THREE MONTHS AFTER FORCE MAJEURE, EXXONMOBIL RESUMES EXPORT

Mobil Producing Nigeria Unlimited, a unit of ExxonMobil, will resume shipment of Qua Iboe crude, Nigeria’s largest grade of crude oil in October, three months after the company had declared force majeure on the exports of the grade.

 

Read more @ Thisdaylive

EXXONMOBIL SEEKS ALTERNATIVE ROUTE TO EXPORT QUA IBOE GRADE

As repairs continue on its main export pipeline damaged last month, Mobil Producing Nigeria Unlimited, a subsidiary of ExxonMobil, is seeking to use an alternative pipeline to transport its Qua Iboe crude grade from the company’s producing fields to its Qua Iboe export terminal in Akwa Ibom State.

 

ExxonMobil’s subsea pipeline was purportedly breached by a militia group last month, forcing the company to declare force majeure on the export of the Qua Iboe crude grade, Nigeria’s largest export stream.

 

Read more @ Thisdaylive

$12BN OIL SUIT: YOU HAVE CASE TO ANSWER, COURT TELLS IOCS

A Federal High Court sitting in Lagos has struck out the preliminary objection filed by the Nigerian Agip Oil Company Limited against the federal government.

 

The preliminary objection dated March 24, 2016, came on the heels of the lawsuits filed by the government against notable international oil companies (IOCs) such Chevron, Mobil, Agip, among others, seeking an order of the court to strike out the suit filed by the government on the grounds that it failed to disclose a reasonable cause of action against the defendant.

 

Read more @ Thisdaylive

OIL SECTOR REGULATION CRIMPS OIL MARKETER’S REVENUES

Government‘s stranglehold on the oil and gas sector is taking a continuing toll on the economy, with companies in the downstream sector seeing a hit to their revenues. The major players which include Total Nigeria Plc, Mobil Nigeria Plc, MRS Nigeria Plc and Forte Oil Nigeria Plc had their cumulative revenue falling by 19.16 percent.

Read more @ BusinessDay

TOTAL OTHERS RATED HIGHLY IN TOP 100 COMPANIES’ SURVEY

The analysis of the 2015 Top 100 Companies’ Survey has shown that Nigerians are well pleased with some multinationals and a host of indigenous companies operating in the Nigerian terrain. Notable among the multinationals are Nestle, Nigerian Bottling Company (Coca Cola), 7-Up, Procter and Gamble, Mobil, Total, Chevron, Ecobank, Toyota Nigeria, Microsoft and Google. 

Read moew @ Businessday

CRUDE OIL PRICE CRASH: MATTERS ARISING

There was a time in Nigeria when Oil companies like Mobil Nigeria, Elf Nigeria were drilling on high water depths and Chevron was on low water depth creeks as they are today.

The medium for moving men and machines from shore to their facilities was through Boats called the “Crew Boat” for men and “Supply Boat” for machines and consumables.

Read more @ The Guardian

DOWNSTREAM OPERATORS SEEK LIBERALISED FUEL PRICE REGIME

Operators in the downstream sector of Nigeria’s oil and gas industry have called for the total liberalisation of petroleum products price regime, maintaining that government’s regulation of petroleum products prices has created more obstacles than incentives in the system.

 

Some of the obstacles, according to the Chairman/Managing Director of Mobil Oil Nigeria Plc, Mr. Tunji Oyebanji, include fixed margins, delay in subsidy refunds, product adulteration, indiscriminate construction of stations and terminals, distortion in the market and prolonged products outages.

 

Read more @ SweetCrude Reports

WHY WE ARE INVOLVED IN FIGHT AGAINST MALARIA, BY MOBIL

Mobil Producing Nigeria (MPN) said yesterday that it has donated over N19billion globally to the fight against Malaria, with Nigeria haviing over N3billion.

 

The multinational oil firm’s Group Medical Director, Dr. Mohammed Bello spoke in Lagos at the inauguration of the Victoria Island Primary School sick bay donated by the Daniel Ogechi Akujobi Memorial Foundation (DOAMF).

 

Read more @ The Nation

MINING LEASE: COALITION PETITIONS EFCC OVER MOBIL'S $600M OIL DEAL

Civil Society Network Against Corruption (CSNAC), a coalition of over 150 anti-corruption organizations has petitioned the Economic and Financial Crimes Commission (EFCC) demanding an investigation into a $USD600million deal that resulted in the renewal of three oil mining leases ( OMLs 67, 68 and 70) for Mobil Producing Nigeria.

Read more @ Newtelegraph

MOBIL ABSOLVES SELF FROM OIL SPILL AT IBENO QIT

Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC), has said that the suspected oil spill that sparked protest from the youths of its host community was not from any of its facility.

The Manager, Media and Communication, ExxonMobil, Mr. Ogechukwu Udeagha, offered the explanation yesterday, while responding to questions from Thisday.

 

Read more @ Thisdaylive

OIL SPILL AGENCY REPORTS FRESH INCIDENT FROM EXXONMOBIL FACILITY IN A'IBOM

The National Oil Spill Detection and Response Agency on Wednesday said a fresh oil spill was detected at the Qua Iboe Terminal, Ibeno oil facility operated by Mobil Producing Nigeria Unlimited in Akwa Ibom.

The State Director of the Agency, Enyi Udeogu, said the spill occurred near Mkpanak community close to Ibeno Beach on Sunday, April 19.

Read more @ Premium Times

GUNMEN KIDNAP FIVE EXXONMOBIL WORKERS IN A'IBOM AFTER ELECTIONS

Gun-toting security personnel have been drafted to Mobil Producing Nigeria Unlimited, a subsidiary of ExxonMobil, following the kidnapping of five personnel of the oil company by unknown gunmen

The kidnapping occurred 20 hours after the presidential and parliamentary elections took place. It was gathered that the incident took place on Monday at a Floating Storage and Offloading Vessel (FSO) in Ibeno Local Government Area of Akwa Ibom State.

 

Read more @ Thisdaylive

NESTE, SEPLAT, GUINESS OTHERS GAIN AS STOCK MARKET RISES BY 0.06%

Nigeria’s stock market closed positive yesterday by 0.06 percent driven by gains recorded in share prices of Nestle Nigeria plc, Seplat Petroleum Development Company plc, Guinness Nigeria plc, Nigerian Breweries plc and Mobil Oil Nigeria plc.

After yesterday’s trading, 23 stocks gained on the Nigerian bourse while 29 equities lost their value. Nestle led the pack of 23 stocks that recorded price increase after its share price rallied from N995 to N1,043, adding N48; followed by Seplat which recorded gain of N16.88 after its share price moved up from N355.12 to N372.

Read more @ Businessday