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Fear of dashed hopes as oil producers await decisive action against crude oil theft

Fear of dashed hopes as oil producers await decisive action against crude oil theft
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Fears as Oil Producers Awaits Decisive Action against Crude Oil theft

Fears as Oil Producers Awaits Decisive Action against Crude Oil theft
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Avuru Calls for State of Emergency in Oil Sector, Says 80% of Crude Stolen

Avuru Calls for State of Emergency in Oil Sector, Says 80% of Crude Stolen
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OML 17 allows Tony Elumelu's Heirs to take on Seplat

By Pierre-Olivier Rouaud
The acquisition of oil block OML 17 from Total and Shell should allow Tony Elumelu’s group to shake up the hierarchy of local oil operators.
On 15 January 2021, Trans-Niger Oil & Gas Limited (TNOG) and Transcorp plc, two of the companies in the galaxy of 58-year old tycoon Tony Elumelu â along with his Heirs Group â bought 45% of OML Block 17 from Shell (30%), Total (10%) and ENI (5%).
The acquisition is estimated to be worth over $800m. âWho would have thought that when we started this journey, all those years ago, it would take us the better part of a decade to close the deal,â said Elumelu, who is also the chairman of UBA Bank. ....

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Tony Elumelu Strides on at 58

Tony Elumelu Strides on at 58
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