FG Sues NNPC, Agip, 2 Others A Legal battle has begun to recover huge funds lost to alleged under-remittance and diversion of oil/gas royalties and taxes by some major oil companies. The Federal Government has sued four oil companies, accusing them of not being transparent in...

The Senate has asked the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC) to halt further action on the planned concession of the Port Harcourt Refinery to AGIP and OANDO. The upper chamber also set up a seven-man investigative panel led...

Ruling on two separate applications filed by Shell Oil Exploration Nigeria Ltd and AGIP Oil seeking to set aside the order made by the Federal High Court Abuja on January 26, 2017, which granted temporary forfeiture of the Oil Prospective Licence (OPL 245) block...

The Board of Directors of Eni(Nigeria Agip Exploration Limited) yesterday said the transactions which resulted in the auctioning of $1,616,690,656.78 Malabu oil block were not fraudulent. The oil firm said it based its position on the outcome of forensic investigations into the block. It disclosed that...

The Shell Nigeria Exploration and Production Company (SNEPCO) and Nigeria-AGIP Exploration Ltd have asked a Federal High Court in Abuja to set aside an order for the forfeiture of the OPL 245. The chairman of the Economic and Financial Crimes Commission (EFCC) had in an...

... Stakeholders Seek Investigation Into Unremitted Funds The Nigerian National Petroleum Corporation and AGIP have been fingered in non-remittance of more tha $14 billion to the federation account. This is just as Stakeholders in the extractive sector have called on the Economic and Financial Crimes Commission (EFCC)...