Reps stop auction of $1bn oil assets

The House of Representatives on Wednesday urged the Nigerian Petroleum Development Company (NPDC) to suspend the planned auction of the Oil Mining Leases (OML) 11 assets.

This followed the adoption of a motion of urgent national importance moved by Hon. Victor Mela at the plenary in Abuja.

In his presentation, Mela said the oil field under OML 11 was formerly operated by the Shell Petroleum Development Company (SPDC) joint venture.