OPL 245

NIGERIA on Tuesday lost a $1.7 billion lawsuit against US investment bank, JP Morgan Chase over the transfer of proceeds from the sale of Oil Prospecting Licence (OPL) 245 in 2011.  Nigeria alleged that JP Morgan was “grossly negligent”…

Malabu Oil and Gas Limited on Monday approached a Federal High Court in Abuja with a fresh suit challenging the re-allocation of the Oil Prospecting License (OPL) 245 otherwise known as Oil bloc to Shell Nigeria Exploration and Production…

The last might not have been heard over the Malabu Oil deal as Malabu Oil and Gas on Friday dragged the Federal Government and six others before the Federal High Court sitting in Abuja over re-allocation of OPL 245 to the Federal…

Shell Nigeria Exploration and Production Company Limited and Nigeria Agip Exploration Limited on Tuesday asked the Federal High Court, Abuja to discharge the interim forfeiture of Oil Prospecting License (OPL 245) to the Federal Government…