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Buhari and the Revocation of Addax's OML Leases, By Opeyemi Abegunde

President Muhammadu Buhari
Certainly, Nigeria needs a partner like China and the revocation of the Addax leases would have resulted in serious reputational damage to the country, with possible unintended but dire diplomatic consequences. Kudos Mr. President for rising up to the occasion!
The decision by President Muhammadu Buhari to overrule the Department of Petroleum Resources (DPR) on the revocation of Addax Petroleum’s Oil Mining Leases (OMLs) 123, 124, 126 and 137 is quite instructive and significant in the context of the interplay of variegated interests in the determination of the bigger picture, as exemplified by the survival of the national economy. It is quite instructive because it has shown that for Buhari, personal interest is neither here nor there, absolutely having no place in this critical business consideration that has implications for national economic sustenance. It is also remarkably significant because the approval has bolstered the contempla ....

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Buhari Cancels Oil Leases To Minister's Cronies, Mamman Daura, Others After SaharaReporters' Story

Buhari Cancels Oil Leases To Minister's Cronies, Mamman Daura, Others After SaharaReporters' Story
saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.

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DPR revokes Addax's oil mining licenses after delays

By
Wed Apr 07 2021
The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OML) belonging to Addax Petroleum citing non-development of the assets for several years.
The affected licenses include OML 123, 124, 126 and 137. In a chat with journalists yesterday, the Director/Chief Executive Officer of DPR, Sarki Auwalu said the decision was taken in a bid to address production and revenue losses occasioned by the neglect of the assets.
According to him, over 50 per cent of assets remain undeveloped after several years, contrary to the principle of Petroleum Act.
Auwalu said: “OML 137 holds gas reserves of more than three trillion tcf, adding that reserves have remained flat over the years without any form of development. ....

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DPR revokes oil firm's mining licences over dormant assets

DPR revokes oil firm's mining licences over dormant assets
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.

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DPR Revokes Addax Petroleum's Four Oil Blocks for Non-performance

DPR Revokes Addax Petroleum's Four Oil Blocks for Non-performance
thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.

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