A Court in London will deliver judgment on Friday in a case filed by lawyers for the Bodo community in Nigeria’s oil-producing Niger Delta.
The lawyers, went to court in London to fend off what they said was an attempt by Shell to kill off their litigation.
The community was devastated by two major oil spills a decade ago.
The Bodo oil spills have been the subject of years of legal wrangling.
Benchmark oil contract Brent North Sea hit $80 a barrel Thursday for the first time since late 2014, extending a recent run higher fuelled by tight supply concerns.
Shortly before 1000 GMT, Brent North Sea crude for delivery in July jumped to $80.18 a barrel — the highest level since November 2014.
Around 1010 GMT, it pulled back to $79.79, still 51 cents higher than Wednesday.
For an administration that campaigned heavily about jettisoning subsidy regime and ‘stabilizing global oil prices’ coming out to criticize a workable idea to liberalize the country’s oil and gas sector is unfortunate to say the least,” the statement said
The energy industry has turned to robots and drones to cut costs and improve safety in some of the world’s tougher working environments.
Drones inspect gear high up on floating rigs. Robots crawl underwater to test subsea equipment for microscopic metal cracks. Remotely operated mini submarines can replace divers.
Sen. Chukwuka Utazi (Enugu-PDP) at plenary on Thursday raised a Point-of-Order on the matter seeking the intervention of the Upper Chamber to stem brewing crisis among the three states laying claim to the oil wells.
Oil marketers and the Organised Private Sector (OPS), have suggested two regulatory bodies to regulate the oil industry under the Petroleum Industry Governance Bill (PIGB) currently before the National Assembly.
The oil marketers disclosed this at a joint media briefing with the OPS in Lagos, on Sunday.
Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose.
Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production
The Federal Government is making progress on the establishment of modular refineries with the arrival of one set of package shipment already in the country and undergoing Customs clearance.
