Shell, Etete’s firm renew tussle over oil block

NIGERIA’S messy oil transaction still stinks. The latest row is on the controversial sale and revocation of one of the country’s plum oil blocks, Oil Prospecting Licence (OPL 245) to Malabu Oil and Gas Limited and Shell Petroleum Development Company (SPDC) by the Federal Government between 1998 and 2002. The two firms returned to the trenches over the Presidency’s purported approval that the block should be returned to Malabo, an indigenous company owned by former Petroleum Resource Minister, Chief ...
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Added July 04, 2010
from Guardian News