The High Court recently declined to lift a stay of the hearing of an application for the enforcement, under the Arbitration Act 1996, of certain arbitral awards and a related jurisdictional objection by the respondent (Russia) on grounds of sovereign immunity. Among other things, a court's powers under the Arbitration Act to order an adjournment of proceedings and the payment of security are not applicable where there is an unresolved state immunity challenge under the State Immunity Act.
Nigeriaâs State Oil Firm to Acquire Stakes in Six Refineries
Jun 01 2021, 3:52 PM
June 01 2021, 3:11 PM
June 01 2021, 3:52 PM
(Bloomberg) Nigeriaâs state-owned energy company said itâs considering purchasing shares in at least six privately controlled refineries in the West African nation to conform to a government directive.
(Bloomberg) Nigeriaâs state-owned energy company said itâs considering purchasing shares in at least six privately controlled refineries in the West African nation to conform to a government directive.
The Nigerian National Petroleum Corp. is seeking an equity stake in the 650,000 barrels-per-day facility that Aliko Dangote, Africaâs richest person, is building outside Lagos, as well as in five other refineries that are in the development phase, to promote ânational energy security,â the company said in a statement Monday.
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.
A number of refineries in Africa have been offline, either following maintenance as Zambia’s Indeni, or due to a lack of crude supply as Ghana’s Tema. Two refineries in South Africa also remain offline Engen’s Durban and the Cape Town refinery as well as Cameroon’s Limbe. Near-term maintenance New and revised entries .