Your account has been succesfully created.

Subscribe now

Spotlight

NIGERIA

Some applaud and others lament Madueke’s departure

Muhammadu Buhari’s victory in Nigeria’s recent presidential election will result in the departure a strongest card in outgoing president Goodluck Jonathan’s hand: the controversial petroleum resources minister Diezani Alison-Madueke. While some traders who became oil explorers raked in riches during [...] (637 words)

Issue dated 14/04/2015 Reading time 3 minutes

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

e-wallet

from EUR/USD 50

Only buy articles you are interested in

ANNUAL SUBSCRIPTION

Unlimited access to the website

See our rates

Choose the option that suits you best: Compare all of our offers!

Do you want a free trial before subscribing?

Create your free account

Do you want a free trial before subscribing?

create a free account

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

e-wallet

from EUR/USD 50

Only buy articles you are interested in

ANNUAL SUBSCRIPTION

Unlimited access to the website

See our rates

Choose the option that suits you best: Compare all of our offers!

Do you want a free trial before subscribing?

Create your free account

Do you want a free trial before subscribing?

create a free account

Energy

Set up email notifications for these topics

NIGERIA
Aiteo
Amsterdam & Partners
Benedict Peters
Crestar
Department of Petroleum Resources
Diezani Alison-Madueke
ENI
Goodluck Jonathan
MEND
Muhammadu Buhari
NNPC
Olusegun Obasanjo
Osten Olorunsola
Robert Amsterdam
Sahara Energy
Shell
Sinopec
Stephen Shefsky
Taleveras
Tempo Energy
Tonye Cole
Total

AFC, Ecobank and Shell loan for OML 29, a $2bn thorn in Aiteo's side

The Nigerian billionaire Benedict Peters' Aiteo is being hounded by its creditors wanting payment on a massive loan it took out in 2014 to purchase OML 29. All attempts at an amicable settlement have failed after many lengthy delays, mostly due to the pandemic.

NIGERIA Energy 03/12/2020

Buhari to finally announce marginal field winners

The Nigerian president Muhammadu Buhari has finally appended his signature to the document listing the local - and international companies as a partner - chosen to operate one of the blocks covered by the tender call issued in June.

NIGERIA UNITED STATES Energy Diplomacy 02/10/2020

Oil magnate Benedict Peters banks on lobbyist David Urban to win over Trump

The Nigerian Benedict Peters has retained the services of David Urban, a star lobbyist in Trump's Washington, in the hope of winning the favours of the current occupant of the White House. By cosying up to Trump on his favourite terrain - the trade war against Beijing - Peters is hoping that the president will help him to regain his influence in Nigeria, though he may find himself back at square one if Biden prevails in November.

Spotlight

NIGERIA Energy 01/07/2020

Marginal fields: who among Buhari's buddies can help bidders win over DPR?

Junior oil firms flocked in their hundreds to bid for one of the 57 marginal fields put up for sale by the Abuja authorities to avoid a financial debacle as the Covid-19 crisis continues.

NIGERIA UNITED STATES Energy 25/05/2020

Benedict Peters teams up with arch-conservative Steve Bannon to cosy up to Buhari

Nigerian billionnaire Benedict Peters has joined a conservative lobby group that's very close to the White House. His aim is to make himself indispensable to Abuja, which has blacklisted him.

NIGERIA Energy 14/05/2020

Oil minister Sylva works behind scenes for quick sale of Shell, Exxon, Chevron, Total marginal fields

Nigeria has finally embarked on a sell-off of oil fields no longer wanted by oil majors, but the timing is terrible.

Minister of State for Petroleum Timipre Sylva.

The Galactica Star. The proceeds of the yacht's sale are claimed by Nigeria, the US and former Enron men. © Heesen Yachts

In Focus

NIGERIA Energy 11/05/2020

The ghost of Enron returns to haunt yacht once owned by former oil minister Alison-Madueke's trader pals

The Galactica Star super-yacht was a symbol of the excesses of former Nigerian oil minister Alison-Madueke, who Nigeria is trying to have extradited from London. It is now at the heart of a battle between Washington, Abuja and a surprise ghost from the past, former Enron group subsidiary Enron Nigeria Power Holdings.

NIGERIA Energy 17/03/2020

The workings of billionaire Benedict Peters' expanding galaxy

Nigerian business tycoon Benedict Peters, the founder and chairman of Aiteo, has created a web of entities to run his ever-more diverse portfolio of businesses.

