Connect with us
Advertisment

society

Another Oil Lawsuit Against Shell Alleges Fraud, Deceit, Misrepresentation

Published

on

Shell

Another Oil Lawsuit Against Shell Alleges Fraud, Deceit, Misrepresentation

…As DPR Awards Kugbo West Marginal Field In OML 29 To 7 Waves Petroleum

…Aiteo Seeks Over $2 billion in General, Other Collateral Damages

Advertisment

The controversy surrounding the sale of OML 29 by Shell Petroleum Development Company of Nigeria to Aiteo Eastern Exploration and Production Company Limited in 2014 may be far from being over as Aiteo has again dragged Shell to court over what it alleged as “fraud, deceit and misrepresentation” in the sale.

 

Advertisment

Another Oil Lawsuit Against Shell Alleges Fraud, Deceit, Misrepresentation

 

In a suit, FHC/ABJ/C8/738/2021, dated 27 July 2021 and filed before a Federal High Court in Abuja, Aiteo is accusing Shell of not fully disclosing the true position of the oil wells to it at the time of the sale, despite receiving the full amount required for the sale.

Advertisement

Describing Shell’s action as “fraudulent, deceitful” and a “misrepresentation,” Aiteo is seeking, among others, the payment of over $2 billion from Shell in general and other collateral damages as a result of the alleged lies and deceit at the time of the sale.

Shell, which sold its stake in OML 29 to Aiteo in 2014, is accused of transferring the Kugbo West and Okiori Marginal Fields to the Department of Petroleum Resources without disclosing this to Aiteo during the negotiations that led to the purchase of the asset.
Trouble started with a letter dated September 16, 2021, and titled, ‘2020 Marginal Field Bid Round Award Of Kugbo West Marginal Field Located In OML 29 to 7 Waves Petroleum Limited’, from 7 Waves Petroleum Limited, informing Aiteo that a section of the controversial OML 29 now belongs to 7 Waves, courtesy of the 2020 Oil Bid Round conducted by the Department of Petroleum Resources (DPR).

The letter signed by Mr. Daniel Alabi, Managing Director, 7 Waves Petroleum Limited, stated in part:

“7 Waves Petroleum Limited actively participated in the 2020 Marginal field bid round conducted by the Department of Petroleum Resources [DPR] and emerged as the awardee with 100 per cent equity interest in Kugbo West Marginal Field in OML 29 upon payment of the statutory signature bonus. The field would be jointly operated with our partner ‘Multiplan Nigeria Ltd’.
“Our firm would be glad to discuss and engage with Aiteo Eastern Exploration and Production Company Limited being the lease holder for OML 29 with the underlying objective of executing the required Farmout Agreement thus (to) enable our firm commence field development activities essential to meet the timeline set by the DPR.

“We would be glad to set up an introductory meeting to discuss the next steps, kindly notify our firm of a suitable date and time. Thank you for the assistance, we look forward to a mutually beneficial and long-lasting working relationship.”

Aiteo had earlier received the rude shock when DPR notified it of the new development in a letter dated 3rd August 2021 and signed by Edu Inyang for Director/CEO, DPR.

The letter titled, ‘2020 Marginal Field Bid Round Award Of Kugbo West Marginal Field Located In OML 29 to 7 Waves Petroleum Limited’, copy of which was sighted by THEWILL, stated in part: “Kindly be informed that Kugbo West Marginal Field located in OML 29 has been awarded to 7 Waves Petroleum Limited (7 Waves) following the 2020 Marginal Field Bid Round exercise. The award was accordingly communicated to 7 Waves through our letter DPR/tt86/vol.1/269/98 dated 3rd May 2021.

“The award letter, among others, specified that the awardee negotiate and conclude a Farm-out Agreement with the lease holder of the Oil Mining Lease {OML) 29 within ninety (90) days.

“Consequently, you are hereby requested to commence negotiation of the Farm-out Agreement of Kugbo West Marginal Field with 7 Waves, as the company has met the conditions for the award of the field. It is expected that the negotiation will be concluded within the time specified in paragraph 2 above.”

Responding to the development, Aiteo moved to the court, accusing Shell of not informing it that part of the OML 29 had actually been ceded to the Nigerian National Petroleum Corporation (NNPC), its joint partner for the oil wells, as settlement for other undisclosed obligations.

Apparently miffed by the disappointments it has been meeting with the entire OML 29 since its purchase from Shell in 2013/2014, Aiteo is seeking not only the payment of the sum of $2,135,250,000 that would have been accrued from commercial exploration and other activities if the deal had gone well but also a refund of the sum of $46, 200,000 being the payment made to Shell for the controversial portion of the oil wells that has now been allocated to 7 Waves.

