The Nigerian National Petroleum Company Limited (NNPC) has submitted a request to the High Court of the Federal Capital Territory, Abuja, for the cessation of its current legal proceedings against multiple branches of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The request, submitted on June 11, 2024, is one step in a larger initiative to complete a settlement deal transferring full ownership of Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Offshore Limited.
NNPC’s representative legal firm Afe Babalola & Co. has filed an application seeking court approval to withdraw the case and dismiss it, while reserving the option to reinstate it in the event that settlement negotiations are unsuccessful.