NIGERIA Energy 03/03/2020

OML 29: Aiteo's Benedict Peters left in the lurch by IS45

After the departure of his long-term partner, the billionaire has been forced to find new service firms to work with.

NIGERIA Energy 21/01/2020

After P&ID, Judge Ekwo to hear Rivers/Bayelsa battle for Shell's disputed Soku wells

The federal high court magistrate Inyang Ekwo's December ruling for the disputed Soku oil wells to be returned to the

NIGERIA Energy 07/01/2020

NLNG Train 7 project saves Buhari's non-existent oil & gas record

NLNG was put under immense pressure to get the first large-scale oil project that the current government would have achieved after five years in power launched before 2020.

Spotlight

NIGERIA Energy 03/12/2019

Project Star: Chevron's stealth mission to raise the bids for OMLs 86 and 88

Taking a page from ExxonMobil's book (AEI 851), Chevron would like to trim its Nigerian portfolio by divesting from secondary or aging assets. The plan is to sell these to local firms with enough connections for the Department of Petroleum

ANGOLA Energy 19/11/2019

Total and ENI cruise on to Namibe basin, Aiteo and Amni stuck at the gate

The Angolan licensing round for hydrocarbon exploration in the Namibe

Spotlight

NIGERIA Energy 22/10/2019

ExxonMobil: why the transfer of its marginal fields could be in jeopardy

As we revealed, over the past few months ExxonMobil has quietly been testing the waters with Nigerian firms to see if they could be interested in several Niger Delta assets it would like to sell.

NIGERIA Energy 09/07/2019

Buhari's Kyari duo settle on pick of oil firms to sell NNPC crude

The award of oil allocations has dealt a new hand to the Nigerian traders.

NIGERIA Energy 09/04/2019

Swap deals: Kachikwu's great refinery failure

This could be the last days at the ministry for the secretary of state. If he does go, one of his biggest regrets will be Nigerian traders are still hooked on swap deals.

Spotlight

NIGERIA Energy 12/03/2019

OML 29: how Aiteo's Benedict Peters charmed his creditors and the DPR

Africa Energy Intelligence reveals how trading house Aiteo founder, Benedict Peters, has cleared the air over his prized OML 29 bought from Shell for $2.58 billion in the oil-rich state of Bayelsa. Accra was the place to be - The

NIGERIA Energy 12/02/2019

WalterSmith offers itself former Shell/DPR man Osten Olorunsola

Former upstream international vice president for Shell, a company with which he spent the formative years of his career, Osten

NIGERIA Energy 12/02/2019

Aiteo questions path ahead with OML 29 expiry looming

Once the country's favourite oil man during the Goodluck Jonathan years, Benedict Peters now needs to quickly rustle together funds to pay off his creditors and the Nigerian state.

NIGERIA Mining 08/01/2019

Aiteo's energy boss Ransome Owan branches out into mines via Bravura

Nigerian hydrocarbon conglomerate Aiteo's group managing director in charge of power, infrastructure and real estate, Ransome Owan also has a

NIGERIA Energy 13/11/2018

Who are part of Aiteo boss Benedict Peters' inner circle?

Founder and chairman of Nigerian trading firm Aiteo, operator of the highly prolific OML 29 in the Niger delta, Benedict

Spotlight

NIGERIA Energy 13/11/2018

Aiteo boss Benedict Peters steps up to handle crippling debt

Trading house Aiteo, which had prospered under Goodluck Jonathan's tenure, has recently had to start making hefty repayments to creditors that had helped the firm buy the giant OML 29. Aiteo founder and CEO, Nigerian businessman Benedict Peters, is using

NIGERIA Energy 30/10/2018

Could Bumi recover its dues through Erin's oil?

The American courts have rekindled the Malaysian junior's hope of obtaining its claim for several million dollars from its former partner.

DRC Energy 30/10/2018

Mwamini Thambwe, the well-connected Aiteo's representative

Nigerian oil firm Aiteo first opened an office in the

NIGERIA Energy 02/10/2018

Under pressure in delta, Buhari pushes forward with NLNG train 7

The CEO of the joint venture NLNG (Shell, Total, Eni, NNPC), Tony Attah (former board member of Shell Nigeria) has

NIGERIA Energy 18/09/2018

Shell makes ready to sell OML 25 all over again

Following its aborted 2014 sale, OML 25, has fallen back in Shell's hands and the oil major is happy to take its time in finding a new buyer.

