Justice John Tsoho of the federal high court, Abuja has ordered that Oil Prospecting License, OPL, 245, be temporarily forfeited to the federal government pending the conclusion of investigations into the $1.1 billion Malabu Oil deal scam.
Minister of state for petroleum resources, Ibe Kachikwu, on Monday met with Claudio Descalzi, the Chief Executive Officer of one of the major International Oil Companies operating in Nigeria.
A week after he was charged by the Economic And Financial Crimes Commission, EFCC, in Abuja, Italian authorities have indicated their intention to file criminal charges against a former minister of petroleum, Dan Etete, for his involvement in the $1.1 billion Malabu oil deal.