Revocation of Addax OMLs, a commercial decision ― FG

The Federal Government (FG), on Thursday, said the revocation of some Oil Mining Lease(OML) owned by Addax, a Chinese company, was purely a commercial decision.

It said this will not affect the relationship between both countries

The Minister of State for Petroleum, Timipre Sylva, stated this when the Chinese Ambassador to Nigeria H.E CUI Jianchun paid him a visit at the NNPC Towers, Abuja.

According to the duo, there was a need to deepen the existing relationship between both countries even as they affirmed the excellent relations that exist between them.

The Government had in March revoked four OMLs belonging to Addax Petroleum Nigeria Limited.

It said the company had refused to develop over 50 per cent of the assets resulting in a loss of revenue.

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“Please do not talk to my father. He is yet to come to terms with the death of his son. It is a most tragic experience. How does one quantify the loss of a dear brother? My brother was killed like an animal by two herdsmen. His offence was that he asked them to drive their cows off his already cultivated farmland,” Bisi Olaosepin, whose brother was hacked to death, struggled to hold back his tears as he relayed to Sunday Tribune the horrible experience that culminated in the passage of his brother…Revocation of Addax OMLs, a commercial decision ― FG