• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

ENI and Vitol ordered to pay 30% of revenue to registrar

4 years ago
in Energy, highlights, Home, home-news, latest News
1 min read
0 0
0
77
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

ENI and Vitol ordered to pay 30% of revenue to registrar

ENI Ghana Limited and Vitol Upstream Ghana Limited, operators of the Sankofa Oil Field have been directed to pay 30% of its oil revenue to the registrar.

This directive was given by an Accra Commercial High Court.

The payment which is estimated to be about $40 million monthly, shall start from June 25, 2021 (the date of the original ruling) and continue every month afterwards until the substantive matter is determined.

Upon receipt of the payment, the Registrar will then pay the same into an escrow account and furnish the court and the parties with the payment records.

Justice Mariama Sammo issued the ruling on Monday, January 24, 2022, in Accra, following an application by Springfield Exploration and Production Limited, Operators of the West Cape Three Points (WCTP) Block 2, for the court’s clear interpretation of its ruling.

Read: PHF receives $433m petroleum revenue in H2 2021 – BoG report

RelatedPosts

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

Senegal and Mercedes-Benz Partner to Build Trucks

Springfield’s application was precipitated by ENI and Vitol’s failure to comply with the ruling of June 25, 2021.

On June 25, 2021, the court ruled in favour of SEP’s application to freeze revenues from Eni and Vitol from the sale of crude oil from the Sankofa field, pending determination of their substantive case filed in July 2020.

The companies have been in dispute since an April 2020 directive was issued by the Energy Ministry to unitise the Afina and Sankofa fields to ensure optimal recovery of the resources in the common reservoir in the interest of all the parties involved, including the state.

Tags: ENI Ghana Limited and Vitol Upstream Ghana LimitedSpringfield Exploration and Production Limited
No Result
View All Result

Highlights

INTERPOL Recovers Over $90 Million From African Crime Syndicates

Djokovic and Gauff Gear Up for US Open with Strategic Focus

CHAN: Morocco and Madagascar Advance to Semi-Finals, Ending Kenya and Tanzania’s Dreams

Chelsea Thrash West Ham 5-1, Increasing Pressure on Former Boss Graham Potter

Lithium Price Surge to be Short-Lived, Analysts Say

Gold Fields Targets 20% of Global Output from Tarkwa Mine by 2026

Trending

Business

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals

August 23, 2025

Trump Weighs Using $2 Billion in CHIPS Act Funding for Critical Minerals The Trump administration is considering...

Moving Gold, Moving Economies: The Rise of Migrant Women in Zimbabwe’s Mining Sector

August 23, 2025
Von links nach rechts: Général Birame Diop, Verteidigungsminister ; Franziska Cusumano, CEO Mercedes-Benz Special Trucks (Daimler Truck AG) ; Cheikh Ibrahima Cisse, Präsident GTS Senegal  From left to right: Général Birame Diop, Minister for the Armed Forces (Defence) ; Franziska Cusumano, CEO Mercedes-Benz Special Trucks at Daimler Truck ; Cheikh Ibrahima Cisse, President GTS Senegal

Senegal and Mercedes-Benz Partner to Build Trucks

August 23, 2025

INTERPOL Recovers Over $90 Million From African Crime Syndicates

August 23, 2025

Djokovic and Gauff Gear Up for US Open with Strategic Focus

August 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.