April 30, 2013
‘Oil theft is conspiracy against the people’ – Dailytrust

The massive theft of crude oil in the Niger Delta is a conspiracy by some top government officials, their military and foreign collaborators to short-change the larger Nigerian population, President of the Nigeria Labour Congress, NLC, Comrade Abdulwahed Omar, has said. Omar, who spoke in Lagos at the weekend at the special delegates conference of…

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April 30, 2013
PIB: Senate to Hold Zonal, FCT Public Hearings – Thisday

The Senate Joint Committees on Petroleum Upstream, Downstream, Gas and Judiciary handling the Petroleum Industry Bill (PIB) will hold public hearing in three zones of the federation and the Federal Capital Territory (FCT), THISDAY learnt at the weekend. A source within the committee who confided in THISDAY, listed the zones and designated places to include…

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April 30, 2013
Niger Delta Action Plan to Pool $10bn in Investment – Thisday

The Niger Delta Action Plan, a collaborative framework to develop the oil-rich region is  to pool an estimated $10 billion for investment within the next five years in addition to another $200 million (N3.2 billion) through  a new development  funding vehicle, Multi-Stakeholder Trust Fund. The (MSTF) received the backing of the federal government at the…

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April 30, 2013
Obasanjo: Proposed Pipeline Protection Commission is Avenue for ‘Chop-chop’ – Thisday

The former President, Chief Olusegun Obasanjo, has said the proposed Pipeline Protection Commission by the federal government to combat pipeline vandalism is unnecessary, saying it was an avenue “for chop-chop.” Obasanjo said this yesterday in Abuja, during a thanksgiving service in commemoration of 50th birthday anniversary of former Minister of Education, Mrs. Obiageli Ezekwesili. The…

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April 29, 2013
Nigeria’s daily Oil Production Underestimated – Dailytrust

Nigeria’s daily crude oil production currently put at 2.4 million barrels is highly underestimated, a consultant to the Federal Government in the measurement field has said.Yusuf Y. Sani, who is the Chairman of Nigerco Nigeria Limited, said based on the current oil reserves and investments by the oil companies, Nigeria’s real production figure is in…

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April 25, 2013
Navi inaugurates website on crude oil theft – Punch

Nigerian Navy has inaugurated a new website on crude oil theft and pipeline vandalism in furtherance of the directive of President Goodluck  Jonathan to ensure that crude oil theft and pipeline vandalism be wiped out from the nation’s maritime environment. The website, www.cot.navy.mil.ng, provides details on exploration, nominations, approvals, movement and trans-shipment of petroleum products…

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April 25, 2013
PIB and the IOC’S Final Final – Vanguard

ON April 4, Vanguard reported that the IOCs – or International Oil Companies – have responded aggressively to the latest draft of Nigeria’s Petroleum Industry Bill, PIB. It is no surprise that they’ve been so critical. The IOCs making the criticisms – including ExxonMobil, Chevron, Total and Shell – under the platform of the Oil…

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April 23, 2013
PIB debate: Pat Utomi opposes host communities’ fund – Daily Trust

More money to oil producing communities will not bring the desired development to the Niger Delta region, a former presidential adviser and one time presidential candidate, Professor Patrick Utomi has said.Speaking yesterday at the Corporate Social Responsibility Conference, organised by Total Upstream Companies in Nigeria, Professor Utomi said this idea of more money, has never…

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April 23, 2013
First Quarter 2013: A period of Lull in the Oil Industry- Thisday

Unlike in 2012, when many landmark developments were recorded in Nigeria’s oil industry, including the start-up of production at Total’s Usan deepwater field, Ejiofor Alike writes that the industry was characterised by stagnation, frequently interrupted by crude oil theft in the first quarter of 2013 As the euphoria that characterised activities in Nigeria’s industry in…

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April 19, 2013
Shell shuts down Nigeria pipeline after thefts – Voice of America

