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Kaztec Engr asks A Court to set aside judgment on OMLs 123, 124, 126, 137 dispute

Kaztec Engr asks A Court to set aside judgment on OMLs 123, 124, 126, 137 dispute
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Kaztec asks a court to upturn judgement affirming NNPC s ownership of OMLs

Kaztec asks a court to upturn judgement affirming NNPC s ownership of OMLs
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Reps panel threatens to summon Buhari

Reps panel threatens to summon Buhari The Reps panel is investigating the controversy surrounding some oil licenses. 3 min read The House of Representatives Committee on Petroleum (Upstream) has given the Nigerian National Petroleum Corporation (NNPC) 14 days ultimatum to appear before it. Should the NNPC fail to appear, the committee said, it will summon the Minister of Petroleum, President Muhammadu Buhari. The committee is investigating the revocation and reversal order on the operating licences of OML 123, 124, 126 and 137. The oil assets have been the subject of dispute between Chinese-owned oil companies and the federal government. The dispute led to the revocation and restoration of the mining licenses by the Buhari administration.

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Nigeria s president restores four drilling permits revoked from China s Addax

Nigeriaâs president restores four drilling permits revoked from Chinaâs Addax By William Clowes on 4/25/2021 (Bloomberg) Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of Chinaâs Sinopec. Buhari âapproved the restorationâ of the licenses to Addax Petroleum Corp. as part of his commitment to âthe rule of law and sanctity of contracts,â spokesman Garba Shehu said in an emailed statement Friday. The West African nationâs oil industry regulator, the Department of Petroleum Resources, announced the termination of the leases on April 6. The president directed the DPR âto retract the letter of revocation,â according to Shehu. He instructed the state-owned Nigerian National Petroleum Corp., which is in a partnership with Addax, to âresolve issuesâ in line with their contractual relationship, he said.

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Nigeria s Buhari Restores Oil Permits Revoked from China s Addax

William Clowes, Bloomberg News Muhammadu Buhari Photographer: Drew Angerer/Getty Images , Photographer: Drew Angerer/Getty Images (Bloomberg) Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of Chinaâs Sinopec. Buhari âapproved the restorationâ of the licenses to Addax Petroleum Corp. as part of his commitment to âthe rule of law and sanctity of contracts,â spokesman Garba Shehu said in an emailed statement Friday. The West African nationâs oil industry regulator, the Department of Petroleum Resources, announced the termination of the leases on April 6. The president directed the DPR âto retract the letter of revocation,â according to Shehu. He instructed the state-owned Nigerian National Petroleum Corp., which is in a partnership with Addax, to âresolve issuesâ in line with their contractual relationship, he said.

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