Camillus Eboh
NNPC renews OML 118 with Shell, Total, Exxon, Eni
The Nigerian National Petroleum Corp renewed Oil Mining Lease 118 with the local subsidiaries of Shell, Total, Exxon and Eni for another 20 years, the West African country’s state oil firm said in a statement on Tuesday. The deal signals the end of “long-standing disputes over the interpretation of the fiscal terms of the production-sharing contracts” between the investors in the field, the statement said. The Nigerian government will immediately recognise revenues of $780 million from the signing of the agreement, “while it would also free the parties from over $9 billion in contingent liabilities,” the statement said. The deal was signed between NNPC, Shell Nigeria Exploration and Production Company, Total Exploration and Production Nigeria Limited, Esso Exploration and Production Nigeri...
Families of kidnapped Katsina schoolboys fear time running out
Families of more than 300 kidnapped Nigerian schoolboys worried they may be brainwashed or held for years as security forces combed a vast forest on Wednesday for armed captors possibly from the jihadist Boko Haram movement. According to an unverified audio clip, the Islamist group – whose name means “Western education is forbidden” – was responsible for last week’s raid on an all-boys school in the town of Kankara in northwestern Katsina state. Parents fear time may be running out: Boko Haram has a history of turning captives into jihadist fighters. “They will radicalise our children if the government does not act fast to help us rescue them,” said trader Shuaibu Kankara, crying as he spoke from home. His 13-year-old son Annas was among those abducted from the Government Science school on...
