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Supreme Court to Decide Chevron Oil Block Case Jan 29

Supreme Court to Decide Chevron Oil Block Case Jan 29

By Editor

Supreme Court to Decide Chevron Oil Block Case Jan 29

Barring any last-minute change, the Supreme Court of Nigeria expects to deliver judgment on January 29, 2016, in a case involving oil giant Chevron Nigeria, Britannia-U Nigeria Ltd, and Seplat Petroleum Development Company over the disputed sale of three oil blocks — Oil Mining Leases (OMLs) 52, 53, and 55.   The dispute arose after Chevron allegedly refused to transfer ownership of the oil blocks to Britannia-U, which claimed it outbid other firms.   It is worth recalling that on December 13, 2015, a Federal High Court sitting in Abuja granted an interim injunction preventing Chevron from assigning OMLs 52, 53, and 55 to any of the unsuccessful bidding companies, including Seplat, after Britannia-U won the bid in September 2013.     —   Let me know if you want it more concise or formal!    

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