Nigeria | Egypt Oil & Gas - Part 42
Shell May Be Held Liable for 2008 Nigeria Oil Spills
A Dutch appeals court ruled that Royal Dutch Shell may be held liable for 2008 oil spills at its subsidiary in Nigeria, potentially opening the way for other compensation claims against multinationals in the Niger Del...
Nigeria Convicts Nine Asians of Oil Theft
Nigerian Federal High Court based in Lagos convicted five Filipinos and four Bangladeshis for stealing 3,423,097 metric tons of crude oil from Nigeria, reported AllAfrica. They were sentenced to five years imprisonmen...
Nigeria to Cut Petrol Subsidies in 2016 amid Oil Production Drop
Nigeria plans to reintroduce the old petrol price of $0.49 (N97) per liter in 2016 in line with the country’s policy to cut oil subsidies amid the global oil price slump, Premium Times reported. According to Nig...
Nigeria Approves $2b Fuel Subsidy, NNPC Advocating Deregulation
Nigeria announced it had approved a $2b (N407.07b) fuel subsidy package, including payments to oil marketers for accrued arrears from the two fiscal years, 2014 and 2015, SaharaReporters wrote. The approval came after...
Nigerian Navy Fined for Illegal Vessel Detention
A Lagos-based court has ordered the Nigerian Navy and its Chief of Naval Staff to jointly pay a fine of up to $1m to the British Mercury Oil & Gas company, based in Farnham, in a settlement over damage caused by i...
Nigeria to Launch Oil&Gas Exploration in Lake Chad Area
The New Nigeria Development Company (NNPC) owned by 19 northern state governments has disclosed plans to commence exploration of oil and gas in the Lake Chad area, in the North-East, the LeadershipNg website reported....
Nigeria Proposes $30.1b Budget with 15% Expenditure Rise for 2016
The Nigerian government proposed a $30.1b national budget for 2016 with a 15% rise in expenditure compared to 2015, pledging investments in infrastructure projects, and social welfare programs, officials told local me...
Nigeria’s New Oil Bill Revises Tax Regime for Investors
Nigeria’s government is breaking up a protracted all-encompassing 2012 Petroleum Industry Bill (PIB) to overhaul the state sector, by closing loopholes that breed corruption, Reuters informed. The state oil gian...
