Leslie Adler
NNPC renews OML 118 with Shell, Total, Exxon, Eni
The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 with the local subsidiaries of Shell, Total, Exxon and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the production-sharing contracts” between the investors in the field, the statement said. The Nigerian government will immediately recognise revenues of $780 million from the signing of the agreement, “while it would also free the parties from over $9 billion in contingent liabilities,” the statement said. The deal was signed between NNPC, Shell Nigeria Exploration and Production Company, Total Exploration and Production Nigeria Limited, Esso Exploration and Production Nigeri...
Telegraph: Britain to tighten laws on imports linked to alleged Chinese human rights abuses
Britain will tighten the law on importing goods linked to alleged human rights abuses in China as ministers take a tougher stance on Beijing, The Telegraph reported on Monday. Foreign Secretary Dominic Raab will make a statement on Tuesday in the House of Commons on the government’s response to allegations of forced labour in China’s Xinjiang province, home to about 12 million Uighur Muslims, the report bit.ly/2LKt2Fe added. Among the measures expected to be unveiled by the government include expansion of the Modern Slavery Act, reacting to concerns that items manufactured under duress by the Uighur Muslim minority may be entering the UK, the Telegraph reported. Britain said last year there was credible, growing and troubling evidence of forced labour among Uighur Muslims. China has come u...
