Page 17 - AfrOil Week 25 2021

AfrOil NEWS IN BRIEF AfrOil

DOWNSTREAM a misunderstanding over the request for daily Geneva, Switzerland on June 28.
stock records by the Department of Petroleum On June 23, at the University of Houston,
DPR clarifies request Resources (DPR). This development follows an attendees are invited to watch a panel discussion
online publication on allegations of extortion on Gabon’s hydrocarbon exploration opportuni-
for daily stock record against the DPR by the Independent Marketers ties. The Minister of Petroleum, Gas and Mining
Association of Nigeria (IPMAN), Suleja/Abuja will talk on the bid round itself, and potential
The Department of Petroleum Resources (DPR) branch, on the stock request. bidders will learn about the available sub-surface
has clarified its decision to request for daily “We want to state for the records that request data and receive geological insight.
stock records from members of the Independ- for daily stock of products supplied is a statu- The final stop will be either Geneva or Paris,
ent Petroleum Marketers Association of Nigeria tory regulatory requirement for any retail outlet on June 28, 2021. Details will be published as
(IPMAN). license holder, which enables DPR to provide soon as they are confirmed.
IPMAN, Suleja/Abuja Unit, had threatened accurate petroleum products consumption data PGS, June 18 2021
to embark on an industrial action over alleged for the country. This regulatory oversight is at no
extortion by officials of the DPR, with the Chair- cost to the retail outlets.
man of the unit, Yahaya Alhassan, saying that “The provision of the daily stock report, MOVES
DPR’s request for daily transaction records from which is also applicable to petroleum products
filling stations was unacceptable. depots also enables DPR to provide investment LEKOIL announces
“IPMAN has no other alternative other than guide to investors in line with its role as a busi-
instructing our members not to load from Suleja ness enabler and opportunity house for the oil directorate change
depot in Niger State to express our frustrations and gas industry. The Department wishes to
after all efforts to make DPR officials desist from inform all marketers that all applications and LEKOIL, the oil and gas exploration and produc-
unethical practices failed,” he stated. applicable statutory fees for retail outlet oper- tion company with a focus on Nigeria and West
But a statement by the Head, Public Affairs ations have been migrated online ... in further- Africa, today announces the resignation of Aisha
of DPR, noted that the attention of the regula- ance of the federal government’s ease of doing Muhammed-Oyebode, Non-Executive Director,
tory agency had been drawn to the misunder- business policy. with immediate effect.
standing over the request for daily stock records. “The Department charges all marketers to The Company notes that further to the
“This development follows an online publication report any noticeable infraction or perceived announcement on June 3, 2021, and the dis-
on allegations of extortion against the DPR by illegality by our officers, as we will continue to missal of Olalekan Akinyanmi for corporate
the Independent Marketers Association of Nige- engage all our stakeholders in ensuring energy governance breaches, it is pleased to note that
ria, IPMAN, Suleja/Abuja branch on the stock security for Nigerians.” Akinyanmi has confirmed his resignation as a
request. We want to state for the records that DPR, June 21 2021 director of the Company.
request for daily stock of products supplied is a The Company confirms that the Board of the
statutory regulatory requirement for any retail Company now consists of Anthony Hawkins
outlet license holder, which enables DPR to pro- FINANCE (Executive Chairman), Al Tindall Jr. (Non-Ex-
vide accurate petroleum products consumption ecutive Director), Tom Richardson (Non-Ex-
data for the country. This regulatory oversight is Victoria Oil and Gas raises ecutive Director) and Marco D’Attanasio
at no cost to the retail outlets,” DPR said. (Non-Executive Director).
Commenting on the Board changes, the Com-
DPR, June 22 2021 $7.5mn for Matanda drilling pany’s Executive Chairman, Anthony Hawkins,
DPR comments on need Victoria Oil & Gas, the Cameroon-based gas said: “Given that Ms. Muhammed-Oyebode
and condensate producer and distributor, has continues to serve as Chair of LEKOIL Nigeria,
for daily stock record entered into a definitive financing agreement this change is appropriate and the Board now
with Meridian Capital to raise maximum gross accurately reflects the Company’s shareholder
from marketers proceeds of $7.5mn through the issue of unse- base and its vision for the Company.”
cured loan notes. The proceeds of the Facility
LEKOIL, June 18 2021
The Department for Petroleum Resources will be utilised for general working capital pur-
(DPR) yesterday clarified that its request for poses, including long lead items for the proposed
daily stock record from petrol retail outlets and well on the Matanda licence.
depots across the country is a statutory require- Roy Kelly, CEO, commented: “We are
ment and is at no cost to the oil marketers. delighted and appreciative that our major share-
In a statement in Abuja, Head of Public holder is backing our efforts to resolve legacy
Affairs of DPR, Paul Osu, who was reacting to an issues and increase our working capital. The use
allegation of extortion leveled against the petro- of such funds includes helping us progress our
leum industry regulator, disclosed that the daily very prospective Matanda licence, in which we
stock record helps it in providing investment have a 75% interest prior to state back-in.”
guide to investors and also in providing accurate Victoria Oil & Gas, June 18 2021
consumption data of petroleum products. INVESTMENT
He called on oil marketers to report any Final roadshow events for Gabon licensing
infraction, extortion and acts of illegality perpe- round announced
trated by any of its staff in the discharge of their The final events in the Gabon 12th Licensing
duties. Round roadshow will take place in Houston,
He said: “Our attention has been drawn to Texas on June 23, and either Paris, France, or

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