By Folasade Akpan
Abuja, 28 Jan. 2021 Afreximbank has disbursed 250 million dollars as part of its support for Trans Niger Oil and Gas Ltd (TNOG) to acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield.
The NNPC holds 55 per cent equity in the Lease.
The disbursement is about a quarter of the financing required to enable TNOG to buy stakes in the Lease from Shell Petroleum Development Company, Total E&P Nigeria Ltd. and ENI (AGIP).
The total support package from Afreximbank – Africa Export Import Bank – is 1.1 billion dollars, it said in a statement issued in Cairo on Thursday.
It noted that with the 250 million dollar Reserve Based Lending (RBL) facility, Afreximbank was the largest lender in the acquisition process.
TODAY
January 28, 2021
Afreximbank has disbursed 250 million dollars as part of its support for Trans Niger Oil and Gas Ltd (TNOG) to acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield.
The NNPC holds 55 per cent equity in the Lease.
The disbursement is about a quarter of the financing required to enable TNOG to buy stakes in the Lease from Shell Petroleum Development Company, Total E&P Nigeria Ltd. and ENI (AGIP).
The total support package from Afreximbank – Africa Export Import Bank – is 1.1 billion dollars, it said in a statement issued in Cairo on Thursday.
It noted that with the 250 million dollar Reserve Based Lending (RBL) facility, Afreximbank was the largest lender in the acquisition process.
2 min read
Afreximbank has disbursed a $250 million credit to Trans Niger Oil and Gas Ltd (TNOG) to enable the company acquire 45 per cent stake in Oil Mining Lease (OML) 17 onshore oilfield.
The
NNPC holds 55 per cent equity in OML 17.
The disbursement is about a quarter of the financing required to enable TNOG to buy stakes in the lease from Shell Petroleum Development Company, Total E&P Nigeria Ltd. and ENI (AGIP).
The total support package from Afreximbank – Africa Export Import Bank – is $1.1 billion, the bank said in a statement on Thursday, according to the News Agency of Nigeria.
The bank noted that with the $250 million dollar Reserve Based Lending (RBL) facility, Afreximbank was the largest lender in the acquisition process.
Why we shutdown Total E&P gas plant Rivers community
On
By Davies Iheamnachor
Obite indigenes in Ogba/Egbema/Ndoni Local Government Area of Rivers State have an advanced reason for shutting down a gas plant operated by Total Exploration and Producing Nigeria Limited in their domain citing alleged insensitivity of the oil multinational to their plight.
The aggrieved natives, drawn from the five villages of Obite community also lamented the alleged refusal of the oil firm to honour a Supreme Court judgement that compensation is paid to the community for the land acquired in the area for its operations.