November 14, 2022                                                       
 ISSUE 248


Nigeria Signs Oil Deal To Unlock $10bn Investment
By: Unini Chioma

Nigeria has signed an offshore oil deal with Shell, Exxon, Total and Eni, that the state says will generate millions, settle disputes and open the way to a $10 billion investment.

The “Execution of Oil Mining Lease (OML) 118 (Bonga) Agreements” was signed Tuesday by the local subsidiaries of the four oil majors and the Nigerian National Petroleum Corporation (NNPC).

Nigeria, Africa’s largest oil producer and exporter, has been hit hard by a combination of falling crude prices and the global pandemic.

“This marks a watershed in the administration of deepwater operations in Nigeria,” the NNPC said on Twitter.



Petrol landing cost now N510/litre –NNPCL
By: Sun Newspaper

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited, Mr. Mele Kyari, has disclosed that the landing cost of Premium Motor Spirit(PMS), popularly called petrol is thrice N170 per litre.

Kyari, stated this on Wednesday at the Legislative Transparency and Accountability Summit organised by the House of Representatives Committee on Anti-Corruption in Abuja .

His declaration was coming barely two months after  he told the resumed hearing of the ad hoc committee of the House of Representatives investigating subsidy regime from 2013 to date, chaired by Ibrahim Mustapha, that landing cost of petrol stands at N327.68 per litre.

But less than two months, the cost had ballooned to N510 per litre.



To deliver exemplary transshipment operations, procurement and charter services "on time" and "on budget" according to global safety and quality standards.

Shell’s 400,000 Bpd Forcados Export Terminal Commences Export By Month End
By: Chika Izuora

The Shell Petroleum Development Company of Nigeria Limited (SPDC) said, the Forcados oil terminal will resume export operations by the end of the month ‘when ongoing essential repairs would have been completed.’

“In addition to the repairs, we are working to remove and clamp theft points on the onshore pipelines to ensure full crude oil receipt at the terminal,” SPDC’s media relations manager, Abimbola Essien-Nelson, said in a company statement.

Essien-Nelson outlined in the statement that active illegal connections to the SPDC joint venture’s production lines and facilities in the western Niger Delta, as well as the inactive illegal connection to the onshore section of the 48” Forcados Export Line, are in the company’s ongoing programme to remove illegal connections on the pipelines that feed the terminal.


'How NIMASA, NPA are contributing to fall in value of naira, high petrol price'
By: Emmanuella Anokam

The Oil Marketers Association of Nigeria has said the refusal of the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Ports Authority (NPA) to obey Federal Government’s directive on Naira transactions for ports charges is contributing to the fall in value of naira and the rise in price of petrol

This is contained in a statement by Mahmood Tukur, Vice Chairman II, Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Sunday in a statement.

The federal government through its downstream regulator, and based on agreement reached with stakeholders, directed ports charges to be collected in Naira.



Filipino seafarer jailed 20 years for brutal murder on MSC Ravenna
By: Ships & Ports

A Filipino seafarer, who fatally stabbed a fellow crew member on the 14,000 TEU container ship MSC Ravenna en route from Shanghai to Los Angeles, was sentenced to 20 years in federal prison.

Michael Dequito Monegro, 44, a resident of the Philippines, was sentenced by United States District Judge Dale S. Fischer, who said in court at a hearing on 7 November that Monegro’s “conduct was unusually heinous, cruel and brutal.”

The murder took place on 20 September 2020, when the Liberian-flagged container vessel was approximately 80 nautical miles from Southern California.



MSC accused of abusing dominant position in Brazil
By:  Ships & Ports
The Brazilian Association of Port Terminals (ABTP) has filled a legal request at the Administrative Economic Defense Council (CADE) of Brazil to investigate the impact of the world’s largest container shipping line, Mediterranean Shipping Company (MSC) on the country’s economy.

ABTP accused the shipping giant of abusing its domination of the container shipping sector in Brazil to give advantages to its own terminals, raising costs and reducing options for the flow of cargo in the country.

ABTP noted that MSC and its 2M Alliance partner Maersk are responsible for 79% of containers (53% directly and another 26% through commercial agreements) transported along the Brazilian coast.


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