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Nigeria Wins Back Africa’s Biggest Oil Field

AFRICANGLOBE - Nineteen years after it was first awarded to a controversial firm, OPL 245 has reverted back to the federal government. The block, considered the richest in Africa, is estimated to contain over 9 billion barrels of crude and even larger volume of gas reserves.

Nigeria Says Shell Should Pay $4 bln For 2011 Oil Spill

AFRICANGLOBE - Nigeria's National Assembly said on Wednesday oil major Shell should pay $3.96 billion for a 2011 spill at its offshore Bonga oilfield in the latest assessment of damage to the environment. The non-binding decision comes after years of analysis by various Nigerian state agencies, which have proposed a range of fines as high as $11.5 billion.

Shell Not Cleaning Oil Pollution In Nigeria – Report

AFRICANGLOBE - Little action has been taken to clean up pollution caused by oil production in Nigeria's Niger Delta region, either by the government or Shell Oil.

Africa’s Richest Man Bids For Shell Nigerian Asset

AFRICANGLOBE - Africa’s richest man, Aliko Dangote, is planning to acquire a stake in a Nigerian gas field owned by Anglo-Dutch multinational energy giant Shell. According to a report by Africa Intelligence, Dangote Industries submitted the highest bid for Shell’s stake in Oil Mining Lease (OML) 18 at an auction organized last year in the Niger Delta region.

Nigerian Companies Buying Up Foreign Owned Oil Fields

AFRICANGLOBE - United States giant Chevron has become the latest oil company to sell a major stake to Nigerian companies as uncertainty over security continues to worry investors.

U.S. Court Dismisses Nigeria Torture Case Against Shell

AFRICANGLOBE -The U.S. Supreme Court has dismissed a lawsuit against the Royal Dutch Shell Petroleum Company brought human rights victims. The ruling, which was handed down Wednesday, is seen as a serious setback for the Ogoni community in the Niger Delta

Shell Case Shows Failure of Nigerian Judiciary

AFRICANGLOBE - The decision by The Hague over Shell's liability for polluting in the Niger Delta shows that justice is possible - but it is extremely hard to achieve if you are taking on a massive multinational, says Amnesty International's Africa programme director Audrey Gaughran.

Nigerian Law Suit Against Shell Opens in the Hague

AFRICANGLOBE - Anglo-Dutch oil giant, Shell is to appear in a Dutch court to account for alleged environmental pollution in Nigeria, environmental rights group, Friends of the Earth International has said.

Shell to Invest $4 Billion in Two Oil and Gas Projects...

Royal Dutch Shell Plc, operator of Shell Petroleum Development Company (SPDC) of Nigeria, Thursday said it would invest about $4 billion with its joint...

Nigerian Government Approves U.S.$5 Billion Fine Against Shell

Nigeria's Federal Government has given approval for the collection of a $5billion administrative fine imposed on the Shell Nigeria Exploration and Production Company, SNEPCo,...

Nigeria Fines Shell U.S.$5 Billion for Oil Spill

The Shell Nigeria Exploration and Production Company, SNEPCO, has been fined U.S.$5 billion over the massive oil spill that occurred at its Bonga oil...

Could Abolishing Tax Havens Solve Africa’s Financing Needs?

AFRICANGLOBE - The past month, the spotlight has been on James Ibori, the governor of Nigeria's Delta state from 1999 to 2007, who pleaded guilty in a London court to 10 counts relating to conspiracy to launder funds from the state he governed. Ibori was accused of siphoning off an estimated $250m and laundering it in London through a number of offshore companies and financial intermediaries to fund his extravagant lifestyle of lavish mansions, expensive cars and private jets.

Nigerian President Accuses Shell of Polluting Niger Delta

President Goodluck Jonathan has expressed deep concern over environmental pollution in the Niger Delta owing to oil exploration and asked Shell Petroleum Development Company...

Nigeria Loses Billions Daily to Oil Theft – Shell

Anglo-Dutch Shell, said yesterday, that Nigeria was losing N2.9 billion daily to oil theft. Regional Executive Vice President, Sub-Sahara Africa, Shell Upstream, Mr. Ian Craig,...

Nigerian Consortium Buys Stake in Two Oil Blocks

A Nigerian firm backed by Britain's Afren and a mainly local consortium have bought major stakes in onshore oil blocks from Shell, Total and Agip for more than $700 million, officials announced Thursday.

Shell Sets Sights On Ghana’s Oil Reserves

AFRICANGLOBE - Ever since Ghana discovered commercial quantities of oil in June 2007 and began commercial production December 15, 2010, many oil companies have expressed interest in the country's reserves of 'black gold'.