View
By Tife Owolabi and Libby George LAGOS/LONDON, Nigeria (Reuters) - Royal Dutch Shell has shut down an Escravos crude oil flow station in Nigeria's Niger Delta after villagers demanding aid staged a protest, the firm and residents said on Wednesday. In another blow to the oil major, the Niger Delta Avengers (NDA) militant group said it had attacked the Forcados crude export line. Shell said the flow station on the pipeline operated by its joint-venture partner SPDC was no longer processing crude oil, but the impact on Escravos exports, which can run via other routes, was not immediately clear. Protest leader Shyne Edema said his group was demonstrating at the facility, shutting down power and water supplies as well as crude production, to press Shell into providing aid. This is a common refrain in the neglected region that provides much of Nigeria's oil output. "Today is the eighth day of the protest," he said. "We have laid siege at the facility from dusk to dawn since then. We are there now as I speak." He said the protesters complained about Shell's "neglect of its social responsibility of providing good roads, water and electricity for its host communities where none of these things exist."
Plutus is pleased to confirm that it operated its Plymouth site in support of the national grid for the first time on 8 November 2016. Great news and hopefully just the start. Another small rise in the SP again today.
Blast hits oil pipeline feeding Forcados terminal in Nigeria's Delta Tue Nov 8, 2016 3:16pm (Adds NNPC comment) By Tife Owolabi and Alexis Akwagyiram LAGOS Nov 8 (Reuters) - A blast on Tuesday rocked a pipeline operated by Nigeria's state-run oil firm that feeds the Forcados terminal in the southern Niger Delta energy hub, a spokesman for Nigerian National Petroleum Corp (NNPC) said. The explosion occurred while the pipeline was being repaired following an attack last week, NNPC spokesman Garba Deen Muhammad said. A week ago, community leaders from the restive region, the source of most of Nigeria's oil, met the president and asked him to pull the army out of the energy hub, order oil firms to move headquarters there and spend more on development to end militancy in the region. "Militants bombed major contractors' equipment at Eresigbene along the Trans Forcados Pipeline," said Muhammad, who added that the attack took place shortly before 12:30 a.m. (2330 GMT). The NNPC spokesman said some equipment used by the contractors - including a barge and crane - had sunk. The repairs were being carried out following an attack at the same location, near the southern city of Warri, last week. Last week's attack forced the closure of the Trans Forcados Pipeline, the main contributor to the Forcados crude stream, cutting the OPEC member's oil production by at least 200,000 barrels per day (bpd). "There was a serious fire and most people working narrowly escaped being shot by the gunmen, who opened fire on them," said a community leader, who did not want to be identified, describing the latest attack. He said the attack happened because "the boys claimed they were not happy" that repair work was being carried out.
Hedging after costs $91.50. 2 months left this year at 215k barrels and 12 months at 236k. I'll leave u to do the maths.......should read 2 months at 236k and twelve months at 336k.
In April 2016, production levels at OML 18 were approximately twice that originally forecast when the hedge and RBL were put in place and as such it is expected that Eroton will meet the covenants and repayment profile of the RBL. At a meeting of the lenders of the RBL, it was agreed that 60 per cent. of available funds after payment of interest and repayments can, subject to certain conditions, be distributed as dividends to Eroton's shareholders. Such conditions are expected to be satisfied by the end of Q1 2017.
The findings of the Court of Arbitration were received by the Company on Saturday 23rd May 2015, and provide for a total payment by Aurelian Oil & Gas (a subsidiary of San Leon plc) of approximately GBP13 million including costs........ An expensive argument to lose.
Hedging after costs $91.50. 2 months left this year at 215k barrels and 12 months at 236k. I'll leave u to do the maths
But militant groups from the region expressed dissatisfaction over the weekend, in the outcome of the peace meeting and said they had little or no hope about Buhari meeting demands put forward by region's leaders. The Niger Delta Greenland Justice Mandate, one of the various militant groups that have sprung up in the delta, earlier on Saturday disassociated itself from the peace meeting and threatened to launch further attacks on oil installations that would bring Nigerian production to 500,000 b/d. The group in a statement claimed responsibility for the November 2 bombing of the Trans-Forcados pipeline, which transports the popular export grade Forcados. "The destruction of the Trans-Forcados Pipeline is just a warning. That shadow operation that brought the [pipeline] down was only meant to let these companies know that we aren't kidding with them," the militant group said. The self-styled Niger Delta Avengers, or NDA -- the group responsible for most of the attacks on oil facilities that slashed Nigeria's output to nearly 30-years low -- said Sunday they had added further demands to the 16-point demands submitted by the leaders, including immediate take off of a Maritime University in the Niger Delta, the immediate withdrawal of troops in the region and involvement of international negotiators in the peace negotiations. "Let Buhari be advised to come down [to the Niger Delta region] ... to set the federal government dialogue and negotiations team with neutral international observers and representatives of International Oil Companies," the NDA said. The upsurge in militancy in the delta region since the beginning of this year, cut Nigeria's oil production by over 700,000 b/d and at a point, left four Nigerian crude export grades -- Qua Iboe, Bonny Light, Brass River and Forcados -- under force majeure.
Mart Resources, Delta Oil terminate business agreement 22 December 2015, Lagos – Barely three months after Toronto- listed Mart Resources failed to convince Midwestern Oil and Gas Limited to buy it over, a second potential buyer, Delta Oil has also pulled out of the acquisition talks. Mart Resources has announced that that, due to prevailing market and industry conditions, Mart and Delta Oil Nigeria BV have mutually agreed to terminate the arrangement agreement dated October 16, 2015.