Tony Okonedo

Shell Says Improved Security Needed to Curb Nigeria Oil Theft

Nigeria needs to improve security patrols on its pipelines to curb theft, according to Royal Dutch Shell Plc, the nation’s largest oil producer.

Nigerian Report Alleges $37 Billion Oil Underpayments

Nigerian President Goodluck Jonathan received a report today showing Africa’s biggest oil producer may have lost at least $37 billion in revenue over the last decade through underpayments and pledged further investigation.

Nigeria Underpaid by $37 Billion for Oil Assets, Report Shows

Nigeria, Africa’s biggest oil producer, lost at least $37 billion in revenue over the last decade because of underpayments for crude sales, royalties and signature bonuses for oil-exploration concessions, a report prepared for President Goodluck Jonathan showed.

Nigeria Protesters Besiege Shell’s Kolo Creek Logistics Base

Royal Dutch Shell Plc’s Nigerian unit said protesters from four communities in the country’s southern delta besieged the company’s Kolo Creek logistics base and “tampered” with installations.

Jonathan Bolsters Nigerian Rating in Fight Against Unions

Nigerian President Goodluck Jonathan is bolstering the credit rating prospects of Africa’s largest oil producer as he rejects demands from striking workers to reinstate fuel subsidies, Standard & Poor’s said.

Shell Declares Force Majeure on Nigeria Bonny Light Crude Oil Exports

Royal Dutch Shell Plc’s Nigerian unit declared force majeure on its Bonny Light crude oil exports after “several pipeline incidents,” the company said in an e- mailed statement.

Nigeria Seeks Testimony From Shell, Halliburton Over Payments

Nigerian investigators have asked to question officials from Royal Dutch Shell Plc and Halliburton Co. ’s local unit in separate probes of allegedly illegal payments, the country’s financial crimes agency said.

Nigeria’s President to Meet Unions as National Strike Threatens Oil Output

Nigerian President Goodluck Jonathan will meet labor leaders in a bid to end a four-day-old nationwide strike against the lifting of fuel subsidies and avert a shutdown of the oil industry, a union leader said.

Nigerian Fuel Price Strike May Disrupt Shell’s Oil Production, Close Ports

Nigerian workers began a national strike after fuel costs more than doubled, threatening to shut ports and disrupt output from Royal Dutch Shell Plc and Chevron Corp. in Africa’s largest crude producer.

Oil Advances for First Day in Four on Iranian Dispute, Euro Debt Meeting

Oil rose in New York for the first time in four days on growing concern that the dispute between Iran and western governments may lead to a disruption in Middle East crude exports.

"Production deferment over the period has affected the loading program at Bonny Terminal, and SPDC will now have to advise customers of a revised schedule."

- Tony Okonedo on Jun 13, 2011

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