GHANA Energy 05/06/2018

Springfield uses extensive connections to get noticed by ENI

Springfield Group, operator of West Cape Three Points Block 2 (WCTP2) since 2016, is hoping to finance a well this

NIGERIA Energy 06/02/2018

NLNG: pace picks up for future seventh train

In anticipation of the final investment decision for the future

NIGERIA Energy 24/10/2017

French oil team to travel to lagos and abuja

The French employers' organisation Medef is planning a visit to

NIGERIA Energy 24/10/2017

Marginal fields reserved to appease locals

The Department of Petroleum Resources (DPR), a unit of the

NIGERIA Energy 24/10/2017

Why does Aiteo need to hire Bruce Burrows?

The trading firm, facing high financial exposure, is rallying round to quickly find partners on its OML 29.

AFRICA Energy 26/09/2017

IELAG aims to become leading oil advisor

The fledgling International Energy Law - Advisory Group (IELAG), formed

AFRICA Mining 18/07/2017

Influential Robert Amsterdam on the hunt for mining conflicts

Lawyer Robert Amsterdam, whose prestigious clients included former Yukos boss

AFRICA Energy 30/05/2017

Ratko Knezevic, Aiteo’s new ticket to expand across continent

Having retreated to Nigeria since the end of Goodluck Jonathan’s

NIGERIA Energy 16/05/2017

Exclusive: Buhari's shortlist of swap magnates

Not yet an official list, here are the names of the local and foreign traders shortlisted to receive crude in exchange for petroleum products.

NIGERIA Energy 02/05/2017

Kachikwu banking its very survival on marginal fields

With output at half-mast and majors clipping their investments, the future call for tenders on marginal fields is the Nigerian oil state minister’s last chance to save his post.

NIGERIA Energy 11/04/2017

OML 25: who will help Crestar pay Shell?

Successful bidder for OML 25, Crestar, is still short on funds to buy out Shell’s stake in the block. At loggerheads with its Nigerian partner, Crestar is on the hunt for new investors.

Spotlight

AFRICA Energy 14/03/2017

Sahara Energy makes its contacts work all over Africa

Sahara Energy, which has been a trading institution in Nigeria for the last 20 years, has succeeded in becoming a key player in trading in crude oil and products in numerous African countries. The two leaders of this rapid ascension,

NIGERIA Energy 28/02/2017

Once-favoured Taleveras struggles to keep afloat

After flourishing during the rule of former president Goodluck Jonathan, Nigerian trader Igho Sanomi has been forced to shake up his firm.

NIGERIA Energy 31/01/2017

Who are the newcomers tapped by NNPC for crude trading ?

As Africa Energy Intelligence reported in its last issue (AEI 785), several traders appeared for the first time on a

NIGERIA Energy 17/01/2017

India holds pride of place in NNPC's crude allocations

Since Nigeria’s exports of crude to the United States came

Spotlight

NIGERIA Energy 17/01/2017

How Buhari hands NNPC's crude to those in his debt

In addition to international groups like Glencore, Trafigura, Total and BP, the list of 18 Nigerian firms that won allocations of NNPC’s crude - 32,000 bpd or one cargo per month - for 2017/2018 looks like a clever geopolitical share-out

NIGERIA Energy 18/10/2016

Simbi Kesiye Wabote, a potential bugbear of ENI on OPL 245

The appointment of Simbi Kesiye Wabote as the new executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB)

NIGERIA Energy 18/10/2016

Taleveras empire challenged in New York courtroom

A case concerning unpaid bills by the Taleveras group led to a sharp assault on its boss, Nigeria’s Igho Sanomi.

NIGERIA Energy 18/10/2016

Aiteo's empire dismantled piece by piece

In a precarious position both financially and with regards the law, Nigerian businessman Benedict Peters is seeking to sell off some of his assets.

NIGERIA Energy 26/01/2016

Monthly swap seen as Buhari’s antidote to shortfalls

To avoid placing all gasoline import contracts in the same hands the Nigerian president has inaugurated a new kind of short-term contract.

NIGERIA Energy 13/10/2015

The legal headaches start for Alison-Madueke and cronies

President Goodluck Jonathan’s former petroleum resources minister is being targeted by a legal action in Britain. Her Nigerian friends are biting their fingernails.

