NUPRC: Oando-Agip Deal, Other IOC Divestments Done Transparently, In Compliance With PIA
<p>The NUPRC has highlighted its strict adherence to regulatory frameworks in IOC divestments, reaffirming its commitment to transparency.</p>
<p>The post <a rel="nofollow" href="https://www.arise.tv/nuprc-oando-agip-deal-other-ioc-divestments-done-transparently-in-compliance-with-pia/">NUPRC: Oando-Agip Deal, Other IOC Divestments Done Transparently, In Compliance With PIA</a> appeared first on <a rel="nofollow" href="https://www.arise.tv">Arise News</a>.</p>
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its commitment to transparency and regulatory compliance in overseeing the divestment activities of International Oil Companies (IOCs) operating in Nigeria.
In a press statement released on Monday by the Head of the Public Affairs Unit, Olaide Shonola, the Commission provided detailed updates on several high-profile divestments, emphasising that all transactions were conducted in strict adherence to the Petroleum Industry Act (PIA) 2021 and other applicable legal frameworks.
The NUPRC highlighted the successful divestments of Nigerian Agip Oil Company (NAOC) to Oando Petroleum and Natural Gas Company Limited (Oando PNGCL) and Equinor Nigeria to Chappal Energies, noting that these approvals were granted only after thorough evaluations.
“The approvals given to the NAOC-Oando and Equinor-Chappal divestments were in accordance with the Petroleum Industry Act (PIA) 2021, defined regulatory framework, and standard consent approval process set by the Commission under the PIA,” Shonola said.
The statement went on to highlight the Commission’s meticulous approach to ensuring that all regulatory and legal requirements were met before any divestment could proceed. Specifically, the NUPRC detailed the multi-stage process involved in the NAOC-Oando transaction, which included technical evaluations, commercial negotiations, and the final ministerial consent.
“The process was conducted in compliance with the requirements of relevant legislations, regulations, and guidelines including the Petroleum Act, Petroleum Industry Act, Petroleum Drilling and Production Regulations, and the Upstream Asset Divestment and Exit Guidance Framework,” the statement read.
The NUPRC then elaborated on its thorough due diligence process, which involved evaluating potential assignees based on factors such as technical capacity, financial viability, legal compliance, and environmental responsibilities.
“The Commission’s thorough evaluation and due diligence process, anchored on the Seven Pillars of the Divestment Framework, ensured that potential assignees were capable and compliant with legal requirements and that all legacy liabilities were identified and appropriately managed,” the statement noted.
Shonola also addressed the ongoing divestment by Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Offshore Limited, a transaction that has attracted significant public attention. Initially, the Commission withheld its consent due to MPNU’s failure to obtain a waiver of pre-emption rights and the necessary consent from the Nigerian National Petroleum Corporation (NNPC).
However, following the resolution of these issues, the NUPRC has resumed its due diligence on the transaction, as the statement clarified, “MPNU’s application to the Commission for consent is currently undergoing due diligence review, under the same Divestment Framework applied to the NAOC-Oando and Equinor-Chappal divestment.”
The NUPRC further emphasised that the public’s right to know remains central to its operations, aiming to build trust by providing transparency in the high-stakes divestment processes and ensuring that stakeholders are fully informed about the Commission’s activities.
“NUPRC, as an organisation guided by law and professionalism, will continue to pursue its statutory mandate in a legal, independent, technical, commercial, and professional manner, operating under the authority of the PIA,” the statement concluded.
