The Nigerian National Petroleum Company Limited (NNPCL) has applied to a High Court of the Federal Capital Territory, Abuja, to stop its ongoing legal action against several subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission.
In a motion filed on June 11, 2024, by their legal counsel Afe Babalola & Co., the NNPC requested the court to grant leave for discontinuance and to strike out the suit, with the provision to re-list it should the settlement process fail.
It stated that the application is part of a broader effort to finalize a settlement agreement involving the divestment of 100% interest in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Offshore Limited.