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Vol 2 (AAC) No 10

Published 1st August 2009


KNOC, KNOC, who is there?

In mid-August, Nigeria's Federal High Court overturned President Umaru Yar'Adua's revoking, in January, of Seoul-based Korea National Oil Company's rights to 60% of Oil Prospecting Licences 321 and 323 in a ruling that proved unexpectedly damning for the presidency and supportive of foreign oil companies. The ruling reinstates the contract awarded to KNOC under former President Olusegun Obasanjo's government.

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