Oil Spills: Nigeria Needs $12bn for Clean Up - Report The Bayelsa State Oil and Environmental Commission has disclosed that Nigeria, would need $12 billion to clean up several years of oil spills in the Niger Delta region. This was revealed in a reports by the...

Italian Court Acquits Eni, Shell Of Corruption In OPL 245 Deal       An Italian court has acquitted Shell and Eni of corruption charges in the $1.1 billion OPL 245 deal in Nigeria. Marco Tremolada, the judge, delivered the decision on Wednesday. Italian prosecutors had alleged corruption in the...

Nigeria’s Fragile Fiscal Regime May Stall $24bn Oil, Gas Projects         With the continued delay in the passage of the Petroleum Industry Bill (PIB) leading to a frigile fiscal regime mired by uncertainty, the African Energy Chamber (AEC), has said Nigeria and other African countries should...

Nigeria To Lose $24bn Oil, Gas Investments In Six Years — AEC         Nigeria will lose $24 billion in investments in the oil and gas sector between 2020 and 2025, due to effects of the COVID-19 pandemic on the global petroleum industry, according to a report...

NNPC Suspends Cash Call Repayment To Italy’s Eni   The Nigerian National Petroleum Corporation (NNPC) has suspended cash call repayments to Italian oil major, Eni, for three months and did not plan to renew some of the firm’s asset licences. NNPC owes billions of dollars to international...

Nigeria’s anti-graft agency on Thursday filed corruption charges against oil majors Shell and Eni over a $1.3 billion offshore block deal. The Economic and Financial Crimes Commission (EFCC) accused 11 defendants of “official corruption”, according to court documents. Shell, Eni and Agip, Eni’s Nigerian subsidiary, are...