Energy Correspondent, London
Julia's Feed
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
itself.

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
Monday.

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.

Jun 11, 2015

Nigeria, neighbours forge anti-Boko Haram force

ABUJA (Reuters) – Nigeria and its neighbours agreed on Thursday to set up a joint military force to counter Boko Haram, a sign of President Muhammadu Buhari’s intent to crush the Islamist militant group early in his tenure.

At a one-day summit at Abuja airport, the 72-year-old former military ruler, who was inaugurated just two weeks ago, welcomed the leaders of Chad and Niger, and the defence minister of Cameroon.

Jun 11, 2015

Nigeria’s Buhari meets peers to hammer out Boko Haram force

ABUJA (Reuters) – New Nigerian President Muhammadu Buhari met his regional counterparts in Abuja on Thursday to set up a joint military force against Boko Haram, the latest sign of his intent to crush the Islamist militant group early in his tenure.

The 72-year-old former military ruler, who was inaugurated just two weeks ago, welcomed the leaders of neighboring Chad, Niger and Benin for the impromptu one-day summit at Abuja airport. Cameroon sent its defense minister.

Jun 2, 2015

Buhari expected to keep oil portfolio for himself in new Nigeria cabinet

ABUJA, June 2 (Reuters) – President Muhammadu Buhari is
likely to keep the oil portfolio for himself in the new Nigerian
cabinet, rather than trust anyone else with the source of most
of Nigeria’s revenue and traditional fount of corruption,
associates say.

Nigeria’s oil sector is so dirty that nobody’s hands are
clean enough to do the “surgical changes” needed, one
long-standing associate told Reuters on condition of anonymity
because the cabinet decision is still under wraps.

May 30, 2015

New Nigerian president seeks to crush ‘godless’ Boko Haram

ABUJA (Reuters) – New Nigerian President Muhammadu Buhari promised on Friday to eradicate the “mindless, godless” militants of Boko Haram and rescue hundreds of women and children held captive, including 200 girls taken from the town of Chibok a year ago.

In his inaugural address as elected leader of Africa’s most populous nation and biggest oil producer, Buhari also painted a picture of an economy in crisis after a collapse in the price of crude, which accounts for the bulk of state revenue.

May 29, 2015

New Nigerian president vows to crush “godless” Boko Haram

ABUJA, May 29 (Reuters) – New Nigerian President Muhammadu
Buhari vowed on Friday to eradicate the “mindless, godless”
militant group Boko Haram and rescue hundreds of women and
children held captive, including 200 girls taken from the town
of Chibok a year ago.

In his inaugural address as elected leader of Africa’s most
populous nation and biggest oil producer, Buhari also painted a
picture of an economy in crisis after a collapse in the price of
crude, which accounts for the bulk of state revenue.

May 29, 2015

Nigeria starts new chapter as Buhari sworn in

ABUJA, May 29 (Reuters) – Three decades after he first came
to power in a military coup, Muhammadu Buhari was sworn in on
Friday as elected President of Nigeria, giving him control of an
African giant struggling with slowing economic growth and a
raging Islamist insurgency.

Dressed in traditional Muslim attire, the 72-year-old
general stood on the stage clutching a Koran in his right hand
as he pledged to “preserve, protect and defend” the constitution
of Africa’s most populous nation.