Legal & Regulatory

Our role in the $1.09bn Malabu oil deal – Shell

Jul 31, 2013

Shell Nigeria Ultra Deep Limited, SNUD, is in the centre of the Malabu Oil deal, for which it is being investigated by the British police. The Nation has obtained documents filed at the International Centre for Settlement of Investment Disputes. The controversy over the $1.092, 040,000 Malabu Oil deal continues with one of the parties,…

Read More

‘Why we couldn’t probe oil documents’ – PPPRA

Jul 30, 2013

A Lagos High Court, Ikeja was yesterday told that the Petroleum Products Pricing Regulatory Agency (PPPRA) failed to investigate some documents submitted by three oil firms for payment of subsidy on oil imported into the county. A prosecution witness, Mr Victor Chidok, who is the head of Lagos Zonal Office of the PPPRA, disclosed this while giving…

Read More

Oil marketer forged certificate of cargo transfer to claim fuel subsidy

Jul 26, 2013

The Branch Manager of the Lagos office of Inspectorate Marine Services Nigeria Limited, Mr. Chidi Onyejekwe, Thursday told an Ikeja High Court that an oil marketing firm, Rocky Energy Limited forged the Certificate of Cargo Transfer purportedly issued by his firm (Inspectorate Marine Services). Onyejekwe, a prosecution witness, made the allegation before Justice Lateefa Okunnu…

Read More

Senate probes Malabu oil deal

Jul 26, 2013

The Senate Thursday mandated its committees on finance and upstream petroleum to investigate the $1.092 billion Malabu oil deal. While explaining the necessity to look into the matter, Senate President, David Mark, insisted that investigation be conducted into the matter with the aim of unravelling the circumstances revolving around the Malabu saga. The House of…

Read More

UK investigates Shell, ENI Nigerian oil block deal

Jul 25, 2013

British police are investigating a money-laundering allegation related to a big oil field bought by Shell and ENI spa from Nigeria for $1.3 billion, after most of the cash they paid ended up in a company linked to a former Nigerian petroleum minister. The probe concerns offshore block OPL 245, which industry sources say contains…

Read More

Crude oil theft: FG sets up task force to prosecute offenders

Jul 19, 2013

The Federal Government has set up a legal task force to prosecute persons found culpable in crude oil theft. Crude oil theft has been on the rise in recent months with the Finance Minister, Ngozi Okonjo-Iweala, recently announcing that Nigeria loses about N150 billion monthly to crude oil theft, thus reducing revenue available to the…

Read More

Malabu: UK court orders Etete to pay $110m to ‘middleman’

Jul 18, 2013

The controversial sale of Nigeria’s oil block OPL-245 took a new twist yesterday as the United Kingdom high court ruled in favour of the middleman who had instituted a case against Malabu Oil and Gas Company, claiming to have been side-lined for his role in brokering the deal which was executed under corrupt circumstances. Much…

Read More

Reps committee report on OPL 245 compromised – Adoke • It’s our duty to protect national interest – Reps

Jul 18, 2013

The Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN), on Wednesday alleged that the report of the ad hoc committee of the House of Representatives was authored by some people who compromised their positions. He also urged the House not drag the Federal Government and himself into the controversy surrounding the…

Read More

AGF summoned over US $1.3 billion Malabu oil deal

Jul 17, 2013

The House of Representatives, yesterday, summoned the Attorney General of the Federation and Minister of Justice, Mr Mohammed Adoke, SAN, to appear before its Committee on Justice to explain how he got information on a yet to be released report on the Malabu oil deal. In a resolution, the House mandated the committee to set…

Read More

Malabu oil deal – Reps report indicts Adoke, Shell, Agip

Jul 15, 2013

Ten months after its inauguration, the House of Representatives committee which investigated the transaction involving the Federal Government and Shell/Agip Companies and Malabu Oil and Gas Limited in respect of the Sale of Oil Bloc OPL 245 investigating has fingered the attorney- general of the federation (AGF), Mr. Mohammed Adoke (SAN), Shell Nigeria Exploration and…

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...