Shareholders of Lekoil Limited, the oil and gas exploration and production company with a focus on Nigeria and West Africa, have overwhelming approved the company’s option agreement entered into with Savannah Energy Investments. Out of the shareholders with a combined share capital of 437,462,857 ordinary shares, which represents 58 per cent of the issued share capital of the company, 82 …

Lekoil Nigeria Limited has filed a petition in the Grand Court of Cayman Island Court to request the just and equitable winding up of Lekoil Cayman to avert value loss by shareholders of the AIM-listed company. As disclosed by the Chairman of Lekoil Nigeria Limited, Mrs Aisha Muhammed-Oyebode, the petition was filed by Founder and Chief Executive Officer of Lekoil …

Lekoil Limited, the oil and gas exploration and production company with a focus on Nigeria and West Africa, has rejected the announcement on 1st April in which Lekoil Nigeria offered to purchase the Oil Prospecting Licence (OPL) 310 loan. Lekoil Limited also turned down Lekoil Nigeria’s request to repay the outstanding amount under the Savannah Energy Investments Limited convertible facility …

The Minister of Power, Alhaji Abubakar Aliyu has said that the current power situation in the country is caused mainly by shortage of gas. Briefing State House correspondents after a hybrid meeting of the Federal Executive Council on Wednesday, the Minister disclosed that efforts were being made to address the situation, adding that Nigeria had the capacity of 8,000Mw on …