Tuesday, January 31, 2023
Home World Reps want NPDC to suspend sale of OML 11 asset

Reps want NPDC to suspend sale of OML 11 asset

The House of Representatives has urged the Nigerian Petroleum Development Company (NPDC) to suspend its planned auction of the Oil Mining License (OML) 11 asset.

This followed the adoption of a motion of urgent national importance by Rep Victor Mela (APC-Gombe) at plenary in Abuja on Wednesday.

Moving the motion, Mela said that the oil field under oil mining license 11 was formerly operated by the Shell Petroleum Development Company (SPDC) joint venture.

He said the field had been idle since the company was forced out of Ogoniland in 1993.

Mela said that a court of appeal judgment of August 16, 2021, indicated that the SPDC joint venture lost its right to renewal of the operating license.

He said there were unresolved issues between the government and the host communities of Ogoni, which were fueling resistance and restiveness amongst the people.

He expressed concern over claim that the government was allegedly involved in an arrangement to auction OML 11 asset to Sahara energy ltd, for a paltry sum of $250 million against the $1 billion offered by the SPDC.

He said that there was need to clarify and resolved issues associated with the planned auction among other matters.

The House therefore mandated its committee on petroleum upstream to investigate the planned auction among other matters and report back within four weeks for further legislative action.

RELATED ARTICLES

Fuel scarcity: Oil workers threaten action, want fuel available at approved price

The union in a statement, urged the NMDPRA to compel all marketers and retailers to make the products available at approved price. 

Friesland Campina reconnects to Ikeja Electric after 22 years 

According to the Acting Head of Corporate Communications Ikeja Electric, Kingsley Okotie, the reconnection of Friesland Campina back to the grid was achieved through relentless effort of the Business Optimization team of Ikeja Electric.  

Old Naira exchange: 10 days inadequate to make up CBN’s shortcomings- Expert

Economic analyst, Muda Yusuf, has said that 10 days extension to swap old Naira notes by the Central...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Transcorp Power adds 138MW to national grid, commissions rehabilitated GT Unit 20

Chief Executive Officer, Transafam Power Limited, Engr. Vincent Ozoude, expressed delight about the newly rehabilitated unit, which is able to power up to 100,000 homes in a year. 

Fuel scarcity: Oil workers threaten action, want fuel available at approved price

The union in a statement, urged the NMDPRA to compel all marketers and retailers to make the products available at approved price. 

Friesland Campina reconnects to Ikeja Electric after 22 years 

According to the Acting Head of Corporate Communications Ikeja Electric, Kingsley Okotie, the reconnection of Friesland Campina back to the grid was achieved through relentless effort of the Business Optimization team of Ikeja Electric.  

Egbin Power, Sahara Foundation upgrade Ijede Police station

The project, according to a statement, is in keeping with Egbin Power’s commitment to enhancing infrastructure development, socio-economic growth, and effective policing to promote safety and security in the company’s host communities.

Recent Comments