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Nigeria
NNPC's crude oil-for-products swap system could disappear in six months

The deregulation of petrol prices, which has been speeded up by the Covid-19 pandemic, has led to a renewal of swap contracts since the start of 2020. But they could shortly be on the way out. [...]

Published on 06/10/2020 at 05:00 GMT Reading time 2 minutes

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In Focus | Africa
From Dubai to Cape Town, upstart trader Coral Energy rolls out African offensive

Dubai-based Coral Energy has recently made an aggressive entrance on the oil trading market in several sub-Saharan African countries where competitors suspect it of reselling Russian products. Africa Intelligence lifts the veil on this little-known trader.

Subscribers only Energy 20.11.2023

From left to right: Coral's founder, Azerbaijani Tahir Garayev, his compatriot Ahmed Karimov and the head of the Rosneft group, Igor Setchine.

In Focus | Niger, Nigeria
From Issoufou to Bazoum, billionaire Mangal remains the most influential Nigerian in Niamey

A businessman from the north of Nigeria who is as powerful as he is discreet, Alhaji Dahiru Mangal is developing his activities in Niger with the approval of the authorities.

Subscribers only Politics, Business 17.04.2023

Alhaji Dahiru Mangal, Mohamed Bazoum (L), Mahamadou Issoufou (R).

Burkina Faso
Traders threaten to cut Ouagadougou's fuel supply

At the time of the 30 September coup, the Burkinabe Ministry of the Budget owed over €600m to Sonabhy, the entity that manages the country's petroleum supply. The state-owned firm can no longer pay its traders, who are threatening to stop their oil deliveries.

Subscribers only Energy, Commodity traders 27.10.2022

Nigeria
Usual suspects and unknowns among winners of NNPC swap deals

The Nigerian state-owned company has published the list of firms who will get crude oil in exchange for petroleum products. As usual, established companies rub shoulders with unknown firms that have close links to the government.

Subscribers only Energy 07.06.2021

Congo
Gunvor execs named in Congo corruption case hit by new scandal

A former employee of Swiss trader Gunvor admitted in early April that he paid nearly $22m in bribes to Ecuadorian officials between 2012 and 2019 to win contracts with the state-run oil company. He was working under the supervision of executives who were already in their jobs when a similar case occurred in 2012 in Congo and Ivory Coast.

Subscribers only Energy 16.04.2021

Zambia
Dangote scores win against football chief Andrew Kamanga

Nigerian billionaire Aliko Dangote's firm has won an appeal against Enfin, the company that introduced it to the Zambian authorities and claimed it was owed unpaid fees. Enfin was founded by Andrew Kamanga, who recently renewed his term as president of the Football Association of Zambia.

Subscribers only Business 02.04.2021

Nigeria
Abba Kyari's favourite trader thrives in wake of his death

Matrix Energy's tight connections to the powers that be in Nigeria has allowed it to play a prominent role in the country's oil trading.

Subscribers only Energy 25.01.2021

Nigeria
ExxonMobil and Shell still chasing $2.5bn from NNPC for OML 133

Though rebutted by a New York court a year ago, ExxonMobil and Shell have not given up on their crusade to have enforced an arbitration award that ordered NNPC to repay them more than $2.5bn.

Subscribers only Energy 27.08.2020

Nigeria
Death of Buhari's top aide Abba Kyari prompts dramatic NNPC overhaul

The Nigerian president has decided to carry out a major shake-up of the Nigerian National Petroleum Corporation board. Here's a round-up of who's in and who's out.

Subscribers only Energy 03.06.2020

In Focus | Nigeria
The ghost of Enron returns to haunt yacht once owned by former oil minister Alison-Madueke's trader pals

The Galactica Star super-yacht was a symbol of the excesses of former Nigerian oil minister Alison-Madueke, who Nigeria is trying to have extradited from London. It is now at the heart of a battle between Washington, Abuja and a surprise ghost from the past, former Enron group subsidiary Enron Nigeria Power Holdings.

Subscribers only Energy 11.05.2020

The Galactica Star. The proceeds of the yacht's sale are claimed by Nigeria, the US and former Enron men.

Nigeria
NAPIMS tussles with oil majors Shell/ExxonMobil/Total over cost-cutting

NNPC's local content arm is trying to keep the oil sector profitable by imposing severe cuts in international companies' expenditure, to the detriment of their Nigerian partners.

Subscribers only Energy 21.04.2020

Nigeria
Buhari's Kyari duo settle on pick of oil firms to sell NNPC crude

The award of oil allocations has dealt a new hand to the Nigerian traders.

Subscribers only Energy 09.07.2019

Nigeria
Swap deals: Kachikwu's great refinery failure

This could be the last days at the ministry for the secretary of state. If he does go, one of his biggest regrets will be Nigerian traders are still hooked on swap deals.

Subscribers only Energy 09.04.2019

Nigeria
2019 election: Buhari rewards supporters with crude

A list of Nigerian marketers selected to sell NNPC crude has leaked. Although Buhari hasn't given his final go-ahead for the list, which could see a few changes beforehand, it does give an idea of who his supporters are as the electoral campaigning steps up a notch.

Subscribers only Energy 05.06.2018

Nigeria
Exclusive: Buhari's shortlist of swap magnates

Muhammadu Buhari, has unexpectedly brought back in the processing of swapping NNPC crude for petroleum products, a process set up [...]

Subscribers only Energy 16.05.2017

Spotlight | Nigeria
How Buhari hands NNPC's crude to those in his debt

In addition to international groups like Glencore, Trafigura, Total and BP, the list of 18 Nigerian firms that won allocations of NNPC’s crude - 32,000 bpd or one cargo per month - for 2017/2018 looks like a clever geopolitical share-out [.

Subscribers only Energy 17.01.2017

Nigeria
Monthly swap seen as Buhari’s antidote to shortfalls

To avoid placing all gasoline import contracts in the same hands the Nigerian president has inaugurated a new kind of short-term contract.

Subscribers only Energy 26.01.2016

Nigeria
Winners and losers in NNPC swap deals

In step with one of the priorities of Nigeria’s president Muhammadu Buhari, contracts that had allowed for cargoes of crude [...]

Subscribers only Energy 01.09.2015

Nigeria
Buhari puts swap contracts and NNPC under microscope

The new Nigerian president doesn’t trust the audit reports issued by the previous government and wants everybody to know it.

Subscribers only Energy 14.07.2015

Spotlight | Nigeria
Who are the lucky winners in swap contract lottery?

Largely unnoticed in Nigeria where the media and politicians are riveted on the presidential election on Feb. 14, a unit of the Nigerian National Petroleum Corp (NNPC), Pipelines and Product Marketing Co (PPMC) renewed swap contracts in early January that [.

Subscribers only Energy 03.02.2015

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