Court awards N82b damages against Mobil, NNPC over oil spills, neglect
The Federal High Court in Abuja has awarded N81.9 billion cumulative damages against Mobil Producing Nigeria Unlimited and its joint venture (JC) partner, the Nigerian National Petroleum Corporation (NNPC).
Our involvement in xenophobia - Part 2
However, from late 1950 up till 1970, the world cocoa price witnessed a continuous decline, falling by over 75% as of 1969. This engendered an increase in the cost of living and import shortages.
NNPC settles $833.57m arrears with Mobil
Nigerian National Petroleum Corporation (NNPC) yesterday said it has paid Mobil Producing Nigeria (MPN) $833.57 million cash-call arrears. The corporation had, two years ago, signed cash-call repayment agreement with its joint venture partners to defray arrears within five years. Group Managing Director (GMD) of NNPC, Dr. Maikanti Baru, stated last night that the feat was…
Communities lose N24.3b oil spill suit against Mobil
Indigenes of Kampa communities in Eastern Obolo local council of Akwa Ibom State have lost a N24.3 billion suit filed against Mobil Producing Nigeria after the Court of Appeal, Calabar Division struck it out. In the suit filed on their behalf by one Chief Benjamin Pepple at the Federal High Court, Uyo Division, they had alleged…
Political turbulence triggers more equity slump
Turbulence in the political arena has sparked massive dumping and induced sell pressure on the equity sector of the Nigerian Stock Exchange as stock market investors lost N257 billion...
Nestle, Mobil, others top stock market N124billion loss
Trading on the floor of the Nigerian Stock Exchange (NSE), continued on a decline yesterday, occasioned by price losses impacted on major highly capitalised stocks, especially Nestle, and Mobil, resulting to a further slide in market capitalisation by N124billion.
Seplat, Mobil others top stock market N76 billion loss
Price losses yesterday continued to outweigh gains on the trading floor of the Nigerian Stock Exchange (NSE), as most blue-chip companies, especially Seplat and Mobil...
Three suspected militants arrested in Akwa Ibom as ultimatum expires
Three suspected militants have been arrested by the Akwa Ibom State Police command in their hotel rooms in Eket.