NewsOil and Gas More than 11,000 Nigerians from the oil-producing Niger Delta region have filed a compensation claim against Shell at the London High Court. The case filed on Thursday by UK law firm Leigh […]
NewsBanks Britain’s financial watchdog has fined the UK subsidiary of Nigeria’s Guaranty Trust Bank 7.6 million pounds ($9.3m) for what it says are further failures in its anti-money-laundering systems and controls. “These weaknesses were repeatedly […]
Rebound in Nigerian production sends OPEC production higher in December. The group of producers noted a 120,000 bpd rise in production last month according to Reuters. In December, OPEC pumped 29 million bpd. A rebound […]
Shell will pay 15 million euros ($15.9m) to communities in Nigeria that were affected by multiple oil pipeline leaks in the Niger Delta, the oil company has announced. “The settlement is on a no admission […]
The old saying among foreign investors that “if you are not in Nigeria, you are not in oil business” is increasingly being confined to the past as several international oil majors have excluded Africa’s biggest […]
A staggering number of Nigerians love Bitcoin, but hate government cryptocurrency (CBDCs). In April, leading cryptocurrency exchange KuCoin noted that 35% of the adult population in Nigeria – roughly 34 million adults aged 18-60, own […]
Nigeria has launched newly designed currency notes, a move that the West African nation’s central bank says will help curb inflation and money laundering. Experts, however, are sceptical about such results in a country that […]
Nigeria’s 206 trillion cubic feet (Tcf) of proven natural gas is only 12 percent of Russia’s 1,688 Tcf, and European energy giant hauls home over $400m daily in gas sales to Europe. Nigeria could be […]
NewsOil and Gas An appeals court in Milan has rejected Nigeria’s $1.1bn compensation request against Italian energy group Eni and British oil and gas company Shell in civil proceedings relating to a $1.3bn oilfield deal. […]
Nigeria’s police say they are boosting security as the United States ordered the families of diplomats to leave the capital, Abuja, due to a “heightened risk of terrorist attacks”. The details of any threat were […]
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