Legal & Regulatory

Court to rule on stay of proceedings on NLNG suit Feb 10

Feb 7, 2014

A Federal High Court sitting in Lagos and presided over by Justice MB Idris has adjourned to February 10, ruling on the application filed by the second defendant, Global West Vessel Specialist Limited (GWVSL), for stay of proceedings of the substantive suit pending the determination of its appeal against the High Court’s earlier decision in…

Read More

Soyinka centre petitions EFCC over fuel subsidy prosecution

Feb 6, 2014

The Wole Soyinka Centre for Investigative Journalism, WSCIJ, has petitioned the Economic and Financial Crimes Commission, EFCC, over the alleged non-implementation of some recommendations of the Technical Committee on Payment of Fuel Subsidy in the country. The centre stated that the Federal Government had carried out what it described as selective implementation of the technical…

Read More

‘Contracts at NIMASA didn’t go through tenders’ board’

Feb 6, 2014

An Economic and Financial Crimes Commission (EFCC) witness, Aliyu. E. Aliyu, yesterday claimed that some contracts awarded at the Nigeria Maritime Administration and Safety Agency (NIMASA) were not approved by a Parastatals Tenders Board (PTB). He was testifying in the trial of former NIMASA Director-General (DG) Raymond Omatseye, who was charged with an alleged contract…

Read More

House C’ttee assures of PIB passage by year end

Feb 5, 2014

The Chairman of House of Representatives Committee on Petroleum Downstream, Peterside Dakuku, has revealed that the Petroleum Industry Bill (PIB) currently before the National Assembly would be passed before the end of this year. Dakuku, who noted that the bill has passed first and second reading in the House of Representatives, made the revelations when…

Read More

N1.7 billion subsidy fraud – Absence of prosecutor stalls trial of oil marketer

Feb 4, 2014

The absence of the prosecution counsel on Monday stalled the trial of an oil marketer and a cargo surveyor charged with N1.7 billion petrol subsidy fraud at a Federal High Court, Lagos. Samuel Owa and Onassisi Wajutom, who are of Stone Bridge Oil Ltd. And Vibrant Ventures Ltd. respectively, are standing trial alongside their companies…

Read More

Court dismisses Chevron’s preliminary objection against fishermen

Feb 3, 2014

Justice Ibrahim Buba of the Federal High Court in Lagos has dismissed the preliminary objections filed by Chevron Nigeria and Fode Nigeria Limited against the N17 billion suit instituted by some fishermen in Bayelsa State. Justice Buba based his refusal to grant the objections on the grounds that the suit instituted by the fishermen was…

Read More

PIB: Lawmakers admit to pressure from IOCs

Feb 3, 2014

Lawmakers in the House of Representatives have admitted to being under pressure to scuttle the passage of the Petroleum Industry Bill, PIB, from International Oil Companies, IOCs, operating in the country. This will be the first public admission by the legislators as to why the PIB has remained at the National Assembly for about a…

Read More

Bonga oil spill: FG fines Shell N1.84trn

Jan 30, 2014

Shell Nigeria Exploration and Production Company, SNEPCO, was, yesterday, ordered by Nigerian Maritime Administration and Safety Agency, NIMASA, and the National Oil Spill Response and Emergency Agency, NOSREA, to pay a total of $11.5 billion, about N1.84 trillion, as fines and compensation for the 2011 Bonga oil spill incident. Speaking at a public hearing organised…

Read More

Nigerian firm drags Samsung, Total to court over $3.8bn Egina Project

Jan 30, 2014

A Nigerian indigenous firm, Lagos Deep Offshore Logistics (LADOL) has dragged Samsung Heavy Industries of Korea, Total Upstream Nigeria Limited and the Nigerian Content Development and Monitoring Board (NCDMB) before a Federal High Court over an alleged plot to exclude it (the firm) from the execution of the local component of the $3.8 billion Egina…

Read More

Odinkalu, Falana, others ask EFCC to act on reports on fraud in petroleum industry

Jan 29, 2014

A group of lawyers and civil society advocates under the banner of ‘The Oil Probe Follow-up Group’ has called on the Economic and Financial Crimes Commission, EFCC, to investigate the allegations of fraud detailed by the two committees set up by President Goodluck Jonathan in the wake of the 2012 fuel subsidy crisis. The group…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...