After months of speculation and mounting pressure, it’s finally here: the government of Nigeria has released the long-awaited PricewaterhouseCoopers (PwC) forensic audit of the Nigerian National Petroleum Corporation (NNPC), the country’s national oil company. It’s not often that the release of a highly technical accounting report makes the headlines—much less grabs the attention of
oil production
Nigerian Court of Appeal Allows Third Party to Challenge Arbitration Award
By Jeremy Wilson on
Posted in Africa, Arbitration
In the recently published Abuja Court of Appeal case of Statoil (Nigeria) Limited & Anor v. Federal Inland Revenue Service & Anor ((2014) LPELR-23144(CA)) (“Statoil”) dated 13 June 2014, the Nigerian court held that a third party had locus standi to challenge an arbitration agreement to which it was not a party.
This…
California Finalizes New Fracking Regulations
By Mark D. Herman on
Posted in Oil & Gas Policy
On December 30, 2014, the California Office of Administrative Law approved permanent regulations issued by that state’s Department of Conservation, Division of Oil, Gas and Geothermal Resources (“Division”) governing fracking. The regulations follow the Division’s final interim regulations (effective January 1, 2014), which we discussed here, and further implement California’s fracking statute (SB 4),…