Royal Dutch Shell said yesterday that it lost $146 million, about N23.36 billion from insecurity in Nigeria, and from the impact of its divestment across the globe, among others, in the third quarter of 2014.
Everyone in the oil market should stop panicking because crude supply and demand will return to equilibrium, OPEC’s Secretary-General said.
Samsung Heavy Industries Nigeria, the firm that won and is currently executing the $3.3bn Egina Floating, Production, Storage and Offloading project, has admitted there will be some sort of cost adjustments as far as the project is concerned.
Strong indications emerged on Wednesday that the Senate had rejected the $78 oil price benchmark proposed for the 2015 budget as contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper sent to it by President Goodluck Jonathan penultimate week.
Christophe de Margerie died on October 20, 2014 just after his private plane crash at Vnukovo Airport in Moscow, following a collision with a snow removal machine. Four people were found dead at the scene of the accident, including three crew member and Christophe de Margerie.
Most of those kidnapped were local workers in the oil industry, where piracy in the surrounding waterways and seas is on the rise again after a brief lull, bucking a global trend that has seen pirate attacks fall elsewhere, according to Reuters
The Managing Director of Nigeria Liquefied Natural Gas (NLNG) Limited, Mr. Babs Omotowa, has disclosed that save for the Nigeria’s decision to incorporate the NLNG in 1989, the country would have been flaring approximately 4.2 trillion cubic feet (TCF) of associated gas by now.
These are not the best of times for French oil company, Total Exploration and Production Nigeria Ltd (TEPNL). The company is embroiled in protracted face-offs on several fronts with its host communities in Rivers State.
Oil price volatility has continued to take a toll on the Nigeria’s economy, crashing the country’s revenue to N502.09 billion in September, down 16.5 per cent from N601.65 billion in August.
Following the recommendations of the Governance and Ethics Committee of Total, which met on Wednesday, the Board of Directors has finally named Thierry Desmarest as Chairman of the Board of Directors. Desmarest is currently a member of the Board and Honorary Chairman of the Board.
The Managing Director and Chief Executive Officer of Nigeria LNG Limited, Babs Omotowa, who disclosed this at the Chartered Institute of Personnel Management of Nigeria (CIPM) conference in Abuja Tuesday, stated that Nigeria LNG Limited has de-mystified the various malignant myths about doing business in Nigeria as it has delivered sterling performance within its 15 years of operation. 
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Nigeria’s indigenous oil and gas industry is set to continue its rapid growth as International Oil Company (IOC) divestments spur mergers and acquisitions.
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Airport spokeswoman Elena Krylova said: “Tonight, a plane crashed when it collided with a snow-clearing machine. Three crew members and a passenger died.” “I can confirm that the passenger was Total’s head de Margerie,” she said
Nigeria is demanding a probe into the activities of a company, which it believes is involved in laundering stolen crude to Europe.
Lagos State is set to join the league of oil producing states in the country come next year as the joint venture partners on the Aje Field offshore Lagos have taken the final investment decision on the exploration of the field.
The Federal Government has proposed $78 as the benchmark price for a barrel of crude oil and fixed the exchange rate at N160 per dollar for the 2015 national budget.
Total Exploration and Production Nigeria says a lot of milestones have been achieved towards the realisation of the completion of the development of Egina in 2017. According to the company, such milestones achieved in the past few months include the procurement of the drilling tubulars, the gas export and water injection line pipes, the first wellheads set, the steel cutting in-country for living quarters and subsea manifolds, and finally last week, the sail away of the Drilling Rig West Jupiter to Nigeria.
The Shell Petroleum Development Company (SPDC) has been accused of delaying the privatisation of Afam Power Plant by the Bureau of Public Enterprises (BPE) for undisclosed reasons.
The construction of the Total’s Egina field’s floating production, storage and offloading (FPSO) vessel, has begun, two years behind the scheduled time due to conflict between the principal contractor, Samsung Heavy Industries (SHI) and Lagos Deep Offshore Logistic Base (LADOL), a sub-contractor and one of the local vehicles to the FPSO project.
