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Friday, October 22, 2021

Court fines Ondo Govt over Ororo Oil Field

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A Federal High Court in Lagos Monday fined the Ondo State Government following its failed bid to join a suit challenging the Federal Government’s revocation of the Ororo Marginal Oil Field license.

The Ororo field, discovered in 1986, is located within OML 95 in shallow waters offshore Ondo State.

It is owned by Owena Oil and Gas Ltd, with Ondo State being one of its shareholders.

Following the revocation of the license in April, Ondo State brought an application seeking to join suit filed by Owena.

The Minister of Petroleum Resources, Department of Petroleum Resources (DPR), and Guarantee Petroleum Company Ltd are first to third respondents in the suit.

When the application was heard in October, Ororo Oil Field counsel, Kemi Pinheiro, SAN, who led Bisi Makanjuola, contended that the case challenging the license revocation was totally different from a shareholders’ case.

He prayed the court to dismiss the state’s application.

In his ruling on Monday, Justice Muslim Hassan upheld Pinheiro’s argument and dismissed the application.

The judge held that the state’s action was unnecessary because only a company that has suffered injury can bring an action to redress the same and not its shareholders.

The court adjourned further proceedings in till January 14.

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