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Royal Dutch Shell

Total planning to sell stake in major oil block in Niger Delta

Total is seeking to sell its 12.5 per cent stake in a major deepwater oilfield off the coast of Nigeria, industry and banking sources have said.
Abubakar Malami

Federal government alleges cheating on oil profits, seeks $62 billion from five firms

The Federal Government says it expects about $62bn from multinational energy conglomerates that include Royal Dutch Shell, ExxonMobil, Chevron, Total and Eni, citing a 2018 Supreme Court ruling it says enables it to review and adjust oil production revenue sharing agreements, Reuters has reported.

US drops investigation into Shell over Nigerian oil deal

Royal Dutch Shell said on Wednesday that it had been informed by the U.S. Department of Justice that it had closed its inquiry into Shell over the 2011 $1.3 billion acquisition of a Nigerian offshore oilfield.

170,000 Fishermen hopeful of victory in suit with Shell

About 170,000 fishermen from 350 communities in Delta, Bayelsa, Ondo states have expressed hope of victory in a case between it and oil giant, Shell that has been in court since 2011.
Donald Trump and Xi Jinping

Markets rally after Donald Trump and Xi Jinping agree to resume talks

Stock markets have rallied after the US and China agreed to restart trade talks, easing fears over the escalation of a damaging dispute between the world's two biggest economies.

Shell, Exxon Mobil eye re-entry into Somalia’s upstream sector

Royal Dutch Shell and Exxon Mobil are looking to reenter the market in Somalia ahead of an oil block bid round taking place later this year, the country’s oil ministry said in a statement.

Bloomberg: General TY Danjuma worth $1.2 billion, owns international hotels

The United States-based financial data media house, Bloomberg, says a former Minister of Defence, Lt.Gen Theophilus Danjuma (retd.), is worth an estimated $1.2bn (N432bn). This is the first time Danjuma’s net worth would be made public.
Aiteo Group

Aiteo announces closure of Nembe Creek Trunk Line 48 hours after reopening

Barely 48 hours after Aiteo Eastern Exploration and Production Company announced the reopening of operations on the Nembe Creek Trunk Line (NCTL), the facility has again been shut down.
Aiteo Group

Aiteo: Fire extinguished on Nigeria’s oil-exporting NCTL pipeline

A fire on Nigeria’s oil-exporting Nembe Creek Trunk Line reported on Sunday has been completely extinguished, operator Aiteo said in a statement.

Shell Petroleum remits $6.3 billion to Nigeria

Shell Petroleum Development Company (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) remitted $6.3 billion in 2018 to Nigerian government.

Shell’s taxes, royalty to federal government, agencies hit $6.397 billion

The payment by Shell companies in Nigeria – in taxes and royalty – to the Federal Government and agencies has hit $6.397 billion in 2018.

Exxon weighs sale of Nigerian oil, gas fields

Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in U.S. shale and Guyana, industry and banking, sources told Reuters.

Shell signs $200 million with UBA to help local contractors access project finance

Royal Dutch Shell Plc’s Nigerian unit agreed a $200 million deal with United Bank for Africa Plc to help its local vendors and suppliers access project finance.

Report: Shell knew its $1.1 billion for OPL 245 will go into private pockets

A new report by a non-governmental organisation, Global Witness, has blamed Shell and Eni for their alleged roles in the acquisition of OPL 245 in the oil-rich Niger Delta which is linked to Malabu oil scandal.

Dutch prosecutors target Shell over Nigeria oil deal

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.

Big oil companies record enormous profits

The world’s top oil companies, the “supermajors” — US firms Chevron and ExxonMobil, Britain’s BP, Anglo-Dutch Royal Dutch Shell and Total of France – earned nearly $80 billion in net profits last year.

Shell profit soars to $23 bn in 2018

Energy giant Royal Dutch Shell on Thursday said its net profit surged 80 percent to $23.4 billion in 2018, thanks to higher oil prices and cost cuts.
Secretary-General of OPEC, Mr. Mohammed Barkindo

WEF: Oil industry considers options to combat climate change, investors’ pressure

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate change and pressure from investors.

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All Progressives Congress (APC) Nigeria

APC national leadership fix NEC meeting Friday

The All Progressives Congress (APC) National Chairman, Comrade Adams Oshiomhole, and his National Working Committee (NWC) have finally bowed to pressure by fixing the National Executive Committee (NEC) meeting for Friday, November 22.

Police recruitment: Court to deliver judgment in PSC suit on December 4

The Federal High Court Abuja will on December 4, deliver judgment in the suit filed by the Police Service Commission against the Nigeria Police Force over the recruitment of 10,000 constables.
Jose Mourinho has been appointed the new Tottenham manager. REUTERS

José Mourinho was not Tottenham’s first choice to replace Mauricio Pochettino

That’s according to a story in the Daily Mail on Wednesday which claims that Spurs chairman Daniel Levy actually wanted Brendan Rodgers to work his magic in north London.

Border closure: Inflation will be moderate in three months – central bank chief

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the rise in inflation is temporary and will go down aggressively in another three to four months.