spot_img

Chrome producers and ferrochrome...

Chrome ore producers, represented by the Ferro Alloy Producers Association (FAPA), are aligned...

Harmony awards Metso key...

Harmony has selected Metso to deliver the key equipment for its Eva Copper Mine Project in Queensland, Australia. The Eva Copper Mine Project is the first greenfield...

Exxaro divests FerroAlloys to...

Exxaro Resources has announced the successful completion of the sale of its entire...

Weba Chute systems delivers...

More than a decade after installation, the custom engineered transfer chutes supplied by...
HomeOIL AND GASReps ask NNPC...

Reps ask NNPC to suspend sale of oil mining license

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, Mr. 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.

Mr. Mela said that a court of appeal judgement 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 unity arrangement to auction OML 11 asset to Sahara energy ltd, for a paltry sum of 250 million dollars against the 1 billion dollars 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.

Get notified whenever we post something new!

Continue reading

$1.4 Billion Deal to Modernize Tazara Railway Boosts Copper Trade in Southern Africa

China, Zambia, and Tanzania have signed a landmark $1.4 billion agreement to modernize the Tanzania–Zambia Railway Authority (Tazara) line, a crucial transport corridor for moving copper and other resources from southern Africa to global markets. The deal, officially announced...

Maputo Port Sets New Records in Cargo and Rail Handling

The Port of Maputo has achieved unprecedented operational milestones, marking a strong recovery and solidifying its position as a key regional logistics hub. According to Neusa Monjane Saranga, Commercial Director of Maputo Port Development Company (MPDC), July volumes exceeded all...

Lobito Atlantic Railway Moves 15,000 Tons of Sulphur to DRC, Strengthening Copperbelt Supply Chains

The Lobito Atlantic Railway (LAR) has completed the transport of 15,000 tons of sulphur to the Democratic Republic of Congo (DRC), reinforcing the corridor’s growing role as a logistics backbone for Africa’s mining and bulk cargo industries. The shipment, carried by the ANEMON vessel, was discharged...