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Nigeria seeks to resolve disputed oilfield issues, denies criminal liability

Nigeria seeks to resolve disputed oilfield issues, denies criminal liability

NIGERIA wants to resolve outstanding issues around the disputed OPL 245 oil block as it seeks to attract investment to its oil and gas industry and has held talks with Shell and Eni to discuss the matter, its oil minister said. Minister of State for Petroleum Heineken Lokpobiri Minister of State for Petroleum Heineken Lokpobiri reiterated the government's position that there was no criminal liability on its part, or by the other parties, in the oil block deal, which has been embroiled in litigation for years. Nigeria in November, withdrew a $1.1 billion civil claim against Shell and Eni related to allegations…
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Shell to exit Nigeria’s troubled onshore oil after nearly a century

Shell to exit Nigeria’s troubled onshore oil after nearly a century

SHELL is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion. The British energy giant pioneered Nigeria's oil and gas business beginning in the 1930s. It has struggled for years with hundreds of onshore oil spills as a result of theft, sabotage and operational issues that led to costly repairs and high-profile lawsuits. Since 2021, Shell has sought to sell its Nigerian oil and gas business but will remain active in Nigeria's more lucrative and less problematic…
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Shell confirms Nigeria’s withdrawal of oilfield claim

Shell confirms Nigeria’s withdrawal of oilfield claim

SHELL confirmed that Nigeria has withdrawn civil claims totalling $1.1 billion against it concerning allegations of corruption in a 2011 oilfield deal. "We are pleased that this claim has been withdrawn. It brings to an end to all legal cases against Shell on OPL 245 in Italian courts," a Shell spokesperson said in a statement. In 2021, an Italian court acquitted Shell, Eni, the operator of the OPL 245 oilfield, and company executives of corruption allegations in the acquisition of the field a decade earlier. Eni confirmed Nigeria had withdrawn the claim on Thursday.
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Nigeria withdraws $1.1 bln claim against Eni on oilfield deal

Nigeria withdraws $1.1 bln claim against Eni on oilfield deal

NIGERIA is withdrawing civil claims totalling $1.1 billion against Italian energy group Eni and related to allegations of corruption in a oilfield deal, Bloomberg News reported. The West African country's justice ministry will waive the claims before Italy's highest court "unconditionally" and "with immediate effect" no later than November 17, the report said citing a letter regarding the OPL 245 field and seen by the newswire. Responding to a request for comment, an Eni spokesperson confirmed that the group had received the letter regarding OPL 245, and said it was pleased about the Nigerian government's decision. The energy group added it…
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Amid gas scramble, Africa leads a boom in nimble export facilities

Amid gas scramble, Africa leads a boom in nimble export facilities

AFRICA is at the forefront of a global wave of new floating gas facilities as countries on the continent seek to meet surging demand in Europe as quickly and cheaply as possible, analysts and energy companies told Reuters. Eni, BP and smaller independent players such as Nigeria's UTM Offshore are driving the surge with projects on Africa's east and west coasts. Floating Liquefied Natural Gas (FLNG) vessels shipped Mozambique's first-ever gas exports last November, and the Republic of Congo is preparing for its first LNG exports in December. Africa currently exports 40 million tons per annum (mmtpa) of gas, and Westwood…
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Nigeria needs $12 billion to clean up Bayelsa oil spills – report

Nigeria needs $12 billion to clean up Bayelsa oil spills – report

NIGERIA needs $12 billion to clean up decades-old oil spills in southern Bayelsa state over a 12-year period, a new report said and singled out Shell and Eni for being responsible for most of the pollution. Bayelsa is one of the major oil-producing states in the Niger Delta, a region blighted by pollution, conflict and corruption related to the oil and gas industry. Oil majors in Nigeria have long faced legal challenges over Niger Delta spills, which they mostly blame on sabotage and vandalism of pipelines and illegal refining. The Bayelsa State Oil and Environmental Commission said in a report that it…
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Nigeria asks for $1.1 bln advance from Eni, Shell for damages in graft case

Nigeria asks for $1.1 bln advance from Eni, Shell for damages in graft case

Nigeria asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.092 billion as an immediate advance payment for damages it is claiming in one of the oil industry's biggest-ever corruption trials. At a hearing into alleged corruption linked to Eni and Shell's 2011 acquisition of the OPL 245 field, Lucio Lucia, lawyer for the Nigerian government, called for a guilty verdict and an advance payment, ahead of any broader damages package set by a court at a later date. Lucia did not specify how much Nigeria was seeking in damages overall but said the…
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Italy prosecutors seek jail for Eni, Shell executives in Nigeria

Italy prosecutors seek jail for Eni, Shell executives in Nigeria

ITALIAN prosecutors have asked for oil majors Eni and Shell to be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria. In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a Nigerian oilfield in 2011, knowing most of the $1.3 billion purchase price would go to politicians and middlemen in bribes. In a Milan court, prosecutors asked for eight years in prison for Descalzi and seven years and four months for Shell's former head of upstream…
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