Legal & Regulatory

Switzerland takes legal action against Nigeria over seizure of oil tanker

Jun 3, 2019

Switzerland has asked an international court to order Nigeria to release a Swiss-flagged oil tanker, its cargo and crew, that have been detained off Port Harcourt for the past 16 months. The Swiss foreign ministry said in a statement sent to AFP that it had appealed on May 21 to the International Tribunal for the…

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Reps pass Power Sector Reform Bill through second reading

May 24, 2019

A bill seeking to end theft of electricity and electrical infrastructure has passed through second reading at the House of Representatives. The bill would protect power investments by prescribing penalties for defaulters. The House of House of Representatives on Wednesday passed through second reading a Bill for an Act to amend the Electric Power Sector…

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Petrol prices could rise as Senate removes equalization fund from PIGB

May 21, 2019

Nigerians living far from petroleum depots or in mountainous and riverine communities may be burdened with high price of petroleum products, especially Premium Motor Spirit (PMS) otherwise called petrol if President Muhammadu Buhari signs into law the current version of the Petroleum Industry Governance Bill (PIGB). Already, the Senate has expunged the Petroleum Equalisation Fund…

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NERC fines Abuja Disco N250m for electrocution, violations

May 14, 2019

The Nigerian Electricity Regulatory Commission (NERC) has fined the Abuja Electricity Distribution Company (AEDC) N250 million for all infractions/ violations, including electrocution, payable on May 20, 2019. According to the order the commission released to reporters in Abuja on Tuesday, “AEDC shall pay the sum of N50million to the late Master Mohammed Arafat Jibril as…

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Lekoil provides update on OPL 310 Licence, withdraws legal action over offshore block

May 14, 2019

Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa more generally, announces that further to the announcement, of 28 March 2019, the Company advises that it has received correspondence by letter (the “Letter”) from the Ministry of Petroleum Resources relating to an application for an…

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FG in court filings says ex-president and his oil minister took bribes

May 12, 2019

The Nigerian government has accused former President Goodluck Jonathan and his then oil minister of accepting bribes and breaking the country’s laws to broker a $1.3 billion oil deal eight years ago, a London court filing shows. The deal, in which Anglo-Dutch company Royal Dutch Shell and Italian peer Eni jointly acquired the rights to…

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DPR to collaborate with FAAN over aviation fuel quality control

May 9, 2019

The Department of Petroleum Resources has said it is collaborating with the Federal Airports Authority of Nigeria to address the gaps in the supply chain of Aviation Turbine Kerosine, also known as aviation fuel, in the Lagos. The DPR said the agencies, during a recent meeting in Lagos, agreed to continue collaboration to deliver on…

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Nigeria initiates suit in London against Shell, Eni for damages in OPL 245 case

May 8, 2019

The Government of Nigeria has filed an additional lawsuit against supermajor Shell and Italian giant Eni over allegations linked to the controversial OPL 245 oil block deal off Nigeria. In addition to the ongoing trial in Milan involving the two oil players, the government of the West African country is now seeking to trace and…

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Nigerian court dismisses claim against Eni, Petrobras over illegally sold oil

May 8, 2019

A Nigerian high court dismissed the government’s claims that local units of Eni SpA and Petroleo Brasileiro SA illegally exported crude oil to the U.S. Justice Mojisola Olatoregun said Wednesday in Lagos, the commercial capital, that the government could not provide evidence to back its lawsuit against Agip, a subsidiary of Eni, and Petrobras’s Brasoil.…

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Shell, Eni executives face corruption allegations over Nigerian oilfield deal

May 7, 2019

Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the West African country’s government said in a London lawsuit that it believes a handful of executives, including CEOs, were tied to more than $1 billion in bribery payments. In court documents filed in early April, the Nigerian…

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