*Iyabo Obasanjo-Bello benefited from deal *How DPR shot itself in the foot OpeOluwani Akintayo 19 July 2017, Sweetcrude, Lagos -…
Browsing: Oil Prospecting Licence
The representative of one of the major investors in OPL 2001, stated that many Niger Delta indigenes were pained by the action of the president in revoking the licences of citizens from the oil-rich region without carrying out thorough consultations.
The OPL 245 was said to have been originally issued by the Federal Government to Malabu Oil and Gas Limited under shady circumstances before the subsequent transfers that ended with Shell and Agip, which the EFCC described as fraudulent.
The ruling could not go on as earlier scheduled by the court following three fresh applications filed by Malabu Oil, seeking to be joined in the matter as well as for an opportunity to be a party in the already heard applications filed by Shell and Agip.
Gwani said in the course of investigation, his panel, among others, uncovered how oil blocs were awarded by persons other than the President or Petroleum Minister, as prescribed by the Petroleum Act.