NIGERIA Energy 15/09/2015

Stripped of swap contracts, Sahara Group needs fresh cash

In order to acquire new acreage in Nigeria and boost its production, Sahara Group plans to list on the London

NIGERIA Energy 01/09/2015

Winners and losers in NNPC swap deals

In step with one of the priorities of Nigeria’s president Muhammadu Buhari, contracts that had allowed for cargoes of crude

Spotlight

NIGERIA Energy 01/09/2015

Fresh team raring to go on the oil front

President Muhammadu Buhari’s first oil industry appointments in August targeted the management of NNPC and they ought to delight oil companies which had been waiting impatiently for changes at the top. The new executives, picked with their regional origins carefully

NIGERIA Energy 28/07/2015

Ziakede Akpobolokemi, a new Ijaw fired by Buhari

Members of the Ijaw ethnic community who were appointed under president Goodluck Jonathan (himself a member of the community based

NIGERIA Energy 28/07/2015

Total disavows Elisabeth Proust and team

Head of the French major Total's operation in Nigeria since 2014 - she replaced Guy Maurice who became chief of

NIGERIA Energy 28/07/2015

MEND’s leaders turn up heat on Buhari

The cancellation of maritime security contracts since Muhammadu Buhari came

NIGERIA Energy 14/07/2015

Buhari puts swap contracts and NNPC under microscope

The new Nigerian president doesn’t trust the audit reports issued by the previous government and wants everybody to know it.

NIGERIA Energy 16/06/2015

Aiteo hopes for Muhammadu Buhari's indulgence

The company headed by businessman Benedict Peters isn’t quite certain how to proceed in Nigeria’s new political environment. On one

NIGERIA Energy 16/06/2015

The lawmaker who wanted to save Alison-Madueke

Nigerian lawyer Muraina Ajibola, who lost his seat in Nigeria’s parliament for Ibarapa Centre and North (in Oyo state) in

NIGERIA Energy 02/06/2015

Madueke resolves thorny issues at last moment

Before leaving her job to a successor, Nigeria’s powerful petroleum resources minister snubbed her friends. Here’s why.

NIGERIA Energy 19/05/2015

Tonye Cole joins anti-corruption drive

Tonye Cole, boss of Nigeria’s Sahara Group, has attended the World Economic Forum (WEF) for the past two years and

NIGERIA Energy 05/05/2015

Shell and Chevron renew their onshore licenses

One of the last decisions by the out-going oil minister reportedly resolved an issue on extending licenses that had been dragging on for years.

NIGERIA Energy 17/02/2015

OML 25: Crestar wins a round

Ruling on a suit filed last year by Crestar Integrated

NIGERIA Energy 03/02/2015

Crestar launches frontal assault on NNPC and ministry

Under pressure from the oil ministry, Shell has rejected a move by Crestar to acquire its shares on OML 25. The Nigerian firm hasn’t taken that lying down and is mounting a counter-attack.

Spotlight

NIGERIA Energy 03/02/2015

Who are the lucky winners in swap contract lottery?

Largely unnoticed in Nigeria where the media and politicians are riveted on the presidential election on Feb. 14, a unit of the Nigerian National Petroleum Corp (NNPC), Pipelines and Product Marketing Co (PPMC) renewed swap contracts in early January that

NIGERIA Energy 18/11/2014

Exxon takes over operatorship on Usan from Total Free

After the failure of its operation with Sinopec, France’s Total still finds itself with a 20% stake on OML 138 to sell, and minus the role of operator.

Spotlight

NIGERIA Energy 04/11/2014

Set up email notifications for these topics

NIGERIA
Aiteo
Amsterdam & Partners
Benedict Peters
Crestar
Department of Petroleum Resources
Diezani Alison-Madueke
ENI
Goodluck Jonathan
MEND
Muhammadu Buhari
NNPC
Olusegun Obasanjo
Osten Olorunsola
Robert Amsterdam
Sahara Energy
Shell
Sinopec
Stephen Shefsky
Taleveras
Tempo Energy
Tonye Cole
Total

Once registered, you will be notified by a short message on your computer or mobile phone as soon as a new edition of our publication or an alert is published. Stay informed anytime, anywhere!

