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Shell publishes Annual Report and Accounts

Shell publishes Annual Report and Accounts
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United statesFrance generalUnited kingdomLindam coulterNederlandse aardolie maatschappijShell executive committeeOur government relations departmentNetherlands authority for the financial marketsMattox pipeline companyEuropean unionShell audit committeeParent company financialProduction companyInternational accounting standards boardCompany articles of associationLiquidity forum

Between Debt Recovery and Corporate Bullying

By Rasheed Adigun In the past few weeks, the management of Seplat Petroleum Development Company has been attempting to twist the narrative in its ongoing suit against Access Bank Plc, in a bid to attract public sympathy. Unfortunately, Seplat which has failed to honour its obligation appears not to be bothered about the implication of its bad behaviour on its reputation as a listed company on both the globally-respected London Stock Exchange and one of Africa’s bourse, the Nigerian Stock Exchange. It is disheartening to note that A.B.C Orjiako, the chairman of Seplat Petroleum Development Company; Seplat as a company; Cardinal Drilling Nigeria Limited, another company associated with the businessman, and Kalu Nwosu, Managing Director of Cardinal Drilling Nigeria Limited, through their sponsored articles now view the move by a commercial bank to recovery its legacy debt that had been put at $85.8 million as corporate bullying and a move for hostile takeover!.

United statesUnited kingdomFederal capital territoryAbuja federal capital territoryNigeria generalCity ofJustice rilwan aikawaFrancis chuka agbuKalu nwosuJustice to taiwoKunle ogunbaRasheed adigunCardinal drilling servicesLagos division of the courtAccess bankAsset management corporation of nigeria

Chronic debtor-billionaire ABC Orjiakor subterfuge repaying $150 million loan, owes FG $1 8 billion, 8 8 billion Naira in royalties

Chronic debtor-billionaire ABC Orjiakor subterfuge repaying $150 million loan, owes FG $1 8 billion, 8 8 billion Naira in royalties
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United kingdomCity ofOlusegun agangaKunle ogunbaPascal dozieMuhammadu buhariSaratu umarSeplat oilAccess bankAccess bank is kalu nwosuSeplat petroleumNigerian investment promotion commissionNigerian petroleumBank plcSupreme courtChairman of seplat oil

DPR: REFORM A LA SARKI

The introduction of technology in the nation’s oil and gas industry will enhance transparency and accountability, writes Jackson Onyukwu The Department of Petroleum Resources (DPR), is the statutory regulatory agency for petroleum in Nigeria. Oil is the main foreign exchange earner for the nation. Therefore oil is the fiscal breath of Nigeria. This explains why all eyes are on crude oil. Government officials are watching. Nigerians can’t stop talking crude and its value chain. This places a huge burden on DPR. It must be alert and alive to its duties otherwise the nation loses. From its journey in 1971 functioning with different names under different ministries through 1988 when it was renamed DPR and given full autonomy to regulate the petroleum industry till late 2019, DPR has discharged its responsibility to the best of its ability. But question marks still persisted on its ability and courage to stop the haemorrhage in both the upstream and downstream sectors of the industr

Nigeria generalNiger deltaJackson onyukwuJustice oluremi omowunmi oguntoyinboMuhammadu buhariSarki auwaluInternational oil companies iocsEasternep companyRoyal dutch shell plcNigeria extractive industries transparency initiativeDepartment of petroleum resourcesShell petroleum development company of nigeriaChevron academyShell international tradingGas industry content developmentNigerian oil

Untangling Aiteo, SPDC Oil Theft Saga

Business/ ENERGY For a while, insinuations that certain oil companies operating in Nigeria engage in underhand activities in the process of carrying out their businesses had been rife. Emmanuel Addeh writes that the latest dust raised by Aiteo E&P’s accusation that Shell Petroleum Development Company (SPDC) wilfully carried out unfair dealings against it, has again brought the matter to the fore, highlighting that the indigenous oil concern appears to have a strong case against the international oil giant It started like the usual rumours, mostly unsubstantiated, of how the oil sector is exceptionally dirty, but since documents surfaced about how SPDC allegedly short-changed some local oil firms, it has almost taken the form of a scandal.The bone of contention is that between 2016 and 2018, SPDC putting to use a metering device not approved by the Department of Petroleum Resources (DPR) short-changed local operators, Aiteo, being the hardest hit, to the tune of millions of barrel

Nembe creekNigeria generalJustice oguntoyiboYakubu maikyauSteve okwuosahMike ozekhomeOladapo olanipekunEmeka ozoaniKemi pinheiroOluwakemi obalajaSarki auwaluEmmanuel addehJustice oluremi oguntoyiboMuiz banireInternational oil companyShell petroleum development company