At least 30,000 metric tons of cocoa are trapped on their way to ports in Nigeria’s main city of Lagos as roads in a state of disrepair delay access to ships, the cocoa exporters body said. Travel to the Apapa and Tin Can Island ports that previously took hours, now takes as much as four weeks as trucks struggle through cratered and water-logged roads to get there, Pius … [Read more...]
Shell Says Nigeria Attacks Persist Even as Oil Output Recovers
By Elisha Bala-Gbogbo (Bloomberg) -- Nigeria’s oil wells may be flowing again, but the country’s largest operator says attacks continue to put a brake on output. “Security in parts of the Niger delta remains a major concern with persisting incidents of criminality, kidnapping and vandalism as well as onshore and offshore piracy,” said Igo Weli, general manager for external … [Read more...]
Don’t Neglect to Pay the Middleman: How Shell and Eni Ended Up On Trial
By Libby George and Shadia Nasralla LONDON, May 21 (Reuters) - Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now, nine current and former executives or contractors from Italy's Eni and British-Dutch giant Royal Dutch Shell , including ENI Chief Executive Claudio Descalzi, have been accused … [Read more...]
Nigeria’s Thirst for Gasoline Draws Rare Suezmax Cargo to West Africa
By Libby George and Ahmad Ghaddar LONDON, Feb 7 (Reuters) - Nigeria's push to keep its citizens stocked with fuel is drawing close to a million tonnes a month of gasoline from Europe - including now on a rare Suezmax vessel booked by Vitol. The country is working overtime to replenish its tanks after shortages and queues popped up across the nation of more than 180 … [Read more...]
Eni, Shell to Face Trial in Italy in $1 Billion Bribery Case
By Chiara Albanese, Sergio Di Pasquale and Kelly Gilblom (Bloomberg) -- Eni SpA, Royal Dutch Shell Plc and senior executives will face trial over a $1.1 billion bribery scandal in Nigeria, an Italian judge ruled on Wednesday. The trial will start on March 5 in Milan, judge Giusy Barbara told reporters. The long-awaited decision, initially expected several months ago, will … [Read more...]