Mart Resources Inc MAUXF

News yet more uncertainty as to effect on MMT

[zenda]

Nigeria's NNPC to review production-sharing contracts and joint ventures

16 Aug 2015

The new head of the Nigerian National Petroleum Corp (NNPC) said on Sunday he will review all production-sharing contracts and joint venture agreements with its partners 'to reflect current day realities in the global oil and gas industry'.

Emmanuel Kachikwu, appointed two weeks ago to head the state oil company which has been accused of corruption and mismanagement, said he would remit all crude oil proceeds due to the Nigerian government and plug all revenue leakages in the upstream, midstream and downstream oil sectors.

Original article link

Source: Reuters

[zenda]

Also posted on IV as interested in all reactions but total silence on both BB's.My first reaction was that this could  either be very positive as all those pipeline losses should disappear or negative if MMT is seem as part of the problem and is punished as being seen as aligned to the old Jonathan regime..In any event it makes a buyout unlikely in the near term and adds very much to the

[radcat]

It was under Obassanjo the marginal fields program was implemented, not Jonathan. Mart is not "alligned to the old Jonathan regime" since Goodluck had nothing to do with the creation of Marginal Fields. Mart entered the Umusadege agreement with Midwestern and Suntrust in 2006. President Term of office Political party (at time of election)

[zenda]

Nice picture!! Cannot believe that anyone could ignore Jonathan influence in what has happened but one person clearly does. Where did all that money go if not on his watch?