Shell lifts 11-day force majeure on Bonny Light crude exports

Shell

Royal Dutch Shell’s Nigerian subsidiary, Shell Petroleum development Company (SPDC) has lifted a force majeure on Bonny Light crude oil exports. Force majeure is a business term, which shows that a partner may not be able to discharge its part of a business deal. However, SPDC yesterday said it lifted the force majeure at 0800 GMT on Friday. It had been in effect since Jan. 20, following the shutdown of the Nembe Creek Trunk Line (NCTL) and declaration of a force majeure by the pipeline’s operator, Aiteo. The operator announced…

Read More

OML 11: Rivers buys Shell’s $150m stake in Ogoniland oilfield

Shell

…targets 250,000 barrels daily production from oil bloc   Rivers State has bought over Shell’s 45% stake in the Oil Mining lease (OML) 11 at $150 million (£ 121.88 million). The field has been abandoned by Shell for 25 years. Governor of the state, Nyesom Wike, who declared this yesterday, maintained that the field had the potential to produce 250,000 barrels per day (bpd). The state, Reuters reported in a follow up document, had with this, purchased the stake from Royal Dutch Shell’s (RDSa.L) in the licence in the restive…

Read More

Group sues FG, SHELL over missing N5trn oil revenue

Shell

Council of Ethnic Youth Leaders of Nigeria yesterday filed a suit at a Federal High Court sitting in Abuja against the Federal Government and the Shell Petroleum Development Company over allegations that Nigeria had lost huge revenue due to what it described as “illicit activities of the company at the Forcados and Bonny Terminals, two crude oil export terminals it operates and from where it has stolen and currently owes Nigeria about N5trillion.” The group in an originating summons marked FHC/ABJ/CS/1144/2019, filed by its counsel, Chibuzor Ezeike, asked the court…

Read More

OML 25, Shell, Belema, Rivers communities and Wike

One of the greatest advantages of the truth, is that it withstands all manner of pressure, propaganda and falsehood. When on June 22, 2019 Governor Nyesom Ezenwo Wike took the courageous step to re-open the Oil Mining License (OML) 25, an interested party engaged commercial mischief makers to heap insults on the governor. Radio programmes were sponsored, planned tours paid for and television shows anchored for the purpose of casting aspersions on the Rivers State Governor. His patriotic intervention to resolve the contrived seizure of that facility was lampooned by…

Read More

Shell deploys cameras to check oil thieves, vandals

Shell

Oil super major, Royal Dutch Shell, has deployed state-of-the-art high definition (HD) cameras against oil thieves and pipeline vandals who reportedly stole 4.015 million barrels from its Nigeria’s multibillion dollars assets in 2018. The cameras, Shell announced through its subsidiary in Nigeria, Shell Petroleum Development Company of Nigeria Limited (SPDC), would also help in quick detection of and response to crude oil spills from its facilities in addition to tracking vandalism of SPDC joint venture assets. SPDC’s General Manager, Igo Weli, who declared this at a media workshop for journalists…

Read More

Shell loses N202m daily to oil thieves, vandals

Shell

    Oil supermajor, Royal Dutch Shell, yesterday hinted that it loses 10,000 barrels of crude oil or about N202 million daily in revenue to theft and vandalism of its pipelines in the Niger Delta. The company’s subsidiary in Nigeria, Shell Petroleum Development Company of Nigeria Limited (SPDC), in a statement, attributed the loss to daily attacks on its pipelines by suspected crude oil thieves and vandals. SPDC’s General Manager, External Relations, Igo Weli, who disclosed this at a media workshop on Pipelines Right of Way, Encroachment and Vandalism in…

Read More

Shell: We didn’t set Kolo Creek ablaze

Shell

Shell Petroleum Development Company of Nigeria (SPDC) yesterday denied that the fire outbreak from a stockpile of crude in two communities in Ogbia in Bayelsa State did not come from its operations. Speaking in Yenagoa, the state capital, the SPDC Media Relations Manager, Bamidele Odugbesan, said that the company had no knowledge of the fire outbreak on Kolo Creek at Emeyal 1 and 2 communities. New Telegraph learnt that the fire outbreak was alleged to have been ignited by unknown person on layers of crude on the Kolo Creek waters…

Read More

Shell spends N390m on projects in Delta

Shell

The Shell Petroleum Development Company (SPDC) of Nigeria Limited yesterday said it has spent more than N390 million on development projects in Global Memorandum of Understanding (GMoU) clusters in Delta State in the year 2018. SPDC General Manager, External Relations, Igo Weli, told journalists in Warri at the media launch of the 2019 edition of the Shell in Nigeria Briefing Notes, an annual publication detailing activities of the business interests of the global energy giant in the country, covering SPDC, Shell Nigeria Exploration and Production Company (SNEPCo), Shell Nigeria Gas…

Read More

Shell surges domestic gas distribution by 150%

Shell

  Shell Nigeria Gas (SNG) has increased its gas distribution capacity by over 150 per cent. Managing Director, SNG, Ed Ubong, said this at the recent media launch of the 2019 edition of the Shell in Nigeria Briefing Notes, an annual publication detailing the activities of the business interests of the global energy giant in Nigeria. He said this was due to the safe completion of its second gas train, the Agbara-Ota Capacity Increase Project, which enables the company and its partners to achieve regular gas supply to subscribed industries…

Read More

Court adjourns FG’s $406.7m debt recovery suit against Shell until June 19

A federal high court in Lagos has adjourned until June 19, hearing in a debt recovery suit filed by the federal government against Shell Western Supply and Trading Ltd, over alleged $406.7 million shortfall in crude oil shipment. The suit numbered FHC/L/CS/336/16, was filed by Fabian Ajogwu, the counsel to the federal government. It has as defendants, Shell Petroleum Development Company of Nigeria Ltd and Shell Western Supply and Trading Ltd, its subsidiary. The money was said to be for crude oil lifted in 2013 and 2014. The suit is…

Read More