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Davido to pull up soon in Osun State as the 2022 gubernatorial election draws closer

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http://landmantimesng.com/nnpc-positioned-to-lead-africa-in-energy-transition/

NNPC positioned to lead Africa in energy transition - Landman Times NG …seeks transition that addresses poverty The Nigerian National Petroleum Corporation (NNPC) Limited on Monday gave an account of how it has positioned to lead Africa in energy transition. According to the Chief Executive Officer and Group Managing Director, Malam Mele Kolo Kyari, the Corporation h...

The statement last week from Iraq’s Oil Minister, Ihsan Abdul Jabbar, that the newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent stake in the supergiant West Qurna 1 oil field for up to US$350 million is likely to leave China delighted, the U.S. irritated, and Iraq’s oil industry still unable to achieve any of its key oil output goals. The last iteration of the INOC – created in 1966, before it was effectively closed down in 1987, with its remnants incorporated into the Ministry of Oil (MoO) – was founded on a mandate that included elements that seemed geared towards enabling malpractice of one kind and another. In particular, Article 12 of the law relating to the establishment of INOC contained, as highlighted by the former senior economist with Iraq’s MoO, and subsequently head of the Oslo-based Development Consultancy & Research, Ahmed Mousa Jiyad: “The most ridiculous, disintegrative, destructive and unconstitutional aspects of this law […providing] the legal cover for formalised corruption and kleptocracy by assigning the three funds [‘Citizens Fund’, ‘Generations Fund’, ‘Reconstruction Fund’] at least 10 per cent of the revenues of the oil exports at the discretion of the INOC’s board of directors.” The power of the INOC board of directors, though, could extend further, he added at the time, as under the 2018 version of the law, revenues generated from the export and sale of oil and gas ‘will be considered as financial revenues for INOC’. “This is a flagrant violation of the Constitution, which states that oil and gas belong to the Iraqi people and not a financial return to one public company,” said Jiyad. The full scope of the powers of this new version of the INOC has not yet been fully laid out, which means that no constraints are in place.

China Is the only winner in his huge Iraqi oil field - Landman Times NG The statement last week from Iraq’s Oil Minister, Ihsan Abdul Jabbar, that the newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent stake in the supergiant West Qurna 1 oil field for up to US$350 million is likely to leave Ch...