Heirs Holdings expands portfolio in Oil and Gas, acquires OML 17 from SHELL Petroleum,TOTAL and ENI

Tony Elumelu’s Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of […]

AA Oil owner,Aliyu Abubakar to stand trial over $500m bribe scandal

Italian judge has ordered a Nigerian businessman and AA Oil boss, Aliyu Abubakar, to stand trial for alleged international corruption relating to a Nigeria oil graft case involving Eni and Shell, a judicial source and his lawyer said on Wednesday. Milan prosecutors allege that Abubakar, a reclusive billionaire and chairman of AA Oil, played a […]