Oando Completes $783 Million Acquisition of Eni's Subsidiary, Nigerian Agip Oil Company Pledges to optimise assets to boost Nigeria's oil output
Emmanuel Addeh in Abuja
Oando Plc, one of Nigeria’s leading
indigenous energy solutions providers, yesterday announced the successful acquisition of Eni’s Nigerian subsidiary,
Nigerian Agip Oil Company (NAOC) for $783 million. This significant milestone, achieved
in a signing ceremony in London, it said, marked a new era for the Nigerian energy sector, describing it as a watershed
moment for indigenous oil and gas players. Oando stated that 68 years after
the discovery of oil in Oloibiri, it is Continued on page 5
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Bloomberg: Dangote Oil Refinery Increasingly Skipping US Crude for Local Supply Facility set to start petrol output in September, IIR says Emmanuel Addeh in Abuja Nigeria’s Dangote mega-refinery is taking more of the country’s
own oil for processing, while inflows from the US appear to be waning, Bloomberg has reported.
The plant is set to import just over four-fifths of its feedstock from domestic sources in the third quarter, data compiled
by Bloomberg showed. That compares with less than threequarters in the prior quarter, according to tanker-tracking data
and information from traders. Oil prices were pressured last month on reports that the plant planned on re-selling some
of the US barrels it previously purchased, underscoring the Continued on page 5
Tinubu: Ariwoola’s Leadership in Judiciary Impactful, Enriched Nation’s Jurisprudence Says he’s epitome of hard work, selfless service Swears in Kekere-Ekun today, urges her to carry on baton passed by predecessor Retired CJN seeks implementation of justice summit's decisions Advise governors to obey Supreme Court judgement on LG autonomy, Fagbemi tells state AGs Deji Elumoye and Alex Enumah in Abuja President Bola Ahmed Tinubu, yesterday, congratulated the retiring Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, saying his leadership of the judiciary has been impactful and inspiring for the country's jurisprudence. Tinubu described Ariwoola’s sojourn on the bench as a testament to the reward for hard work, dedication, and service to country and humanity.
Ariwoola, on his part, observed that implementation of the recommendations of a recent Justice Sector Reforms Summit would go a long way in addressing many of the challenges confronting the courts and the judiciary, as a whole. Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, called on AttorneysGeneral of states to advise their respective governors to obey the Continued on page 5
BIG WIN AS OANDO SEALS AGIP DEAL... L-R: Wale Tinubu CON, Group Chief Executive, Oando PLC, and Guido Brusco, Chief Operating Officer, General Director of Natural Resources, ENI; at the signing ceremony for the acquisition of the Nigerian Agip Oil Company (NAOC) in London, United Kingdom ... yesterday