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NIGERIA

Shell seeks rapid SPDC sale despite legal wranglings with NNPC

The British-Dutch major will find it hard to sell its Nigerian subsidiary, SPDC, which is owed $1.2bn by the NNPC and is in dispute with it for more than double that amount. [...] (274 words)

Issue dated 09/12/2021 Reading time 2 minutes

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Energy

Nigerian billionaire Elumelu teams up with Tullow Oil and Gran Tierra in hope for Shell success

The recent sale of the Shell Petroleum Development Co in 2021 is whetting the appetite of many international and national investors. To maximise his chances of obtaining the Anglo-Dutch major's onshore assets, businessman Tony Elumelu is putting together a formidable consortium. [...]

Tony Elumelu, CEO of Heirs Holdings. © Twitter @TonyOElumelu

NIGERIA Energy 13/01/2022

Sylva and Buhari keep Petronor and Panoro waiting on Aje

The Nigerian authorities are dragging their feet on signing the Aje deal and, despite the new petroleum act, doing business in Nigeria remains difficult. [...]

Secretary of State for Petroleum Resources Timipre Sylva and the Nigerian president Muhammadu Buhari. © @HETimipreSylva, @MBuhari/Twitter

Spotlight

NIGERIA Energy 12/01/2022

The ins and outs of ExxonMobil's $2bn sell-off

The US super major is quietly working to unload its marginal assets. It has a long way to go before it succeeds. [...]

Nigeria's Transport Minister Rotimi Amaechi. © Twitter/@MinTransportNG

Spotlight

NIGERIA Infrastructures Politics 14/12/2021

Rotimi Amaechi stakes presidential ambitions on rail expansion

With elections scheduled for 2023, the transport minister is stepping up investments, riding on projects set in motion by the previous government. [...]

NIGERIA Energy 08/12/2021

What next for the $42 million from Galactica Star super-yacht sale?

Enron Nigeria Power Holdings, a subsidiary of the defunct gas giant Enron, still has its eye on part of this sum. [...]

NIGERIA Energy 03/12/2021

Court rules billionnaire Eddy Van Den Broeke owes Baker Hughes $9m

An American court recently confirmed the $9m fine Luxembourg-based International Engineering & Construction must pay its subcontractor Baker Hughes over a failed small-scale LNG project in Nigeria. [...]

Belgian cement magnate Eddy Van Den Broeke. © Ministry of Petroleum Resources, Nigeria/Twitter

Spotlight

NIGERIA Energy 10/11/2021

Why progress is slow on Shell's SPDC sale, the biggest oil deal of 2021/2022 Free

The British-Dutch major is trying to sell its onshore business to concentrate on larger offshore fields. [...]

NIGERIA Diplomacy 08/11/2021

Buhari to bring vast team to Paris in search of economic lifelines

The Nigerian president will be the star of the 11-13 November Paris Peace Forum. He will take advantage of his visit, accompanied by a huge entourage, to organise meetings with the aim of attracting new investors to a country that is experiencing a marked economic downturn. [...]

Nigerian President Muhammadu Buhari. © Ahmed Yosri/Reuters

Nigeria's President Muhammadu Buhari signs Petroleum Industry Bill into law at the state house in Abuja. © Nigeria Presidency/Handout via Reuters

Spotlight

NIGERIA Energy 05/10/2021

Buhari gives key E&P job to Alison-Madueke loyalist

The restructuring of Nigeria's oil institutions, currently in progress, has led to the return of a number of leading figures from the Goodluck Jonathan era. Among them is retired NNPC executive Gbenga Komolafe, who was at his post when Diezani Alison-Madueke was petroleum resources minister. [...]

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Eskom's fate caught up in the clash between Ramaphosa and Mantashe

Shillings, prayers and votes: democracy in a very religious country