Connect with us

latest

Nigerian Billionaire Arthur Eze’s Oil Licence Revoked By Senegal.

Published

on

Senegalese authorities have withdrawn the offshore exploration licence held by Atlas Oranto Petroleum, a privately owned upstream oil and gas company founded by Nigerian energy entrepreneur Arthur Eze.....KINDLY READ THE FULL STORY HERE▶

The move aligns with Senegal’s tougher regulatory approach under President Bassirou Diomaye Faye, which seeks stricter oversight of the energy sector and aims to ensure that oil and gas licences lead to real investment and production rather than remaining idle.

The government revoked the Cayar Offshore Shallow exploration licence after concluding that Atlas Oranto failed to fulfil critical financial and operational obligations attached to the block.

Granted in 2008, the licence covers roughly 3,600 square kilometres north of the Dakar peninsula and is regarded as oil-prone but largely undeveloped. Despite several extensions, the company reportedly carried out limited exploration activities and did not provide the required bank guarantees.

While seismic surveys identified multiple prospects within the acreage, no exploration wells were drilled during the entire licence period.

In September 2025, under the supervision of the Minister of Energy and Petroleum, Birame Souleye Diop, the ministry formally cancelled the licence, citing repeated breaches of contractual and financial terms.

Industry sources later confirmed that the block recorded little substantive seismic or drilling activity throughout the years it was held by Atlas Oranto.

Following the withdrawal, the Senegalese government repossessed full control of the block, describing the action as part of a broader effort to enforce discipline and apply stricter screening standards to petroleum licence holders.

The decision reflects a wider trend across Africa, where governments are re-evaluating long-standing oil and gas licences that have failed to attract meaningful investment or deliver production.

With increasing pressure to unlock value from natural resources, several countries are moving to reclaim underutilised assets previously allocated during earlier exploration rounds, to prevent speculative holding and ensure tangible economic returns.

The development has renewed scrutiny of Atlas Oranto’s operations across West Africa, where its track record has come under review in several jurisdictions.

In contrast, regulators in Liberia have taken a different route. In September 2025, the Liberia Petroleum Regulatory Authority signed four production-sharing contracts with Atlas Oranto Petroleum International Ltd for offshore Blocks LB-15, LB-16, LB-22 and LB-24 in the Liberian Basin.

Those agreements reportedly included signature bonuses ranging from $12 million to $15 million, alongside proposed investments exceeding $200 million per block.

Advertisement

latest

Insecurity Will Soon Be Defeated, Akpabio Assures Nigerians

Published

on

Senate President Godswill Akpabio has assured citizens that the federal government will soon overcome the nation’s security challenges through a renewed, proactive strategy by security forces.....KINDLY READ THE FULL STORY HERE▶

Speaking in support of President Bola Tinubu’s Renewed Hope Agenda, Akpabio emphasized that safety is vital for economic growth, noting that no local business or foreign investor can thrive in an atmosphere of chaos. He highlighted that security agencies have transitioned from a reactive stance to taking the fight directly to the enclaves of criminals, bandits, and insurgents.

Key highlights from his address include:

  • Collective Responsibility: Akpabio stressed that military hardware alone cannot end criminality, urging citizens to partner with security agencies by providing timely and credible intelligence.

  • Economic and Banking Resilience: He declared that Nigeria’s banking sector has shifted from survival to absolute dominance, becoming one of the safest and most technologically advanced in Africa.

  • Reforms Yielding Results: He credited ongoing bank recapitalisation and financial reforms for ending the era where banks could suddenly collapse and cause depositors to lose their savings.

Ultimately, the Senate President maintained that a combination of proactive security operations, economic reforms, and civic cooperation will drive Nigeria’s path toward lasting recovery and national development.

Would you like this rephrased version adjusted to a specific tone, such as a professional press release or a concise social media post?

Continue Reading

latest

‘So Many In A Cell – Gov Bago Breaks Silence On Death Of 37 Miners In NSCDC Custody

Published

on

Niger State Governor Mohammed Umaru Bago has addressed the tragic deaths of 37 suspected illegal miners in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Minna.....KINDLY READ THE FULL STORY HERE▶

  • Severe Overcrowding: Governor Bago confirmed that NSCDC holding facilities were severely overcrowded, stating that “so many [were] in a cell” designed for a much smaller capacity.

  • Potential Causes Under Investigation: While highlighting the dangerous overcrowding, the governor also pointed to possible poisoning as a contributing factor, citing the victims’ foam-filled mouths and the presence of chemical substances at the arrest site.

  • Accountability and Autopsies: The state government has suspended the NSCDC Commandant and his team. Investigations, including autopsies and toxicology reports, are being conducted by multiple agencies, including the police and DSS.

  • Call for Calm: Governor Bago ordered the closure of the mining site in question and appealed to the public to remain calm and avoid unrest as the investigation proceeds.

Continue Reading

latest

“POLITICAL BLOODSHED: Notorious Gunmen Assassinate Popular Enugu Politician In Midnight Ambush!”

Published

on

Prince Ikechukwu Oloto, a well-known politician in Enugu State also known as Okanga Moo, has been brutally murdered by unknown attackers in Nsukka Local Government Area.....KINDLY READ THE FULL STORY HERE▶

  • The Attack: Oloto was reportedly ambushed and killed on Thursday evening inside his residence located in the Odenigbo area of Nsukka.

  • Confirmation: Social media influencer Sen. Chijinkem Ugwuanyi confirmed the tragic incident on Facebook, stating that the politician was brutally attacked and cut into pieces.

  • Police Status: At the time of reporting, the exact circumstances surrounding the assassination remain unclear, and the Enugu State Police Command has yet to release an official statement.

Continue Reading

Trending