Oil tycoon, Michael Prest to pay ex-wife £17.5m divorce settlement, UK court rules

Former wife of Nigeria’s oil tycoon, Michael Prest, Yasmin, on Wednesday, won a United Kingdom Supreme Court ruling giving her the right to force...

Enugu Disco affirms ownership of Aba electric firms

Interstate Electrics, winner of the Enugu Electricity Distribution Company, Enugu Disco, has said that the lease agreement of April 28, 2005, that purportedly granted...

Federal Government set to tackle Aturu’s deregulation suit

Having been caught unaware at the lower court, the federal government has fortified its legal team to challenge the decision of Justice Adamu Bello...

New laws needed to grow power sector investment

An energy law expert, Ayodele Oni, has called for new laws to create more incentives for investment in the “power value chain.” He stated...

The Nigerian Production Sharing Contract: An Overview

The Production Sharing Contract (PSC) was widely introduced in 1993 to address some of the issues faced by the Joint Operating Agreement (JOA) and...

The Evolution Of Upstream Contracts In The Nigerian Oil And Gas Industry

Nigeria’s oil industry has always struggled with the challenge of devising appropriate legal regimes and fiscal policies aimed at maintaining the balance between meeting...

Protecting The Interests Of Parties To A Production Sharing Contract: A Look At Stabilisation...

According to Taverne, the production sharing contract (PSC) is the oldest form of risk contract and has been utilised within the petroleum industry for...

An Introduction To Joint Operating Agreements – Part 2

Non Operators The non operators are active investors who, through the Op-com, exercise overall control and supervise the joint operations of the parties. The major...

An Introduction To Joint Operating Agreements – Part 1

It is a well known fact that economic activities such as oil and gas exploration are fraught with high costs and extreme risks. Thus,...

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