Legal & Regulatory

Supreme Court ends IPMAN’s 5-year wrangling

Dec 18, 2018

The Supreme Court judgment validated Elder Chinedu Okoronkwo as the substantive National president of The Independent Petroleum Marketers Association of Nigeria (IPMAN), ending the five years of bickering and four years of legal tussle, which adversely affected the unity needed by the association to tackle hitches in supply of the product nationwide. The new development,…

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Italian judge says evidence indicates Eni, Shell knew of Nigerian kickbacks

Dec 17, 2018

An Italian judge found on Monday that oil groups Eni and Royal Dutch Shell were fully aware that their 2011 purchase of a Nigerian oilfield would result in corrupt payments to Nigerian politicians and officials. Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion (1.03 billion pounds) in a deal…

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Nigerian President, VP confident Petroleum Industry Bill will pass soon

Dec 14, 2018

President Muhammadu Buhari has expressed his commitment to reform the oil and gas sector, pointing out that effectively reforming the petroleum industry must be meticulous and designed to meet the yearnings and aspirations of the citizenry. Buhari stated this yesterday at the Presidential Villa when he received the newly-inaugurated national executive committee members of the…

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Electricity theft offenders risk 7 year jail term in new Bill

Dec 13, 2018

If the Bill seeking for an Act to prohibit and prevent electricity theft sails through, convicted offenders risk a jail term of seven years. The Bill entitled “A Bill for an Act to prohibit and prevent electricity theft, power infrastructure vandalisation and power company protection 2017,” was submitted to the Senate Committee on Power, Steel…

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FG files $1.1b lawsuit in London against Shell, Eni over OPL 245 deal

Dec 13, 2018

Lawyers for the Nigerian government said they had filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni in a commercial court in London on Thursday in relation to a 2011 oilfield deal. The OPL 245 oilfield is also at the heart of an ongoing corruption trial in Milan in which former and current…

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Director of Nigeria’s DPR speaks on upstream progress, gas-to-power

Dec 12, 2018

Mordecai Ladan, the director of the Department of Petroleum Resources (DPR), talks to TOGY about, about the increasing capacity of Nigeria’s oil and gas industry, the entrance of local companies into the upstream sector and government reforms to hydrocarbons policy. The DPR oversees the activities of petroleum companies awarded licences in Nigeria. • On Nigeria‘s…

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Court prevents LADOL from ejecting Samsung over Egina FPSO

Dec 12, 2018

A Lagos State High Court sitting in Igbosere has granted an interlocutory injunction restraining Global Resources Management Limited and LADOL from ejecting Samsung Heavy Industries (SHIN) Nigeria Limited and its subsidiary, SHI-MCI FZE, from the free zone in Lagos pending the delivery of the judgment to the substantive suit on January 25, 2019. The presiding…

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Russia asks Italy to drop charges against envoy in Nigerian kickbacks case

Dec 7, 2018

Russia has asked Italy to drop charges against a former ambassador caught up in a Nigerian corruption case, legal documents showed on Wednesday. Ednan Tofik ogly Agaev, a former Russian ambassador in Colombia, is charged with international corruption in a case revolving around the 2011 purchase by oil majors Eni and Shell of Nigeria’s OPL…

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Total, SHI resolve dispute over $3.3b Egina FPSO

Dec 7, 2018

Total Upstream Nigeria Limited (TUPNI) and Samsung Heavy Industries (SHIN) have resolved for out-of-court settlement over controversies trailing the $3.3 billion Egina Floating Production Storage and Offloading Vessel (FPSO). The new development will apparently facilitate the completion of the FPSO, which is currently lying offshore and bring the parties closer to realisation of 200,000 barrels…

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Shell reviews Nigerian oil deals involving ex-exec accused of kickbacks

Dec 6, 2018

Royal Dutch Shell has concluded that a Nigerian oilfield sale where it suspects an executive took bribes was not linked to a separate court case in which he and Shell face corruption charges over a $1.1 billion offshore acquisition. The Anglo-Dutch company filed a criminal complaint in March against Peter Robinson, a former vice president…

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