Algerian secret services in survival mode in North Mali

As fight against M23 continues, Kigali and Kinshasa wage war of intelligence

William Ruto's new order

Africa in the Russia-Ukraine war

The Sahel threatened by a jihadist tornado

Some applaud and others lament Madueke’s departure

This article may be accessed by subscribers and e-wallet holders (USD 19.50)

2 options offered to continue reading

Create your free account

create a free account

Set up email notifications for these topics

AFC, Ecobank and Shell loan for OML 29, a $2bn thorn in Aiteo's side

Buhari to finally announce marginal field winners

Oil magnate Benedict Peters banks on lobbyist David Urban to win over Trump

Marginal fields: who among Buhari's buddies can help bidders win over DPR?

Benedict Peters teams up with arch-conservative Steve Bannon to cosy up to Buhari

Oil minister Sylva works behind scenes for quick sale of Shell, Exxon, Chevron, Total marginal fields

The ghost of Enron returns to haunt yacht once owned by former oil minister Alison-Madueke's trader pals

The workings of billionaire Benedict Peters' expanding galaxy

OML 29: Aiteo's Benedict Peters left in the lurch by IS45

After P&ID, Judge Ekwo to hear Rivers/Bayelsa battle for Shell's disputed Soku wells

NLNG Train 7 project saves Buhari's non-existent oil & gas record

Project Star: Chevron's stealth mission to raise the bids for OMLs 86 and 88

Total and ENI cruise on to Namibe basin, Aiteo and Amni stuck at the gate

ExxonMobil: why the transfer of its marginal fields could be in jeopardy

Buhari's Kyari duo settle on pick of oil firms to sell NNPC crude

Swap deals: Kachikwu's great refinery failure

OML 29: how Aiteo's Benedict Peters charmed his creditors and the DPR

WalterSmith offers itself former Shell/DPR man Osten Olorunsola

Aiteo questions path ahead with OML 29 expiry looming

Aiteo's energy boss Ransome Owan branches out into mines via Bravura

Who are part of Aiteo boss Benedict Peters' inner circle?

Aiteo boss Benedict Peters steps up to handle crippling debt

Could Bumi recover its dues through Erin's oil?

Mwamini Thambwe, the well-connected Aiteo's representative

Under pressure in delta, Buhari pushes forward with NLNG train 7

Shell makes ready to sell OML 25 all over again

Springfield uses extensive connections to get noticed by ENI

NLNG: pace picks up for future seventh train

French oil team to travel to lagos and abuja

Marginal fields reserved to appease locals

Why does Aiteo need to hire Bruce Burrows?

IELAG aims to become leading oil advisor

Influential Robert Amsterdam on the hunt for mining conflicts

Ratko Knezevic, Aiteo’s new ticket to expand across continent

Exclusive: Buhari's shortlist of swap magnates

Kachikwu banking its very survival on marginal fields

OML 25: who will help Crestar pay Shell?

Sahara Energy makes its contacts work all over Africa

Once-favoured Taleveras struggles to keep afloat

Who are the newcomers tapped by NNPC for crude trading ?

India holds pride of place in NNPC's crude allocations

How Buhari hands NNPC's crude to those in his debt

Simbi Kesiye Wabote, a potential bugbear of ENI on OPL 245

Taleveras empire challenged in New York courtroom

Aiteo's empire dismantled piece by piece

Monthly swap seen as Buhari’s antidote to shortfalls

The legal headaches start for Alison-Madueke and cronies

Stripped of swap contracts, Sahara Group needs fresh cash

Winners and losers in NNPC swap deals

Fresh team raring to go on the oil front

Ziakede Akpobolokemi, a new Ijaw fired by Buhari

Total disavows Elisabeth Proust and team

MEND’s leaders turn up heat on Buhari

Buhari puts swap contracts and NNPC under microscope

Aiteo hopes for Muhammadu Buhari's indulgence

The lawmaker who wanted to save Alison-Madueke

Madueke resolves thorny issues at last moment

Tonye Cole joins anti-corruption drive

Shell and Chevron renew their onshore licenses

OML 25: Crestar wins a round

Crestar launches frontal assault on NNPC and ministry

Who are the lucky winners in swap contract lottery?

Exxon takes over operatorship on Usan from Total Free

Uncertainty over Shell's marginal fields

Diezani Alison Madueke

Diezani Alison-Madueke

Diezani Alison-Madueke

Atlantic Energy a popular firm

Alison-Madueke’s crusade Free