Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » NNPC wades into OML 130 dispute

    NNPC wades into OML 130 dispute

    August 9, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Mele Kyari (m) with representatives of SAPETRO and CNOOC.

    *Commissions new LPG plant in Lagos

    OpeOluwani Akintayo

    Lagos — The Nigerian National Petroleum Corporation, NNPC said it has wadded into the dispute between the China National Offshore Oil Corporation, CNOOC Ltd and South Atlantic Petroleum, SAPETRO over Oil Mining License, OML 130.

    In a tweet on its social media platform, Twitter on Thursday, the state oil firm said it signed a Heads of Terms, HoT, to end the dispute.

    “Today,@NNPCgroup signed a Head of Terms (HoT) with its partners CNOOC & SAPETRO, signifying a major milestone towards the resolution of all disputes related to Oil Mining Lease (OML) 130”, NNPC tweeted on Thursday.

    A HoT is a document which sets out the terms of a commercial transaction agreed in principle between parties in the course of negotiations. It is non-binding.

    Flanked by representatives from CNOOC and SAPETEO, the Corporation’s GMD, Mele Kyari signed the agreement on behalf of the NNPC.

    Both CNOOC Ltd and South Atlantic Petroleum had disagreed over production sharing contract on the mining lease.

    Oil Mining Lease 130 contains fields including Akpo and Egina.

    Meanwhile, earlier on Thursday, the GMD was joined by the Minister of States for Petroleum Resources, Timipre Sylva to officially commission a new LPG plant built in Lagos by Rainoil Limited.

    Related News

    Troops uncover 15km oil theft pipeline in Rivers state

    Nigeria moves to dominate Africa’s trade, inaugurates MSME committee

    NIMASA sets 8-year repayment, presents guidelines, plans amid interest rate concerns

    E-book
    Resilience Exhibition

    Latest News

    InterContinental Energy’s P2(H2) Node™ system cuts green hydrogen costs

    May 12, 2025

    Rivers women demand urgent action against sea piracy

    May 12, 2025

    Troops uncover 15km oil theft pipeline in Rivers state

    May 12, 2025

    ‘Africa must control clean energy future, not just supply raw minerals’

    May 12, 2025

    Nigeria moves to dominate Africa’s trade, inaugurates MSME committee

    May 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.