The feud between Polaris Bank-led consortium of lenders and Pan Ocean group over N240 billion loan has degenerated with Asset Management Corporation of Nigeria (AMCON’s) takeover of Pan Ocean Oil Gas company with all its assets inclusing Oil Mining Lease (OML) 147. Pan Ocean had accessed funding for the project from the consortium of banks led by Polaris Bank Limited (Former Skye Bank Plc) for the development and production on Oil Mining Lease (OML) 147, which came from OPL 275 in 2014. OML 147 is expected to attain peak…
Read MorePolaris Bank, Pan Ocean’s feud over N240bn loan degenerates + AMCON’s OML 147 takeover
