Oil & Gas

Nigeria’s Former Chief Of Army Staff, Gen.Alli Is Dead

– Rtd General Chris Alli By Bunmi Onakan The statement released by the Army has announced the death of former Chief of Army Staff, Major General Alli (retd), died after a brief illness on Sunday, November 19, 2023. Alli, who also served as the Military Governor of Plateau State between August 1985 and 1986, was the COAS between November 1993 and August 1994. Reacting to… []

Otedola Receives $19 million From Ardova Over Sale Of Forte Oil

– Femi Otedola  Following a ruling last October by the London Court of International Arbitration (LCIA), billionaire Femi Otedola has received $19 million in arbitration award over the share purchase agreement (SPA) involving the sale of Forte Oil now Ardova Plc, a source revealed. LCIA however ordered Ignite Investments and Commodities Limited, the special purpose acquisition company of Ardova’s Chairman Abdulwasiu Sowami, to make SPA… []

Mohammed Indimi’s Oriental Energy Dragged To Court Over Alleged US$4.1million Debt

-Mohammed Ndimi Over an alleged indebtedness of USD4,143,856.70, an offshore drilling company, Borr International Operations has dragged, Oriental Energy Resources Limited company before a federal high court, sitting in Lagos south west Nigeria, demanding for the sum of US$ 4,143,856.70 million, being an alleged outstanding approved and unpaid invoices for the drilling services rendered in accordance with Contract for the provision of Jack-Up Drilling Unit… []

-Abdullahi Haske

Top Magnates, Emeka Offor, Orjiako, Atiku’s In-law, Abdullahi Haske, Battle For Addax’s Oil Blocks

Following its decision to leave Nigeria, Addax Petroleum, part of China’s state-owned Sinopec group has created a stiff competition as Nigeria’s local oil magnates are waging a ferocious battle, part of it before the Nigerian Federal High Court, to gain control of its production blocks. Lagos business circles are being kept in suspense by the battle for control of the 25,000 bpd Nigerian production blocks… []