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...
Nuno Espírito Santo expressed frustration with the current handball law after his Wolves side lost 1-0 at Leicester. Jamie Vardy converted a 15th-minute penalty after Max Kilman was adjudged to have committed an offence inside his own area. Most neutral observers felt that Kilman was hard done by, though there was also general acceptance that referee Anthony Taylor was bound by the most recent interpretation of the law to point to the spot. Speaking after the game, Nuno was wary of criticising the decision. “The referee saw it, but I don’t know. This situation is very difficult to analyse,” the Portugal native said, per the official Wolves website. “It’s not fair to say if it’s the right decision because VAR is not being consistent.” Nuno admitted that the situation has left him at a loss ...
Tunisia president wants debate on new political system, constitutional amendment
Tunisian President Kais Saied called on Tuesday for a dialogue with political parties on creating a new political system and amending the 2014 constitution, which he described as “with locks everywhere”, in an effort to ease the ongoing political crisis. Saied’s comments could pave the way for an end to a months-long political standoff with Prime Minister Hichem Mechichi, who is backed by parliament Speaker Rached Ghannouchi, leader of the moderate Islamist Ennahda party, over powers and political alliances. The Tunisian constitution, approved following the 2011 revolution, has been widely praised as a modernist constitution. But many politicians admit that it includes many controversial chapters and needs amendment. “Let us enter into a credible dialogue… to a new political system and a r...