Efforts to get the Media Relations Manager of Shell, Mr Bamidele Odugbesan, to comment on the latest development proved futile when filing this report on Friday as phone calls made to his phone number did not go through.

Recall that bubble had burst for Shell as a court in The Netherlands, early in the year, compelled it to compensate two Nigerian farmers for damages over 2004/2005 oil leaks. Its alleged age-long game of cheating and exploiting technicalities in the production and evacuation of crude oil to allegedly short-change not only the Federal Government, but also local operators in the oil and gas business, were also busted.

And despite all justifications and defence, Shell was also fingered in a messy missing crude oil scandal by local regulator, the Department of Petroleum Resources (DPR) through unapproved metering system, which it allegedly used to misappropriate crude and shortchange local operators.

Advertisment
Continue Reading
Advertisement

society

Primate Ayodele’s Prophecy Fulfilled As Deadly Flood Hits UAE, Kenya, Burundi (VIDEO)

Published

on

Niger: One Week After Primate Ayodele’s Warnings, Bandits Attack Nigerian Soldiers (VIDEO)

Primate Ayodele’s Prophecy Fulfilled As Deadly Flood Hits UAE, Kenya, Burundi (VIDEO)

 

Advertisment

 

If only leaders of nations are committed to listening to God-given instructions and warnings, the world would be a better place free of unnecessary chaos and panic but the incessant ignoramus attitude towards divine instructions by leaders make people become endangered in their own world.

Advertisment

God has blessed us with vessels that he speaks through, he has provided us with prophets like Primate Ayodele who on a daily basis shares the mind of God with mankind. Through vessels like Primate Ayodele, God warns presidents of countries ahead of time against unpleasant happenings but at all times, these warnings are ignored and sometimes, citizens sacrifice their lives because of the obstinacy of their leaders.

There is currently an issue of flooding globally which has led to the death of several people, displacement of thousands, destruction of properties worth billions of dollars and panic across continents but these could have all been avoided if leaders of the countries had listened to Primate Ayodele when he warned them in 2023 and early 2024.

The United Arab Emirates, a nation that had never recorded any heavy rain fall until a few weeks ago, is still counting losses and struggling to get back on its feet due to a deadly flooding that swept through the country.

Advertisement

The rainfall, which flooded streets, uprooted palm trees and shattered building facades, has never been seen in the Middle Eastern nation since records began in 1949. In the popular tourist destination Dubai, flights were canceled; traffic came to a halt and schools closed.

One-hundred millimeters (nearly 4 inches) of rain fell over the course of just 12 hours on Tuesday, according to weather observations at the airport – around what Dubai usually records in an entire year, according to United Nations data.

The rain fell so heavily and so quickly that some motorists were forced to abandon their vehicles as the floodwater rose and roads turned into rivers.

Meanwhile, Primate Ayodele had warned first in 2022 that he foresees climatic problems in the world which would cost a lot of money, lives and properties. He revealed then that the issue of flooding will come up in places that it has never happened before. He called on world leaders not to take climatic problems with levity because it will turn out to be very serious.

These were his words:

‘’I am seeing water and ecology problems, floods in Africa and many places that it hasn’t happened before … .natural catastrophe is imminent in 2023/2024. The issue of climatic problems must be taken very seriously, they must not joke with it….what we are saying will cost the world a lot of money, lives and properties..’’

@primateayodele

#primateayodele #iescworldwide #world #cnn #EU #europe #european #politics #peace #safe #SAFETY #food #water #climatechange

♬ original sound – Primate Ayodele

In his 2024 prophecy to the United Arab Emirates, Primate Ayodele called for prayers against disasters that will cause problems in the country.

These were his words:

‘’UNITED ARAB EMIRATE: The Emirate should pray against any disaster that will cause problems in the country. I foresee an unexpected incident in the Emirate that will require the people to be more careful than ever before.’’

Unfortunately, the prophecy has been fulfilled with the unexpected disastrous flooding that has shut down activities in the highly revered United Arab Emirates.

In the same vein, Kenya is currently battling with the effects of flooding that swept through almost half of the country.

At least 32 people have been killed and two are missing after flash floods swept as a result of the flood. Some 103,500 people in all have been affected.

Kenya has registered heavy rain since mid-March but downpours have intensified over the past week, leading to mass flooding. The Kenyan Red Cross says it has carried out over 188 rescues since the onset in March.

Some roads in the Kenyan capital of Nairobi were closed Wednesday and several neighborhoods remained submerged after another day of heavy rainfall.

In Primate Ayodele’s 2024 prophecies to the nation, he called on Kenyans to pray against flooding and cases of collapsed buildings.

