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PIB: Sinkhole called frontier basin development The Punch Published 6 July 2021 The news of the passage of the Petroleum Industry Bill hit the airwaves like a tsunami last week, sparking surprise, disbelief, and confusion among stakeholders in the Nigerian oil and gas industry. Like the miracle in Cana in Galilee, the House of Representatives passed 318 clauses in less than 20 minutes! This is a feat four to five republics of the National Assembly could not achieve in nearly two decades! Shortly afterwards, the PIB also passed the third reading in the Senate amid chaos and hea...

Rivers releases fund to aid cassava cultivation — Wike On By Davies Iheamnachor Governor Nyesom Wike of Rivers State, has said seed money has been earmarked by his administration to encourage massive cultivation of cassava across the state. Wike made the disclosure at the inauguration of the Rivers State Cassava Processing Plant at Afam town in Oyigbo Local Government Area of the state, yesterday. The governor, according to a statement by his Special Assistant on Media, Kelvin Ebiri, said: “The other day, I went to see one of my friends. I went to his farm of over 56 hectares of land. He...

endIndex: Metro Manila (CNN Philippines, May 24) — The government will still step in to review the multimillion-dollar deal between Davao-based businessman Dennis Uy and Shell Petroleum N.V. for the acquisition of a majority stake in the giant Malampaya gas field, the energy chief said Monday. Uy has moved to double his company's controlling stake to 90% in the offshore gas facility, baring last Thursday the agreement of his Malampaya Energy for the purchase of Shell Philippines Exploration B.V.'s 45% operating interest. Following the transaction, the government's Philippine National Oil C...

Shell Signs Agreement To Sell Interest In Malampaya, Philippines Shell Petroleum N.V. has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration B.V. (SPEX). SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field. The base consideration for the sale is US$380M, with additional payments of up to US$80M between 2022 to 2024 contingent on asset performance and commodity prices. Subject to partner and regulatory consent, the transa...

Shell to exit Malampaya gas field offshore Philippines 21 May 2021 (Last Updated May 21st, 2021 10:54) Royal Dutch Shell has signed a $460m deal to sell its stake in a gas field offshore the Philippines to Malampaya Energy XP. Share Article Royal Dutch Shell has finalised an agreement to divest its stake in Malampaya gas field in the Philippines to Malampaya Energy XP for up to $460m. Malampaya Energy XP, which is a subsidiary of Udenna, will acquire a stake in Shell Philippines Exploration (SPEX) from Shell subsidiary Shell Petroleum. SPEX owns ...