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MRS OIL NIGERIA - NEWS
This follows a frustrating two-year process and multiple court cases which earlier restrained the FG from offering licenses to winners of marginal oil fields.
The Nigerian equities market reversed its bullish stance to close bearish during the week as the All-Share Index lost 0.14% in the week ended 24th June 2022.
Shell has asked the Federal High Court in Yenagoa to stay proceeding in the N700 billion oil spill compensation suit filed by members of Bayelsa community.
The Nigerian equities market maintained its bullish performance during the week as the All-Share index gained 0.55% in the week ended 10th June 2022.
The ASI gained by 2.09% from 52,979.96 points recorded as of the end of last week to close the week at 54,085.30 index points
A Yenagoa Division of the Federal High Court has restrained the Federal Government from issuing licences on marginal oil fields in the Niger Delta.
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 13 basis points.
There is insufficient evidence to predicate the offences upon which a criminal charge was brought before the Court.
If there is any section of the Nigerian economy that will react to a rising oil price, then that section is the Nigerian Stock Market.
Company accused of importing adulterated fuel has insisted that its vessels imported fuel that met NNPC product specifications.
The NNPC has explained how the adulterated petrol was imported into Nigeria from Belgium undetected as well as the oil companies involved.
MRS has reacted to allegations of being responsible for the importation and distribution of substandard and contaminated petrol in the country.