Energy Correspondent, London
Julia's Feed
Aug 14, 2015

Where’s Shekau? Chad president messes with Boko Haram’s mind

ABUJA (Reuters) – If Chadian President Idriss Deby is to be believed, Abubakar Shekau, the bearded and bandoliered leader of Islamist militant group Boko Haram, is no more.

Given the many previous reports of Shekau’s demise, followed soon after by videos of him brandishing automatic weapons and spouting invective against the Nigerian state, analysts and diplomats are treating the claims with caution.

Aug 6, 2015

Shell declares force majeure on Nigerian gas supplies to NLNG

ABUJA, Aug 6 (Reuters) – Shell has declared force
majeure on gas supplies to Nigeria’s LNG export terminal on
Bonny Island in Rivers State due to a pipeline leak, a spokesman
for the company said on Thursday.

The force majeure on gas supplies from SPDC to Nigeria
Liquefied Natural Gas Co (NLNG) was effective from Aug. 4,
spokesman Precious Okolobo said, adding that the company was
investigating the cause of the leak.

Aug 6, 2015

Nigeria cbank acts to curb speculation and support naira

ABUJA, Aug 6 (Reuters) – Nigeria’s central bank has directed
commercial banks to pay for their dollar purchases 48 hours in
advance, after banning them from accepting foreign currency cash
deposits to curb dollar demand and stem illicit financial flows.

Dealers said banks would struggle to buy the U.S currency on
behalf of customers, while the ban on dollar cash deposits would
stem speculation.

Aug 6, 2015

Nigerian lawyer sent in to clean up state oil giant

ABUJA/LAGOS, Aug 6 (Reuters) – The new head of Nigeria’s
state oil company is a workaholic stickler for the rules with a
strong background in law, qualities he will need if he is to
overhaul an organisation notorious for corruption and

Emmanuel Ibe Kachikwu, the new managing director of the
Nigerian National Petroleum Corp (NNPC), was previously
executive vice chairman and general counsel for U.S. oil major

Aug 5, 2015

New head of Nigeria’s state oil company sacks top management

ABUJA, Aug 5 (Reuters) – The new head of Nigeria’s state oil
company has dismissed the firm’s senior managers, two sources at
the company said on Wednesday, barely a day after President
Muhammadu Buhari appointed him as managing director.

“All of the executive directors were let go … Buhari
wanted a clean slate,” one of the dismissed managers said.

Aug 5, 2015

Nigeria’s tanker ban underscores disarray in oil industry

LONDON/ABUJA, Aug 5 (Reuters) – The Nigerian president’s
sudden, unexpected and seemingly unilateral decision to ban
nearly 100 oil tankers from the country’s waters has sown
confusion in the operations of Africa’s largest crude exporter.

The edict directly from President Muhammadu Buhari’s office
appeared to be part of a campaign pledge to crack down on oil
industry corruption and theft.

Jul 14, 2015

“Siege mentality” grips under-fire Nigerian state oil firm

ABUJA, July 14 (Reuters) – The four grey towers that form
the headquarters of Nigeria’s state oil company in the dusty
capital, Abuja, feature tinted windows as opaque as the
organisation inside, accused of failing to account for tens of
billions of dollars.

President Muhammadu Buhari, the 72-year-old sandal-wearing
ascetic who swept to power this year on an anti-corruption
ticket, has made clear he wants to overhaul Nigeria’s oil
industry, starting with the behemoth at its core.

Jul 10, 2015

Nigeria aims to supply 20 pct of gasoline demand itself

ABUJA, July 10 (Reuters) – Major crude oil producer Nigeria
aims to overcome its chaotic and crumbling refining sector to
produce at least a fraction of the gasoline it needs to use

Its state oil company hopes that domestic plants can cover
20 percent of Nigeria’s gasoline needs, the head of refining
told Reuters.

Jun 15, 2015

New Nigerian leaders to meet anti-corruption watchdog head

ABUJA, June 15 (Reuters) – Nigeria’s new leaders will meet
the head of a leading global watchdog on corruption to see how
billions of dollars in oil revenue leakage can be curbed.

The head of Oslo-based the Extractive Industries
Transparency Initiative (EITI) is expected to meet Nigeria’s
president or vice president this week, its local arm said on

Jun 13, 2015

Nigeria starts investigating crude oil swap contracts

ABUJA (Reuters) – Nigerian authorities have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude for refined products, the company, three oil traders and a security source said.   

    The Nigerian government may be losing money through opaque contracts in which crude oil worth billions of dollars is given to traders in exchange for refined imports, mainly gasoline, international and domestic watchdogs have said.