In recent years, international oil companies (IOCs) operating in Africa have been moving to sell off some of their assets and relocate to more profitable, environmentally and socially friendly operational landscapes. While some considered moving from one jurisdiction to another within the continent, others contemplated a complete exit. About 26 oil blocks were to change hands in the process, amid …

The Bayelsa State Government has resolved to sue international oil companies operating in the state over unmitigated oil pollution for over six decades. Governor Douye Diri disclosed this on Monday while addressing an expanded State Executive Council meeting to receive the final report of the Bayelsa State Oil and Environment Commission at Government House, Yenagoa. He stated, “After a review …

A Senate committee, on Thursday, threatened to report some oil and gas companies in the country to the Economic and Financial Crimes Commission (EFCC) if they are found culpable of misappropriating a Central Bank of Nigeria (CBN) intervention loan of N135 billion. The Chairman of the Senate Committee on Gas Resources, Hon. Agom Jarigbe, issued the threat when the beneficiary companies appeared before the …