Categories: Business

No Row over Addax Oil Blocks’ Revocation, Nigeria and China Say

The Chinese Ambassador to Nigeria, Mr. Cui Jianchun, and Minister of State, Petroleum Resources, Mr. Timipre Sylva, on Thursday met in Abuja, with both countries agreeing that there’s no row between them.

A statement by the Special Adviser to the minister, Mr. Garba Mohammed, said the two top officials committed to sustaining the excellent relations between their countries.

Among other issues, the statement noted that both parties were of the belief that the recent revocation of some Oil Mining Leases (OMLs) held by Addax Petroleum (a Chinese owned company) was purely a commercial decision and will not have any impact on the excellent relationship between the two nations.

Last month, President Muhammadu Buhari ordered the Department of Petroleum Resources (DPR) to restore four oil mining licences revoked from Addax Petroleum, owned by the Chinese state-run Sinopec.

The petroleum ministry, through the DPR, had revoked the four OMLs, citing the company’s inability to comply with targets and had set up a committee to facilitate the takeover of the assets by new operators- Kaztech/Slavic Consortium.

But a statement from the presidency, signed by presidential spokesman, Mallam Garba Shehu, later announced the restoration of the leases to Nigeria National Petroleum Corporation (NNPC), which is in a production sharing contract with Addax Petroleum, thereby overruling the ministry’s position.

Apparently to mend fences, Jianchun after concluding the discussions, extended an invitation to the minister to visit China.

Sylva accepted the invitation and promised to pay a visit to the Asian country later in the year.

Emmanuel Addeh and Adedayo Akinwale in Abuja

Follow us on:

AriseNews

Recent Posts

President Tinubu Orders Probe Into Prosecution Of Minors From #EndBadGovernance Protests

President Tinubu has ordered an investigation into the arrest, prosecution of minors involved in #EndBadGovernance…

9 hours ago

Musk’s Lawyer Defends $1M-a-Day Giveaway, Denies Illegal Lottery Claims

Musk's $1M giveaway is under legal scrutiny in a Pennsylvania court case as it targets…

9 hours ago

Badenoch Unveils Shadow Cabinet with Jenrick As Shadow Justice Secretary, Patel As Shadow Foreign Secretary

Kemi Badenoch has appointed former rivals Jenrick, Patel, and Stride to senior roles in her…

9 hours ago

Boeing Workers Vote On New Contract To End Seven-Week Strike

Boeing workers voted Monday on a new contract to end a seven-week strike

9 hours ago

Former Delta Governor Ifeanyi Okowa Arrested By EFCC For Alleged N1.3 Trillion Diversion

EFCC has arrested ex-Delta governor Ifeanyi Okowa for alleged misuse of oil derivation funds, diverting…

10 hours ago

Search for Missing Persons Continues After Deadly Valencia Floods

Barcelona faces severe flooding as search and rescue efforts continue.

12 hours ago