More bad news for Shell in Nigeria. Nigerian President Umaru Yar’Adua has ordered the state-run oil firm NNPC to recover payment arrears of some $2 billion from Shell and ExxonMobil.
The sum supposedly represents outstanding payments on the Production Sharing Contracts (PSC) on the Bonga and Erha oilfields, accounting for about 20 percent of Nigeria’s total […]

The Niger Delta Rebel group MEND has promised to suspend attacks on US and European oil facilities in Nigeria if former American President Jimmy Carter mediates peace talks.
“President Carter represents transparency, impartiality, humility and integrity; four key ingredients critical in the mediator recipe towards ensuring a genuine and enduring peace process for the region,” said […]

Nigeria, which has been forced to shut in more than half of its oil output following rebel attacks and a workers’ strike, could lose its position as Africa’s top oil exporter to Angola.
The cumulative oil production outage for Africa’s most populous nation now amounts to more than 1.3 million barrels per day from its most […]

Many years ago, before he died in a plane crash, the Nigerian academic Claude Ake warned about the consequences of the militarisation of commerce. Over a decade later, the spiral of violence concerning oil continues. Ake’s painful warning has come true.
As America conducts more naval maneuvers in the Gulf of Guinea, the Movement for […]

Nigeria’s plans for the reform of its state oil behemoth will be presented to President Umaru Yar’Adua by the end of April, according to the country’s Oil Minister Odein Ajumogobia.
The Nigerian National Petroleum Corporation (NNPC) is a partnership with a series of global oil giants exploiting the world’s eighth largest reserves, which has faced restructuring […]