Total Says Nigeria’s Oil Bill Will Hurt Industry

Wednesday, September 22, 2010

According to a September 21 report from the Associated Press, a top official at French oil major Total SA warned that a proposal to overhaul Nigeria's oil industry would hobble foreign investment, just as the firm prepares to bring a major offshore field into production. Analysts said the petroleum bill would sharply reduce the profits of foreign oil companies like Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total, all of whom have subsidiaries operating oil fields in Nigeria. Government officials said the bill would allow more oil money to return to Nigeria's people. The bill also would require the government-run Nigerian National Petroleum Corp., which partners with all foreign oil firms, to seek profits like a private business and not rely on government subsidies.

(Source: The Associated Press)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Sea Trucks Returns to the Gulf of Mexico

Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico,

Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.

IRSHAD Acquires Damen Shoalbuster 2308

Abu Dhabi Petroleum Ports Operating Company (IRSHAD), a part of the ADNOC Group of Companies, has taken delivery of a Damen Shoalbuster 2308, named Al Marfa 1.

News

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

Sea Trucks Returns to the Gulf of Mexico

Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1455 sec (7 req/sec)