Aiteo

Happy Eid Kabir.

AITEO's participation in the crude-for-refined-product swap program was premised upon its “having fulfilled all requirements precedent to being nominated and gaining the objective confidence of the management of NNPC on its strong competence and ability to deliver on the said contracts as and when due”.

“Never at any point has Aiteo unfairly exploited its commercial relationship with NNPC under the Swap or OPA contracts,”

Aiteo explains role in crude oil swap arrangement | The Guardian Nigeria Aiteo explains role in crude oil swap arrangement

"Also speaking, the Managing Director of SPDC and Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, described the event as a major step towards the fulfilment of “the nation’s aspiration of growing indigenous participation in the up¬stream sector of the oil and gas industry.” He described OML 29 as one of the biggest onshore oil blocks that Shell has ever di-vested in the country."

Aiteo, Shell sign MoU on acquisition of OML 29 equity

“To finance our asset acquisition and operations, Aiteo has raised facilities from a consortium of banks, including Citibank, First Bank, Zenith and Union Bank. These creditors have duly subjected Aiteo to corporate governance and due diligence tests..."

Aiteo ‘meeting obligations on OML 29’ - The Nation Nigeria AN oil company, Aiteo, declared yesterday that it is delivering on its obligations on Oil Mining Lease (OML) 29.

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