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The Senate Committee on Ethics, Privileges And Public Petitions, on Thursday, mandated the Nigerian Upstream Petroleum Regulatory Commission (NUPR), to

Senate has directed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to show proof of Presidential directive for revocation and reallocation of the Atala Marginal Oil field (OML 46), owned by Bayelsa State government, to Halkin Exploration and Production Company Limited (Halkin E&P).

The Nigerian Upstream Petroleum Regulatory Commission ( NUPRC ), came under fire and scrutiny in Senate last Friday over alleged revocation and wrongful

The federal government has approved the handing over of the Atala oilfield, a revoked asset hitherto owned by the Bayelsa state government, to new owners, Halkin Exploration and Production Limited. A letter to that effect sighted by THISDAY indicated that the field, Oil Mining Lease (OML) 46, was approved for transfer after the Director, DPR, Mr. Sarki Auwalu, copied a memo to the Minister of Petroleum, Mr Timipre Sylva, notifying him of the directive which had been given a nod by President Muh...

Nseobong Okon-Ekong examines the seeming uncertainty surrounding the revocation, restoration of Addax/Sinopec OML License, and the report of the Committee set up by President Muhammadu Buhari on the issue President Muhammadu Buhari had in March approved a decision to revoke the Oil Mining Licences of Addax Petroleum being managed by Sinopec and domicile same with the Nigerian National Petroleum Corporation (NNPC) for allocation to new operators. The industry regulator, the Department of Petrole...

The Kaztec/Salvic consortium stated that the Department of Petroleum Resources (DPR) deserved to be commended for doing due diligence and following relevant laws in making them the choice operators of the assets.

ADDAX OML LICENSE IMPASSE: DPR’s action will boost government revenue – Group On Kindly Share This Story: In the face of the seeming uncertainty surrounding the revocation, restoration of Addax OML License, and the report of the Committee set up by President Muhammadu Buhari on the issue, which indicted Addax for wasting millions of dollars, a Civil Society Organisation, Good Governance Advocates has commended the Directorate of Petroleum Resources (DPR) for taking concrete steps to boost ...

By Perry Okolugbo In 1998, the Nigerian National Petroleum Corporation (NNPC) entered into a 20-year Production Sharing Contract (PSC) in respect of certain oil mining leases (OMLs) with Addax Petroleum, a company listed on the Toronto Stock Exchange (TSX). The PSC was subsequently extended for a further four years, until 2022. The assets were OMLs 123, 124, 126 and 137. Under the PSC, Addax fully funded and operated the development of the OMLs, with profit shared between Addax and NNPC. From 1...

In 1998, the Nigerian National Petroleum Corporation (NNPC) entered into a 20-year PSC (Production Sharing Contract) in respect of certain oil mining