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Interrogating the NNPC/Addax face-off over oil mining leases [opinion] On By Meifor Igwe IN contemporary Nigerian business context, oil mining leases are like the gold fish that cannot be hidden. And that is why oil mining leases 123, 124, 126 and 137 made headline news 23 years ago and they are back in the media space creating waves once again. They hold huge potential for Nigeria and everyone and can, therefore, not remain idle! It is a fact that in 1998, the Nigerian National Petroleum Corporation, NNPC, entered into a 20-year Production Sharing Contract, PSC, in respect of certain oil mi...

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.

Senator Magnus Abe The lack of investment in the oil field granted to Addax is said to have caused a great loss to the economy, Director, Nigerian National Petroleum Corporation (NNPC), Senator Magnus Abe, has said. Abe, who was reacting to an online story, said the Department of Petroleum Resources (DPR) was right in its recommendation of a revocation of the mining leases issued to Addax in the national interest. In the said online story, entitled: “Petroleum Minister, cronies plot kangaroo NNPC report to divert $650 million oil contracts to themselves,” Abe, said the report, was “desi...

ON THE GO Police warn against Yoruba nation rally in Ogun The police in Ogun state say the planned rally to promote the concept of a Yoruba nation, scheduled to hold in Ogun state on May 1, is not approved by... Insecurity: Oyo to deploy Man O’ War operatives to schools The Oyo government says it will deploy Man O’ War operatives to primary and secondary schools across the state to beef up security.Advertisement Seyi Makinde, governor of Oyo, disclosed this... India reports over 380,000 new COVID cases — highest daily count worldwide Although the Indian govern...

Vanguard News New operating consortium promises Nigeria better value from 4 oil assets On By Innocent Anaba Kaztec Engineering Limited and Salvic Petroleum Resources consortium have promised to offer Nigeria better value in terms of increased revenue, local content boost, and more employment opportunity as they take over the operatorship of the Oil Mining Leases (OMLs) 123, 124, 126 and 137 previously operated by Addax Petroleum. The new partners also disclosed that they have commenced engagement with Addax to ensure a smooth and amicable transition of operations at the assets. The Kaztec/Sa...