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JUST IN: Court Adjourns Peter Obi’s Petition Against Tinubu
The Presidential Election Petition Tribunal (PEPC) in Abuja has decided to postpone additional proceedings regarding the petition brought forth by Mr. Peter Obi, the candidate of the Labour Party (LP), who seeks to contest the results of the 2023 presidential election.
Following the resumption of proceedings, Peter Obi and the Labour Party (LP) informed the court that they had engaged in discussions and mutually agreed to request for an adjournment.
This would allow them sufficient time to prepare and exchange the required legal documents related to the case.
During the court session, Obi’s legal counsel, Livy Uzoukwu, SAN, emphasized that numerous processes and motions were still pending and needed to be filed in relation to the case.
Uzoukwu further asserted that the requested adjournment would facilitate a swift and thorough hearing, leading to a prompt resolution of the matter.
“My Lords, we met and agreed that the matter should be adjourned till next week Wednesday, so that when we are coming back, we will be sure that the processes are ripe for hearing..
“We also agreed that before then, we will meet and take decision on documents that are not in contention and documents that are controversial,” Uzoukwu, SAN, added.
In response, the Independent National Electoral Commission (INEC), represented by its lawyer Mr. A. B. Mahmood, SAN, affirmed that the parties involved had indeed convened and reached a consensus to seek an adjournment.
This decision was made subsequent to a brief meeting held on Wednesday afternoon.
Likewise, counsel representing Tinubu and Shettima, Chief Wole Olanipekun, SAN, said the adjournment was necessary “so that when we come on Wednesday all the applications will be ready for adoption,” he added.
Likewise, the legal representative of the All Progressives Congress (APC), Prince Lateef Fagbemi, SAN, expressed his client’s belief that the adjournment would contribute to expediting the proceedings.
Subsequently, after carefully considering the arguments of all parties involved, the five-member panel led by Justice Haruna Tsammani granted the request for adjournment.
The court instructed the parties to identify the key issues that needed to be addressed in the petition.
Consequently, the matter was adjourned to the 17th of May for the continuation of the pre-hearing session, allowing for further deliberations on the case.
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NNPC JV Unveils New Crude Oil Grade ‘Nembe’, Commences Exports With 1,900 Barrels
Precious ADELOLA
The NNPC/Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market.
The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday.
OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in 2014.
The Nembe Crude was previously blended with the popular Bonny Light grade and exported via the Bonny Oil & Gas Terminal.
The unique selling point of the Nembe Crude Oil grade with an API gravity was highlighted by both the Aiteo E & P and NNPC Limited Leadership at the Argus Conference in London.
The Nembe Crude Oil grade also has a low sulphur content and low carbon footprint due to flare gas elimination, fitting perfectly into the required spec of major buyers in Europe.
Two cargoes of 950,000 barrels each of the Nembe Crude Oil grade have since been exported to France and the Netherlands. With its attractive Assay of API 29 and low sulphur content, the Nembe Crude Oil grade commands a premium to the global Brent benchmark.
With the NNPC-Aiteo OML 29 JV back on-stream, Nigeria now boasts of an additional crude oil export of 2 Cargoes at 950,000 barrels each per month and 1.2 Bcf of export gas monthly.
This remarkable achievement signals the commencement of activities at Nigeria’s newest crude oil terminal, the Nembe Crude Oil Export Terminal (NCOET), which was licensed in line with the extant laws and Crude Oil Terminal establishment regulations.
The terminal was conceived as a Floating Storage and Offloading Vessel (FSO) with a storage capacity of two (2) Million Barrels and the ability to offload crude oil to any export tanker from AFRAMAX to Very Large Crude Carriers (VLCC).
It has a loading capacity of 25,000 barrels per hour and will be exporting over 3.6 million barrels of Crude oil monthly at full scale of operation.
Currently, hydrocarbon production from OML 29, which was hitherto constrained due to evacuation challenges owing to the security issues around the Nembe Creek Trunk Line (NCTL) corridor, has now been resolved through a collaborative and creative approach that led to the innovation of the Alternative Crude Oil Evacuation Solution.
The Argus European Crude Conference 2023 in London is a gathering of energy majors, refiners, NOCs, traders, financial institutions, and other representatives from across the global oil markets. The event also provides a critical opportunity for business leaders to connect, discuss, share and learn from one another.
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Nigeria Owes NNPCL US$3.1bn, As Subsidy Hits US$921.5m Monthly
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JUST IN: Tribunal Sacks Gov Uba Sani, Declares Election Invalid
Governor Uba Sani of the All Progressives Congress (APC) was removed from office on Thursday by the governorship Election Petition Tribunal sitting in Kaduna State.
The panel ruled that the state’s 2023 governorship election was invalid.
According to information gathered by Biztellers, the judges avoided the actual auditorium and instead communicated the decision via zoom.
It commanded the holding of new elections in seven wards across four local government units in the State.
Isa Ashiru, a candidate for the Peoples Democratic Party, and the PDP filed the petition.