cleaner energy. Patrick Pouyanne, the chief executive officer of the firm, revealed this in a short video posted on the company’s website on Tuesday. He said ...

……….As Sylva Launches NUCOP………. The Nigerian National Petroleum Corporation (NNPC) has called on stakeholders in the oil and gas industry to join in working towards reducing operations cost to achieve the $10 or less per barrel production cost target. A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Group Managing Director ...

…………by Cyril Madu………. The federal government will allow the current successful bidders of the marginal oil field to pay in Nigeria naira equivalent of other currencies particularly the American dollars. This is a deviation from past bid rounds conducted by the Department of Petroleum Resources (DPR) in which investors are mandated to pay in foreign currencies. The Director/Chief Executive Officer, ...

Oil Major, Royal Dutch Shell needs to take another hard look at its onshore oil operations in Nigeria due to continued problems with theft and sabotage, Chief Executive Ben van Beurden said on Thursday. A Dutch appeals court on Friday held Shell’s Nigerian subsidiary responsible for multiple oil pipeline leaks in the Niger Delta and ordered it to pay unspecified ...