These were his words

‘’KENYA : The spirit of God says Kenyans must pray against assassinations and the killing of any governor. I foresee there will be bomb scares and killings. They must pray against floods and cases of collapsed buildings. The spirit of God says the efforts of the Kenyan President William Ruto will be troubled and not appreciated. He should pray not to encounter a crisis in his government Cabinet. He must be careful against protests even as health workers will go on street protests in Kenya.’’

Similarly, People in Burundi are struggling to cope with flooding after months of heavy rains, with hundreds of thousands being displaced and many homes and schools damaged.

The relentless rain has resulted in the level of water in Lake Tanganyika rising considerably, causing chaos for communities living along its shores.

Lake Tanganyika’s rising waters have invaded the port of Bujumbura, Burundi’s economic capital, disrupting business there and elsewhere in the country.

This has also fulfilled the prophecy of Primate Ayodele warning African countries that there will be flooding and other natural disasters.

Primate Ayodele has always said that he doesn’t celebrate the fulfillment of his prophecies and doesn’t pray that they come to pass but world leaders have to start following divine instructions for the sake of their citizens and in order to avoid calamities like this.

Advertisment
Continue Reading

society

Justice For Chinemerem Anosikwa: Cut Down in His Prime

Published

on

Justice For Chinemerem Anosikwa: Cut Down in His Prime

 

Advertisment

 

In yet another tale of the unending brutality of the Nigerian Police Force, a member of visiting 12 PMF squadron identified as Inspector Aliyu Taofeek has sent one Mr. Patrick Chinemerem to his early grave over an undisclosed dispute.

Advertisment

Justice For Chinemerem Anosikwa: Cut Down in His Prime

 

According to reports, the killer policeman, Inspector Taofeek who was one of the policemen attached to Skymall Supermarket located in Sangotedo, Ajah area of Lagos State, stabbed Chinemerem to death and took to his heels after committing what’s clearly a premeditated murder.

Advertisement

 

 

 

According to reports, the fleeing policeman has been arrested and in custody according to the statement released by the Lagos Police Command. The sad incident which occurred a few days ago has sparked an outrage among members of the public who are demanding justice for Chinemerem. It would be recalled that police brutality led to the massive ENDSARS protest across the country a few years ago. Apparently, nothing much has changed since then, the latest murder of an innocent man by Inspector Taofeek is a reminder of the brutality embedded in the Nigerian Police Force.

 

 

In order to forestall another avoidable death, Nigerians are calling for swift investigation and prompt prosecution of Inspector Taofeek.

Advertisment
Continue Reading

society

Eko Cares: Group Commends Sanwo-Olu’s Compassionate Leadership On Social Interventions

Published

on

Eko Cares: Group Commends Sanwo-Olu’s Compassionate Leadership On Social Interventions

 

Advertisment

 

Governor Babajide Sanwo-Olu of Lagos State has garnered praise from The Mandate Movement for his decisive actions in the face of economic challenges with the launch of the ‘Eko Cares’ initiative. The initiative, aimed at alleviating the hardships faced by residents, particularly the economically vulnerable, has been lauded as a significant step towards improving livelihoods in the state.

Advertisment

 

 

 

Advertisement

The Chairman of The Mandate Movement, Abdullahi Ayinde Enilolobo, conveyed his gratitude to Governor Sanwo-Olu through a member of the group’s Central Working Committee (CWC), Prince Adewale Arogundade, for spearheading various interventions aimed at mitigating the adverse effects of inflationary trends. A total of 300,000 households are expected to benefit from the inaugural program.

According to Enilolobo, “This holistic approach shows Governor Sanwo-Olu’s commitment to addressing the multifaceted challenges facing Lagosians and ensuring that no one is left behind in the pursuit of progress. Additionally, measures such as free ante-natal care, reduced transportation fares, and support for small businesses underscore the government’s dedication to improving the quality of life for all residents.

“We at The Mandate Movement commend Governor Sanwo-Olu for this initiative put together for the residents of Lagos, which also collorates with the wonders of the Asiwaju Bola Ahmed Tinubu-led administration. This clearly shows that the All Progressive Congress (APC) remains a beacon of hope for Lagosians, and Nigerians at large.”

Residents across Lagos have begun to laud the ‘Eko Cares’ initiative, stating that the government has shown determination to prioritize the well-being of its citizens, embodying the principles of empathy, inclusivity, and resilience in the face of adversity.

 

Eko Cares: Group Commends Sanwo-Olu's Compassionate Leadership On Social Interventions

Advertisment
Continue Reading

Cover Of The Week

Trending