‘Afren, Lekoil failed to obtain consent’ — Optimum Petroleum speaks on transfer of OPL 310 | TheCable
says Afren Investment Oil and Gas Nigeria Limited failed to obtain its consent before the purported transfer of shares to Lekoil Nigeria Limited and 22.86 percent participating interest in oil prospecting licence 310.
In a statement signed by Ibrahim Bunu, chairman of Optimum, the company said the court, in its ruling, dismissed the suit as lacking in merit when it found that Lekoil had not acquired the shares of Afren, and as a result, interest in OPL310 as its purported acquisition was “invalid”.Bunu added that by the judgment, the consent of the petroleum minister and Optimum to the transfer of shares of Afren to Lekoil could not be obtained by default.
“Aside from the fact that no name or position in Afren was indicated as the author of the said publications on behalf of Afren, the said publications concealed or otherwise misrepresented material facts concerning the proceedings before the court and the subsistence of an ex parte order of injunction granted by the court on March 30th 2023 in another suit initiated by the same plaintiffs after the said final judgment of the same court on 28th March 2019, to wit: suit number FHC/L/CS/563/2023 –...
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stakeholders seek deregulation of petroleum industry | The Guardian Nigeria News - Nigeria and World NewsStakeholders in the transport sector have proffered solutions to effects of fuel subsidy removal. They said government must provide infrastructure, such as power, and a multi-modal transportation system.
Read more »
IPMAN hails FG over approval for private importers, says price will crash | The Guardian Nigeria News - Nigeria and World NewsThe Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended the Federal Government for approving importation of petroleum products by private firms.
Read more »
Fuel Subsidy: Independent Marketers, IPMAN Rejects Pump Prices Fixed By NNPCL | Sahara ReportersThe Independent Petroleum Marketers Association of Nigeria (IPMAN), has rejected the fuel pump prices fixed by the Nigerian National Petroleum Company Limited (NNPCL) saying that the company could not regulate the price of fuel in the country. The Chairman of IPMAN Enugu Depot Community in charge of Anambra, Ebonyi and Enugu states, Mr Chinedu Anyaso, made this known in Awka, Anambra State capital, while speaking in an interview with the News Agency of Nigeria (NAN).
Read more »
Probe Missing $2.1Billion, N3.1Trillion Subsidy Payments, Unremitted Funds By Nigerian Petroleum Company, NNPC Or Face Legal Action, SERAP Tells President Tinubu | Sahara ReportersThe Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to probe allegations of oil revenue funds. SERAP asked the President to 'set up a presidential panel of enquiry to promptly probe the grim allegations that US$2.1 billion and N3.1 trillion public funds of oil revenues and budgeted as fuel subsidy payments are missing and unaccounted for between 2016 and 2019, as documented by the Auditor-General of the Federation.'
Read more »
Report: NNPC terminating crude oil swap contracts, says Kyari | TheCableThe Nigerian National Petroleum Company (NNPC) has has commenced termination of crude swap contracts and will pay cash for gasoline imports, Reuters is reporting.
Read more »
Fuel price will crash - IPMAN lauds Tinubu govt over latest decisionThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has commended the present administration under President Bola Ahmed Tinubu for
Read more »