New operating consortium promises Nigeria better value from 4 oil assets 

•Says DPR did due diligence in choosing it Kaztec Engineering Limited and Salvic Petroleum Resources consortium has promised to offer Nigeria better value in terms of increased revenue, local content boost, and more employment opportunity as they take over the operatorship of the Oil Mining Leases (OMLs) 123, 124, 126 and 137 previously operated by Addax Petroleum.   The new partners also disclosed that they have commenced engagement with Addax to ensure a smooth and amicable transition of operations at the assets. The Kaztec/Salvic consortium stated that the Department of Petroleum…

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Sen. Abe clears self of $650m oil contract scam allegation

A Member of the Board of the Nigerian National Petroleum Corporation (NNPC) and former federal lawmaker, Senator Magnus Abe, has debunked his alleged involvement in a so-called $650 oil contract scam, insisting that it only exists in the imagination of those interested in ripping Nigeria off. Abe, who insisted that he will continue to defend the country’s interest, was reacting to a story titled: “Petroleum Minister, Cronies Plot Kangaroo NNPC Report to Divert $650 million Oil Contracts to Themselves”. In a statement he personally signed, Senator Abe stated that the…

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