Pirates have released eight crew members kidnapped from the Greek tanker Happy Lady back in December as the vessel was anchored off the port of Limboh in Cameroon, on the Gulf of Guinea. The eight sailors, including the ship's 45-year-old captain, were released following successful conclusions negotiations with the kidnappers, the Greek shipping ministry said in a … [Read more...]
Nigeria Deploys Satellite Tech to Track Oil Smugglers
By Noah Browning LONDON, April 30 (Reuters) - From algorithms to track "dark" ships smuggling stolen crude oil to an online licensing system to undercut corruption, one Nigerian government agency hopes it can use new technology to tackle theft which has cost the country billions. But the initiative by the Department of Petroleum Resources (DPR) may be too late to stem … [Read more...]
Nigeria to Build Seaports to Ease Gridlock on Lagos’s Shore
By Solape Renner and Anthony Osae-Brown (Bloomberg) -- Nigeria is building a new deep-sea port and considering two additional facilities to ease congestion in the main harbors of the commercial capital, Lagos, which currently handle about 80 percent of all shipping traffic in Africa’s biggest oil producer. A new facility is already under construction in the Lekki Free Trade … [Read more...]
Total Poised to Start Exports From Big New Oil Field in Nigeria
By Sherry Su (Bloomberg) -- Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging. Shipments of Egina crude from a floating offshore production vessel have been scheduled for February, according to a copy of a loading program for the new grade seen by Bloomberg. Initial … [Read more...]
Nigeria Heads to Deep Water in Search of Future for Oil Producers
By Elisha Bala-Gbogbo (Bloomberg) -- When it comes to the future of its oil industry, Nigeria is looking miles out to sea. By early next year, the largest offshore production vessel ever delivered to Nigeria will start pumping crude from a deposit deep beneath the seabed, boosting the West African country’s oil output by about 10 percent. The project, viewed as the … [Read more...]