Business Court Stops Chevron from Sale of Oil Blocks to Seplat Petroleum, Others -This Day

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A Federal High Court sitting in Lagos has issued an interim junction restraining Chevron Corporation of the United States and its Nigerian subsidiary, Chevron Nigeria Limited (CNL), and their agents from negotiating the sale of Oil Mining Leases (OMLs) 52, 53 and 54, with Seplat Petroleum Development Company (SPDC) Limited or any other bidder, apart from Brittania-U Limited.

The court, presided over by Justice M. N. Yunusa, also issued an injunction restraining Chevron and its agents from declaring Seplat Petroleum Development Company or its agents as the preferred bidder for the oil blocks, apart from Brittania-U Limited, which emerged the highest bidder in the transaction.

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