Equinor Says It Wins Nigeria Case Over Agbami Oil Profits
William Clowes, Bloomberg News
, Photographer: Simon Dawson/Bloomberg
(Bloomberg) Equinor ASA said the Nigerian Supreme Court overturned a ruling that had threatened to divert 1.5% of the companyâs profits from one of the countryâs largest oil fields to a former consultant.
The Supreme Court ruling Friday that the lower courts had no jurisdiction over the case should conclude a dispute that has played out in the West African nationâs courtrooms for more than a decade, Equinor spokesman Erik Haaland said. âWe are pleased with the courtâs decision, which is in line with our position,â he said in an emailed statement.
Equinor wins decade-long court fight over Nigeria oil profits By William Clowes on 2/5/2021
(Bloomberg) Equinor ASA said the Nigerian Supreme Court overturned a ruling that had threatened to divert 1.5% of the companyâs profits from one of the countryâs largest oil fields to a former consultant.
The Supreme Court ruling Friday that the lower courts had no jurisdiction over the case should conclude a dispute that has played out in the West African nationâs courtrooms for more than a decade, Equinor spokesman Erik Haaland said. âWe are pleased with the courtâs decision, which is in line with our position,â he said in an emailed statement.
The Supreme Court’s hearing in the presidential election petition filed by John Dramani Mahama on the 30th of December 2020 is ongoing.
Cross-examination of the Petitioners first witness, Johnson Aseidu Nketia by the 2nd Respondent is expected to continue and possibly end Monday. This write up seeks to summarize activities from the proceedings from last week and further explain the key process that was before the court.
Tuesday 26th January 2021
The Petitioner had several motions before the Court; Stay of Proceedings Pending the determination of Review, Leave to file additional grounds for Review, and the Review application itself and Abridgment of Time.