NPDC TARGETS 600MMSCF/D OF GAS BY END OF 2015

The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) targets to raise its gas production from 420 million standard cubic feet per day (mmscf/d) to 600 mmscf/d in the Oil Mining Leases (OMLs) divested by Shell Petroleum Development Company (SPDC) and other International Oil Companies (IOCs).

 

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US COURT ORDERS CHEVRON, BNP PARIBAS TO PRODUCE DOCUMENTS ON DISPUTED OIL BLOCKS

A United States District Court of Harris County, Texas, has ordered Chevron USA Inc. and BNP Paribas Securities Corporation to produce all documents and correspondence between them or their employees or agents and the bidders of Chevron’s disputed Oil Mining Leases (OML) 52, 53 and 55 being contested by Brittania-U Nigeria Limited.

Brittania-U had dragged Amni International Petroleum Development Company Limited, Amni International Petroleum Production Services, Tunde Afolabi, Belemaoil Producing Limited, Belemaoil Producing Corporation and Jack-Rich Tein to the US court for ‘tortious’ interference in the bidding process for the three oil blocks.

 

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SHELL STAKES $70.2 BILLION ON BG GROUP IN BUYOVER DEAL

Royal Dutch Shell has agreed to buy British Gas (BG) for £47 billion ($70.2 billion) in the first major energy industry merger in more than a decade, giving the company a greater stake in the world’s natural gas markets in the wake of tumbling oil prices.
This is coming barely two weeks after selling off its OML 29 to an indigenous oil firm in Nigeria.

Read more @ Guardian

WOOD MACKENZIE CLASSIFIES CHEVRON'S DISPUTED OIL BLOCK AS NON-COMMERCIAL

A global leader in commercial intelligence for the energy, metals and mining industries, Wood Mackenzie has declared the Ohaji South Field in Chevron’s disputed Oil Mining Lease (OML) 53, which was acquired by Seplat Petroleum Development Company Plc as non-commercial.

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TOTAL COMPLETES $1BN NIGERIAN ASSET SALE

French oil major, Total, has completed the divestment of its stakes in three onshore Nigerian oil blocks, with sale proceeds amounting to over $1bn.

 

The divested assets are Oil Mining Leases 18, 24 and 29, the company said, adding that its interest in OML 29 was sold to Aiteo Eastern E&P, a Nigerian company, for $569m.

 

Read more @ PunchOnline

NNPC, SHELL, AITEO CONCLUDE SALE OF OML 29, NEMBE CREEK TRUNKLINE

The Nigerian National Petroleum Corporation (NNPC), Shell Petroleum Development Company (SPDC) and a local oil and gas firm, Aiteo Eastern Exploration and Production Company Limited, have concluded the transaction involving the acquisition of SPDC’s 30 per cent stake in Oil Mining Lease (OML) 29 and the Nembe Creek Trunkline (NCTL) by the indigenous firm under the latest divestment programme of the oil giant.

Total E&P Nigeria Limited and Nigerian Agip Oil Company Limited have also assigned their interests of 10 per cent and five per cent respectively in the lease, ultimately giving Aiteo Eastern E&P Company Limited a 45 per cent interest in OML 29 and the NCTL.

 

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HOUSE SUMMONS ALISON-MADUEKE, SHELL OVER DIVESTMENT FROM OIL BLOCK

The House of Representatives has resolved to investigate the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and the Shell Petroleum Development Company (SPDC) over allegations of sharp practices in the divestment of Oil Mining Lease (OML) 11 by the Anglo-Dutch oil multinational.

Prompted by a motion sponsored by Hon. Uzoma Nkem Abonta (PDP, Abia), the House would probe the circumstances surrounding Shell’s exit from the said oil block and host communities knowing how interested it was in the build-up to the acquisition process.

 

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CHEVRON, SEPLAT, BRITTANIA-U TO MEET IN SUPREME COURT OVER OIL BLOCKS

The Supreme Court will today entertain an appeal brought against Chevron Nigeria Limited and Seplat Petroleum Development Company Plc by Brittania-U Nigeria Limited over the sale of Chevron’s Oil Mining Leases (OMLs) 52, 53 and 55.

Chevron had sold the three oil blocks despite the pending litigations at a Federal High Court, Appeal Court and the apex court arising from the disputes in the bid process leading to the sale of the three leases.

 

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COURT TO HEAR DISPUTE ON OML 25 TODAY

A Federal High Court in Lagos will on Monday (today) adjudicate on all pending applications in a suit seeking to resolve the dispute over Oil Mining Lease (OML) 25. Trial judge, Justice Ibrahim Idris had ordered Shell Petroleum Development Company (SPDC) of Nigeria Ltd; Total E & P Nigeria Ltd and Nigeria Agip Oil Company Ltd to preserve their 45 percent participating interests in the said OML 25.

The order followed arguments presented by Tayo Oyetibo, (SAN), counsel to Crestar Integrated Natural Resources Limited which approached the court to complain against the defendants.

Read more @ Daily Independent

SHELL, OTHERS SEEK TO STAY PROCEEDINGS IN OML 25 SUIT

Shell Petroleum Development Company of Nigeria (SPDC) Ltd;Total E & P Nigeria Ltd (TE&P) and Nigeria Agip Oil Company Ltd (NAOC) have filed an application seeking to stay further proceedings in the suit filed to halt them from transferring their 45 percent participating interests in Oil Minning Lease (OML) 25 at the Federal High Court, Lagos.

The matter is before Justice Mohammed Idris. The Judge had earlier made an order after hearing ex-parte application and arguments presented by Tayo Oyetibo, SAN, counsel to the applicant, Crestar Integrated Natural Resources Limited (CINRL), retraining Shell and others from divesting their interest in OML 25 pending the determination of the suit.
 
Read more @ Guardian

SAMSUNG, TOTAL DISOBEYING COURT ORDER, PLAINTIFF TELLS COURT

A lawyer and plaintiff in the suit against Samsung Heavy Industry Nigeria Limited and others, Mr. John Owubokiri, has told a Federal High Court, Lagos, that Samsung and Total Upstream Nigeria Ltd were still working on the multi-million dollar contract for the controversial storage and offloading unit FPSO in Egina Field within OML 130, despite an order of the court for parties to maintain status quo.

Read more @ Guardian