Legal & Regulatory

Court strikes out N7b oil spill suit against Mobil

Feb 26, 2014

A Federal High Court sitting in Port Harcourt, Rivers State, South-South Nigeria, has struck out a N7 billion  suit filed against Mobil Producing Nigeria Unlimited (MPN) for alleged oil spillage. In the Suit Marked: FHC/PH/CS/362/2012; Alabo Tolofari & Ors. v Mobil Producing Nigeria Unlimited, the plaintiffs had  claimed the sum of  N7 billion     against…

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CSOs demand passage of Petroleum Industry Bill

Feb 25, 2014

A coalition of 10 civil society organizations has called on the National Assembly to immediately enact the Petroleum Industry Bill (PIB). They made the call yesterday in Abuja while addressing newsmen about their planned rally to shore up support for the bill slated for today. In their joint statement read by the National coordinator of…

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AGF gives NNPC clean bill over alleged unremitted oil revenue

Feb 21, 2014

The Attorney General of the Federation and Minister of Justice, Mohammed Bello Adoke, has said that the Nigerian National Petroleum Corporation, NNPC, can legitimately transfer its participating interest in Oil Mining Leases, OML, to its wholly owned subsidiary, the Nigerian Petroleum Development Company,NPDC. Adoke  provided the legal position during the investigative hearing of the Senate…

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Mark urges speedy passage of Petroleum Industry Bill

Feb 20, 2014

Senate President, David Mark, yesterday, charged relevant Senate committees handling the Petroleum Industry Bill,PIB, to expedite action towards its passage. This came on the heels of Senate resolution to probe the controversial kerosine subsidy in the country. To this end, the Senate will today begin debate on a motion to probe payment of subsidy on…

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Marine firm seeks order to halt repatriation of N2bn

Feb 20, 2014

A Nigerian marine service provider, Phoenixtide Offshore Nigeria Limited, has sued its foreign partner, Tidewater Marine International Incorporation, before a Federal High Court in Lagos over alleged fraudulent activities which had deprived the country billions of naira in tax. As the first step in halting the alleged fraudulent activities of the foreign firm, the plaintiff…

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Kerosene subsidy: Parties await legal interpretation

Feb 20, 2014

The Central Bank of Nigeria and the Nigerian National Petroleum Corporation have publicly disagreed over the legality of the multi-billion dollar kerosene subsidy regime. DAYO OKETOLA examines the divergent positions ahead of a legal interpretation today The Governor, Central Bank of Nigeria, Mallam Lamido Sanusi, on Tuesday, February 4, 2014, had, before the Senate Committee…

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Malabu Oil Block: House recommends restoration of ownership to Abacha, ors

Feb 19, 2014

The House of Representatives ad hoc committee  that looked into the controversy surrounding the  Malabu Oil and Gas deal has recommended that the son of late Head of State, Muhammad Abacha and his partners, Kweku Amafegha and Pecos Energy Limited, be allowed to repossess Oil Prospecting Licence (OPL 245).  The licence, which was said to…

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NIMASA seeks alternative in arbitration for maritime industry

Feb 18, 2014

Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi, has said that alternate dispute resolution is a tool that has the potential to enhance the growth of the Nigerian maritime sector. He stated this while playing host to the Maritime Arbitrators Association of Nigeria (MAAN) in Lagos, decried the pace at…

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Federal High Court rules in favour of NLNG

Feb 14, 2014

A Federal High Court sitting in Lagos and presided over by Justice MB Idris has struck out an application filed by Global West Vessel Specialist Limited (GWVSL) for stay of proceedings of the substantive suit filed by the Nigeria Liquefied Natural Gas (NLNG) Limited, pending the determination of GWVSL’s appeal against the High Court’s earlier…

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Legislators protest recommendation to hand back Malabu to Mohammed Abacha, others

Feb 14, 2014

House of Representatives members Thursday protested the recommendation of the chamber’s ad hoc committee on transaction involving the federal government and Shell/Agip oil companies and Malabu Oil and Gas Limited in respect of OPL 245 to return the oil block to Mohammed, son of the late Head of State, Gen. Sani Abacha, and others. The…

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