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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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Heirs Oil& Gas pledges to meet Africa's energy needs


By Akinola Ajibade 

Africa’s integrated energy company has promised to meet the energy needs of Africa, just as it emerged the winner of Project Finance International ( PFI) Award..

The company wins the ‘Africa deal of the year 2021’ following the $1.1 billion financing and acquisition of45% stake in OML 17 in 2021.

“On behalf of the HHOG team, I would like to thank PFI for this great honour which recognises the OML 17 acquisition deal, while also acknowledging the efforts of the entire team involved in the transaction.” said Executive Director, Heirs Oil & Gas, Samuel Nwanze.

The deal, which was announced in January 2021, witnessed Heirs Holdings, the leading African strategic investor, in partnership with affiliated company Transnational Corporation (Transcorp), acquire a 45% participating interest in Nigerian oil license OML 17 and related assets from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited, and ENI.

Acknowledging the award, Chief Executive Officer, Heirs Oil & Gas, Osayande Igiehon said “This great recognition reiterates our commitment to excellence in ourbid to fulfil Africa’s unique energy needs and ensure that Africa’s natural resources are directed toward value creation on the continent.”

The PFI awards is organised by Project Finance International (PFI),a leading source in global project finance reporting, covering all the major sectors, including transport, power, oil and gas, infrastructure and mining.

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