•Alia and Ortom The Governor of Benue State, Hyacinth Alia, has begun the probe of former governor Samuel Ortom over government assets under his care from May 29, 2015, to May 28, 2023. As part of the probe, the governor has constituted two commissions of inquiries on income and expenditure, including contract awards, bailout funds […]...
Oil-producing communities in Niger Delta have threatened to sue Shell Petroleum Development Commission, SPDC, if it insists on selling off its $2.4 billion offshore assets without meeting the basic demands of the Niger Delta people. The mineral-bearing communities said it would not hesitate to drag the oil company to court if it fails to respo...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has rejected the planned sale of Shell’s onshore assets, claiming the group being speculated to buy up the assets is unknown to it. On January 16, Shell said it would sell its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), for a [...
Some environmentalists have called on the Tinubu-led federal government to immediately stop Shell from executing the planned divestment and sale of its Nigerian onshore subsidiary. The Frontier reports that, pending approval by the federal government, on Monday, Shell announced on its website and social media platform X that it had reached an ...
Global oil giant, Shell, operating in Nigeria as Shell Petroleum Development Company (SPDC), yesterday announced the sale of its $1.2 billion onshore oilfields and gas assets to Renaissance, a consortium of five companies. The five Nigerian companies with footprints in oil exploration and production are; ND Western, Aradel Energy, First E&...
Against the backdrop of more exits from ground operations in Nigeria by more multinational companies, Nigeria’s economy is expected to lose $335 million (about N310bn) in Foreign Direct Investments, FDI. The amount represents the combined asset value of the two latest exit announcements by Procter & Gamble, P&G, a major global player i...