ENI's hopes for smooth ride at ICSID over OPL 245 dashed by new stakeholders
Despite the Italian major's efforts to exclude them, three NGOs will now be involved in its arbitration proceedings with Nigeria, through which it hopes to prove that Abuja unfairly prevented it from developing the oil block.
Savannah Energy unaffected by row with junta over ExxonMobil asset transfer
Its weeks-long legal battle with Chad's government has not impacted the British junior's bottom line. Even without its own employees on site, it continues its activities as if the transfer from ExxonMobil were not in dispute.
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Perenco hurries to sell Atora before Carlyle seals sale of its share
Franco-British oil junior Perenco wants to quickly sell its share in Atora field in Gabon for $50m, indicating it does not wish to work with the future owner of Assala Energy's majority share, which Carlyle is in the process of selling.
Pressure mounts on CEMAC to relax foreign exchange rules
The main foreign investors in the Economic and Monetary Community of Central Africa are alarmed by the regional body's foreign exchange regulations, considering them to be too tough. But despite intense lobbying, a relaxation of the rules looks unlikely, the central bank having set itself ambitious objectives for foreign currency reserves.
Key witness fails to show during $11bn P&ID vs Nigeria hearings
The High Court in London has ended six weeks of hearings in an $11bn dispute between the government of Nigeria and engineering firm P&ID during which it was revealed that a key witness in the affair, James Nolan, has fled Nigeria over fears for his safety.
West Africa LNG Group set to sign gas terminal convention with Conakry
Negotiations between the Guinean state and the Texan company West Africa LNG Group over the construction of a vast terminal for the importation, processing and distribution of liquefied natural gas gathered speed at the beginning of March.