‘More Major Attacks’ by Niger Delta Avengers Coming–Verisk Maplecroft

  ‘Realistic Threat’ NDA Will Carry Out More Major Attacks by  Andreas Exarheas   There is a ‘realistic threat’ that the Niger Delta Avengers will carry out more major attacks on infrastructure, says Verisk Maplecroft’s Ben Payton. There is a “realistic threat” that the Niger Delta Avengers (NDA) will carry out more major attacks on…

How Nigeria’s Oil Industry Went Local: The Unintended Benefits of Graft

How Nigeria’s Oil Industry Went Local The Unintended Benefits of Graft By Matt Mossman The biggest real-estate foreclosure in Manhattan’s history began with a Nigerian jet-fuel binge. Kola Aluko, now in hiding from the authorities of multiple countries, allegedly spent so much money on jet fuel that he could no longer pay the mortgage on his Midtown penthouse,…

Nigeria Wants $21bn It Hasn’t Bothered to Collect From Offshore Oil Companies Since 1993

  Nigeria Wants $21bn It Hasn’t Bothered to Collect From Offshore Oil Companies Since 1993 Nigeria wants deep offshore oil companies to pay at least $21 billion, money that oil-rich but chronically mismanaged country says oil companies owe but has not bothered to collect since 1993. The situation may soon change if the government succeeds…

China’s Sinopec To Divest Its $7.24 Billion Nigeria Business

    China’s Sinopec To Divest Its $7.24 Billion Nigeria Business Reuters reports that China’s Sinopec Group has hired BNP Paribas (BNPP.PA) to sell its oil business in Nigeria and Gabon, as the state-owned oil giant pares back its presence in Africa. Sinopec and other oil groups including China National Petroleum Corporation and CNOOC (0883.HK)…