U.S FIRMS BATTLE NNPC, CAC OVER OWNERSHIP OF PAN OCEAN OIL

Interocean entities, comprising Interocean Oil Development Company (Nigeria) and Interocean Oil Exploration Company (Nigeria), companies incorporated under the laws of Delaware in the United States, have dragged the Nigerian National Petroleum Corporation (NNPC), Corporate Affairs Commission (CAC) and one Dr. Festus Fadeyi to both the Federal High Court in Lagos and the Court of Appeal, also in Lagos, over the ownership of Pan Ocean Oil Corporation of Nigeria (Panocean).

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