allafrica.com 29 Jan, 2021 10:00 am

Nigeria: Afreximbank Disburses U.S.$250 Million in Support of TNOG's OML 17 Acquisition

The African Export-Import Bank (Afreximbank) has disbursed $250 million of the $1.1 billion in support of the acquisition of 45 per cent stake in Oil Mining Licence (OML 17) onshore oilfield by Trans Niger Oil and Gas Limited (TNOG).

We congratulate Heirs Holdings for keeping the Africa flag flying." Also, the Chairman of Heirs Holdings, the parent company of TNOG, Mr.Our acquisition of OML 17 and important related assets, significantly advances Heirs Holdings' strategic vision of creating Africa's leading integrated energy company.1 billion in support of the acquisition of 45 per cent stake in Oil Mining Licence (OML 17) onshore oilfield by Trans Niger Oil and Gas Limited (TNOG).

Following the acquisition, TNOG will now operate the OML 17 onshore oilfield on behalf of the Nigerian National Petroleum Corporation (NNPC), which owns the remaining 55 per cent working interest.Professor Benedict Oramah, President of Afreximbank, said: The statement quoted the President of Afreximbank, Oramah, as saying that "This transaction further underscores Afreximbank's commitment to ensuring that indigenous African companies are able to play a more dominant role in the operations of specialized oil and gas assets in an industry hitherto dominated by the International Oil Companies".

$1,400 stimulus checks set for House vote today. Here’s what to know

Gradually easing lockdown restrictions

Kaman Corp (KAMN) Q4 2020 Earnings Call Transcript

Massive Victory! Massive Awakening! Switzerland/US Military Rejecting Gates’ Poison – Watch LIVE

The vegan councillor making a mark in Taranaki dairy country

Glaukos Corp (GKOS) Q4 2020 Earnings Call Transcript

India comes out of recession with 0.4 percent growth in 3rd quarter

Tiger Woods moved to Cedars-Sinai after car crash

Parish Proud - Spring Cleaning

Even 15 years later, the memory of slain UND student Dru Sjodin lives on

U.S. no longer insists on 'safe harbor' clause in global tax reform - Germany

MassMutual Reports Excellent 2020 Results, Including Strong Financial Performance and Strategic ProgressMassMutual Reports Excellent 2020 Results, Including Strong Financial Performance and Strategic Progress

Envestnet Inc (ENV) Q4 2020 Earnings Call Transcript

Edinburgh born medic has turned her eyes to the stars as she trains to be an emergency space doctor

CARPHA increases testing capacity for COVID-19 Virus

ADM to Present at Bank of America 2021 Global Agriculture & Materials Conference

Short-Sellers Lose Another $2 Billion on GameStop as Independent Traders Strike Again

'High-value' bikes stolen from shed in Inveresk

Core sector output rises 0.1% in January

Protestors at South L.A.'s Historic Leimert Plaza Park shut down Production of a Shoot for Season 2 of the Apple TV+ Series 'Truth Be Told'

Harry Potter and the Culture of Cancellation

Nigeria: Afreximbank Disburses U.S.$250 Million in Support of TNOG's OML 17 Acquisition

Uganda: NRM Chairman Shot Dead, Five Injured in Entebbe Mayoral Election Chaos

As Climate Threats Rise, Now's the Time to Adapt

Africa: Climate Adaptation Summit Hears Dire Warnings but Misses Action to Match

Africa: Poor Lives Matter, but Less

Uganda: Bobi Wine and the Birth of Regional Politics

Kenya: Student Unrest Sweeps Across Schools

Kenya: Odinga Attacks 'Corrupt' Jubilee

Kenya: Taxpayers to Pay Extra Sh2 Billion to Maize Millers

Kenya: Turkana Rolls Out Plan to Promote Value-Addition in Gemstone Mining

Kenya: Somalia Renews Tiff With Its Neighbour Kenya

Kenya: Experts Baffled By Unique Home Ownership System in Coast

Kenya: All Set for Police, KDF Cross Country Meets on Friday

Kenya and Tanzania to Conduct Rhino Census

Kenya: Lake Nakuru Fish Unfit for Consumption

Kenya: Machakos Senatorial By-Election Race Hots Up

Kenya to Set Up First Police Leadership Training College

West Africa: Many Strategies but Little Progress Securing the Sahel

Kenya: Leaders Clash Over Kapedo Security Operation

Kenya: Trial of Man Accused of Throwing Tear Gas at Wajir Rally Resumes on Febeuary 8

Kenya: Artistes and Fans Mourn Mighty Salim

Kenya: Drug Abuse in Schools Has Gone Up

Kenya: MP William Kamket and Lotela to Have Date With DCI

Kenya: Madogo Turns Into Ghost Town as Clashes Leave 2 Dead

Kenya Sees Six New Covid-19 Deaths, With 141 New Cases

Nigeria: As Covid-19 Fuels Youth Unemployment, Nigeria Doles Out Jobs

Nigeria: President Buhari Replaces Top Military Chiefs in Sudden Reshuffle

Ethiopia Sets Pre-Condition for Dialogue With Sudan

What's Next for President Felix Tshisekedi Without Joseph Kabila?

Ethiopia: Press Statement of Office of the Representative of the Secretary-General On Sexual Violence in Conflict

Kenya: Somalia Lifts Ban on Miraa Imports From Kenya

Nigeria: What to Know About Lucky Irabor, Nigeria's New Chief of Defence Staff

Kenya: Geoffrey Kamworor Back After Injury Lay-Off

Kenyans in Diaspora Reject Proposed Investment Bill

Liberia: Weah's Liberia Makes Limited Progress in Education, Infrastructure, Sport

Kenya: Nakuru Leaders Urge Kenyatta to Revive Building of Itare Dam

Kenya: Obiri, Kandie Ready for KDF Cross Country Championships

Africa: We Are Facing a Climate Emergency, Warns UN Chief

Kenya: National Government Cuts Counties Funding to Sh326.5 Billion

Kenya: Wars Over Cattle Turning Young Boys Into Killers

Kenya: Millers Call for Abolishment of Tax to Lower Wheat Flour Prices

Kenya: Monthly Injection to Replace Daily Pills for HIV Treatment

Kenya: Mysterious City Market Cross Covered Again

UN Responds As Thousands Are Caught in the Wake of Devastating Cyclone Eloise

Kenya: Taxes, Politics Biggest Threat to Kenya's Economic Recovery

Africa: Global Economic Recovery Remains Precarious in Post-Covid-19 Years

Odinga Says It's Payback Time From Mt Kenya

Kenya: Brace Yourself for More Taxes, High Debt Burden in Sh3 Trillion Yatani Budget

Kenya: Kananu to Chair First City Hall Top Staff Meeting in Months

Kenya: Governors Talks With Striking Nurses Hit Deadlock

Kenya: Zoo Out to Pile More Misery on Gor Mahia

Kenya: 24 in Hospital After Deadly Clash on Kenya, Somalia Border

Uganda: Maj Zizinga Will Be Buried With Military Honours

Uganda: Court Quashes Kwania Vote Recount Case

Uganda: Soldiers Grab Voter Registers From Electoral Commission

East Africa: Why Zanzibar Is Now the 4th Largest East Africa Airport

Uganda: Dark Cloud, Sombre Mood Hover Over Kapyeemi As Bisaka's Body Arrives

Uganda/Cameroon: Odds Stacked Against Cranes As Atlas Lions Stroll in the Douala Park

Kenya: Ugandan IM to Train Kenyan Team Ahead of AOICC