Legal & Regulatory

Sahara Energy says it is not indebted to UBA

Apr 16, 2019

The management of Sahara Energy Resource Ltd., says the company has no outstanding facilities with the United Bank for Africa Plc (UBA), contrary to media reports sourced from a petition filed by UBA. Sahara Group management said on its website on Saturday that it has instructed its lawyers to take necessary steps to ensure UBA’s…

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NERC gives approval for more Discos to procure third-party meters

Apr 13, 2019

The Nigerian Electricity Regulatory Commission (NERC) Friday disclosed that it has given two more electricity distribution companies (Discos) in Nigeria’s power sector the nod to engage third-party contractors to install meters for consumers under their networks. Last week, the commission approved the choices of Abuja and Jos Discos to engage third-party meter vendors under the…

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DPR seals 14 fuel stations in Sokoto, Kebbi for selling at higher prices

Apr 13, 2019

The Department of Petroleum Resources (DPR) says it has sealed 14 fuel service stations in Sokoto and Kebbi states for selling above control price and suspected diversion of products. Mr Muhammad Makera, the Zonal Operations Controller of DPR in charge of Sokoto and Kebbi states, said on Saturday in Sokoto that the sanctions were meted…

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FG revokes seven oil block licences

Apr 11, 2019

The Nigerian government has approved the request to revoke the licences of six Oil Mining Leases (OMLs) and one oil prospecting lease (OPL), in the onshore, shallow water and deepwater Niger Delta basin. The request was made by the country’s Ministry of Petroleum Resources. The assets are all held by Nigerian companies. Revocation is the…

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DPR raids illegal petroleum products operators on Lagos-Ibadan expressway

Apr 7, 2019

Officials of the Department of Petroleum Resources in Ogun State on Friday raided some illegal outlets on the Lagos-Ibadan Expressway. The News Agency of Nigeria reports that seven retailers were arrested by personnel of the DPR in company with men of the Nigeria Security and Civil Defence Corps. NAN also reports that the point of…

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Kachikwu gives update on the Petroleum Industry Bill’s progress

Apr 6, 2019

His Excellency Emmanuel Ibe Kachikwu, Nigeria’s minister of state for petroleum, held a press conference at APPO Cape VII, in which he gave an update on the progress of the Petroleum Industry Bill (PIB). Following incumbent president Muhammadu Buhairi’s win in this year’s elections, Kachikwu confirmed that the bill was with the president and could…

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DPR given 3 month ultimatum to collect overdue oil licence royalties

Apr 4, 2019

 As part of efforts to improve the revenue profile of the Federal Governmentin 2019, the Federal Government has directed  the Department of Petroleum Resources (DPR) to, within three months, complete the collection of past-due oil licence and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC) (a subsidiary of NNPC), which it had agreed to…

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OPL 245 oil field award to Shell and ENI flouts local laws – Prosecution Expert

Apr 4, 2019

The federal government yesterday made progress in the prosecution of the flaws associated with the controversial award of OPL 245 to oil giants, Shell and Eni. A consultant hired by Italian prosecutors, Dr Dayo Ayoade, said in Italy that the contract award of OPL 245 to Shell and ENI, did not follow Nigerian legal provisions.…

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Switzerland set to sue Nigeria over 2018 oil tanker seizure

Apr 4, 2019

Authorities in Switzerland have begun planning legal action against the Nigerian government for seizing and detaining a Swiss-flagged oil tanker in January last year. Reports by various online maritime websites said San Padre Pio and four of its original 16 crewmembers, all of whom are Ukrainian nationals, had since remained under Nigerian government custody in…

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Lekoil provides update on application for a declaration regarding Ministerial Consent on OPL 310

Apr 1, 2019

LEKOIL (AIM: LEK), the oil and gas exploration, development and production company with a focus on Africa, provides an update on OPL310 (the “Block”) with reference to the Company’s Application for a Declaration regarding Ministerial Consent (“Consent”) filed at the Federal High Court, Lagos on March 26, 2018. Further to LEKOIL’s announcement on 8 February…

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