✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Malami urges Buhari to end fight with Eni, Shell over oil block

A senior Nigerian minister urged the country’s president to end a long-running dispute with Eni SpA and Shell Plc to allow the companies to finally develop a prized deepwater oil license.

Investigations and lawsuits relating to the energy giants’ acquisition of the permit 12 years ago should be halted so Africa’s largest crude producer can “take advantage of the fast-disappearing opportunities in the global oil exploration industry,” Attorney General Abubakar Malami wrote in a letter to President Muhammadu Buhari dated Feb. 6, 2023, and seen by Bloomberg.

Delays to the development of the block have had “negative economic consequences” for Nigeria, he said.

SPONSOR AD

While Buhari’s administration has alleged that much of the $1.1 billion paid by Eni and Shell to the Nigerian government for the rights to Oil Prospecting License 245 was subsequently diverted to bribes and kickbacks, it has suffered high-profile defeats in courts in Italy and the UK.

Eni initiated arbitration proceedings against Nigeria in 2020, accusing the government of breaching its obligations by refusing to convert the permit into one that allows the production of hydrocarbons. [Bloomberg]

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.