  For the second time this year, Royal Dutch Shell has shut down a major oil pipeline in southern Nigeria to repair damage caused by theft. Shell says it shut down its Nembe Creek Trunkline on Monday to remove illegal oil taps and investigate suspected theft-related leaks. The shutdown will halt production of about 150,000…

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April 19, 2013
Nigeria Loses N191bn to crude oil theft in three months- Vanguard

Nigeria lost about N191 billion ($1.23 billion) in the first quarter of 2013, due to drop in crude oil production, arising from incessant crude oil theft and vandalism along the major pipelines within the Niger Delta, the Nigerian National Petroleum Corporation, said yesterday. Also, the country is expected to lose N83 billion ($554.0 million) in…

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April 19, 2013
The Proposed Dangote Refinery and Nigeria’s Economy – Daily Trust

The decision of Africa’s richest man, Alhaji Aliko Dangote, to invest about $8 billion in building a crude oil refinery in the country with a capacity to produce around 400,000 barrels a day by late 2016, is receiving boosts from stakeholders in the Nigeria’s economy. At the same time, it is raising the issue of…

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April 9, 2013
Licensees to lose idle oil fields-The Nation

For failing to develop the marginal fields allocated to them since 2003, the beneficiaries may forfeit such assets next year. The Director, Department of Petroleum Resources (DPR), Osten Olorunsola, told The Nation that the marginal fields awarded in the 2003 bid round but left undeveloped till date will be withdrawn by the Federal Government. “Marginal…

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April 9, 2013
Netherlands cautions Nigeria over PIB – Daily Trust

The government of Netherlands has called on the federal government to tread with caution regarding the Petroleum Industry Bill (PIB). Netherlands Ambassador to Nigeria, Mr. Ronhaar drs Berend Jan, made the call in Abuja weekend during an interactive session with Senate President David Mark.

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April 9, 2013
Northerners Accused of Owning 83 Percent of Oil Blocks – The Punch

The sparring between senators over the Petroleum Industry Bill (PIB) got messier Wednesday as Chairman, Senate Committee on Business and Rules, Ita Enang, accused northerners of reaping the benefits of indigenous crude oil exploration and production in the Niger Delta at the expense of indigenes of the area.At the resumption of debate on the bill,…

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April 9, 2013
Real Ownership of Indigenous Oil Blocks Revealed – ThisDay

Contrary to the claim by the Chairman of the Senate Committee on Business and Rules, Senator Ita Enang, last week that 83 per cent of oil blocks in the country are owned by northerners, investigations by THISDAY have revealed that 88 per cent of the oil blocks are owned by multinational oil companies. On the…

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April 9, 2013
Brazilian Oil States Take Royalty War To Supreme Court – Reuters

BRASILIA/RIO DE JANEIRO, March 15 (Reuters) – Brazil’s main oil-producing states asked their country’s Supreme Court on Friday to overturn a new law that strips them of billions of dollars in royalties levied on the output of rich offshore oil fields.The three main oil-producing states, Rio de Janeiro, Espirito Santo and Sao Paulo, filed challenges…

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April 9, 2013
Injustice! How Babangida, Abacha, Obasanjo, Shared Nigeria’s Oil Blocks – IndepthAfrica

The process of sharing Nigeria’s oil block national cake is as fraudulent now as when Ibrahim Babangida started the process of discretionary allocation of oil blocks to indigenous firms. Discretionary allocation of oil blocks entails that a president can reward a mistress who performs wonderfully with an oil block with capacity for cumulative yield of…

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April 9, 2013
DPR to revoke licences of undeveloped Oil Marginal Fields – ThisDay

THE Department of Petroleum Resources (DPR) has given owners of under-developed marginal fields the next one-year to put the fields into production or lose their operating licences granted by the agency.Director of DPR, Osten Olorunsola, who disclosed this at the weekend, at the official launch of a new Oil and Gas online weekly publication tagged…

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