Addax Signs Settlement Deal with NNPC, Assets Revert to National Oil Company – THISDAYLIVE 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.
How NNPC tackled DPR, pushed Buhari to return revoked oilfields to Addax
The clash is another example of how government agencies appear to work at cross purposes and succeed in having the president do their bidding.
Days before the restoration of four oil mining licenses to Addax Petroleum, the
Nigerian National Petroleum Corporation (NNPC) launched a blistering tackle on its sister agency, Department of Petroleum Resources, with a strong appeal to President Muhammadu Buhari to reverse DPR’s revocation of the OMLs and reject a reallocation to another company.
The NNPC in a letter to the president on April 20 argued that the revocation of the oilfields would have implications on the Nigerian economy and the diplomatic relationship between Nigeria and China. Addax is owned by Sinopec, a state-owned Chinese firm, the nine-page memo seen PREMIUM TIMES shows.