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<img src="https://www.mtlblog.com/media-library/a-western-themed-bar-in-montreal-right-interior-of-snowbird-tiki-bar-in-montreal.jpg?id=58243101&width=980"/><br/><br/><p>What's better than enjoying a great cocktail with friends on a Saturday night in Montreal?</p><p>Sipping one in a bar that makes you forget you're in Montreal at all.</p><p>As Canada's unofficial <a href="https://www.mtlblog.com/tag/montreal-nightlife" target="_blank">nightlife capital</a>, the city is packed with trendy bars. But some go beyond just pouring drinks — they deliver full-on escapism. From neon-lit arcades to Southern-style honky-tonks, these immersive spots turn a simple night out into an experience.</p><p>Whether you want to time-travel, step into a movie scene, or just sip something strong in a setting with serious <em>vibes</em>, these <a href="https://www.mtlblog.com/tag/montreal-bars" target="_blank">Montreal bars</a> prove that atmosphere is everything.</p><h3>Snowbird Tiki Bar</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/C5Jvt2Rgqxz/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/C5Jvt2Rgqxz/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: 💸 – 💸💸</p><p>Theme: Tropical</p><p>Address: 6388 St-Hubert, Montreal, Quebec</p><p>Why you need to go:</p><p>This neon-lit tropical hideaway is a go-to spot in La Petite-Patrie, and it's easy to see why. Entering Snowbird Tiki Bar feels like stepping into a trippy 60s surfer movie, complete with glowing totems, bold murals, and drinks served in decorative ceramic mugs. </p><p>If you're looking to escape Montreal's winter chill or just sip on a strong, rum-soaked cocktail in a place that feels like a fever dream of the South Pacific, this is the spot to do it.</p><p><a href="https://www.snowbirdtikibar.com/" target="_blank">Snowbird Tiki Bar website</a></p><h3>Vol de Nuit</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CdYApGJoSFS/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
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<a href="https://www.instagram.com/p/CdYApGJoSFS/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price:💸 – 💸💸💸</p><p>Theme: Vintage cabaret</p><p>Address: 14 Rue Prince-Arthur E, Montreal, Quebec</p><p>Why you need to go: </p><p>At Vol de Nuit, the line between past and present blurs in the best way possible. With its moody lighting, intricate fresco ceiling, and a touch of Parisian cabaret flair, this place feels like a secret hideout for night owls who appreciate a little old-school glamour. The cocktails are strong and sophisticated and the deep red walls cast just the right glow, giving the whole space an effortlessly romantic, almost cinematic vibe. </p><p>Throw in some live music and you may find it hard to leave. </p><p><a href="https://www.instagram.com/cabaret_voldenuit/?hl=en" target="_blank">Vol de Nuit Instagram page</a></p><h3>Spaghetti Western</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/DApOdOaotIa/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/DApOdOaotIa/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: 💸 – 💸💸</p><p>Theme: Country</p><p>Address: 6390 St-Hubert, Montreal, Quebec</p><p>Why you need to go:</p><p>Opened in 2024, <a href="https://www.mtlblog.com/montreal-spaghetti-western-bar-country-music-fans" target="_blank">Spaghetti Western</a> brings country bar energy to the heart of Montreal with vintage saloon vibes, neon signs, and a rowdy but welcoming crowd. Expect classic country tunes, strong drinks, and the occasional line-dancing session. </p><p>Whether you're a Southerner at heart or just in the mood for something new, it's a spot that knows how to show guests a good time.</p><p>Be sure to bring a cowboy hat. We promise you won't look out of place.</p><p><a href="https://www.barspaghettiwestern.com/" target="_blank">Spaghetti Western website</a></p><h3>Arcade MTL</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/DG6jqI8hrdF/?hl=en" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/DG6jqI8hrdF/?hl=en" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: 💸</p><p>Theme: Arcade</p><p>Address: 2031 Rue Saint-Denis, Montreal, Quebec</p><p>Why you need to go:</p><p>Arcade MTL transports you back to the golden age of gaming, blending classic arcade ambiance with a modern bar twist. <span style="">As Montreal's first bar dedicated entirely to arcade and retro video games, it offers a selection of arcade machines and retro gaming consoles.</span> </p><p>Entry is $7 at the door, and then all the games are free, so you can battle it out in Pac-Man without worrying about quarters. They also offer free popcorn and coat check, and drinks are reasonably priced, making it an easy choice for a budget-friendly night out.</p><p><a href="https://quartierlatin.ca/en/commerces/arcade-mtl/" target="_blank">Arcade MTL web page</a></p><h3>Milky Way</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/DEnjJLaxQ8a/?hl=en&img_index=1" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/DEnjJLaxQ8a/?hl=en&img_index=1" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: 💸 – 💸💸💸</p><p>Theme: Tropical/Futuristic</p><p>Address: 1886 Rue Centre, Montreal, Quebec</p><p>Why you need to go: </p><p>Tucked away in Pointe-Saint-Charles, Milky Way Bar is a tropical escape with a cosmic twist. With a glowing skylight overhead, playful decor, and a kaleidoscope of neon hues, stepping into this joint feels like entering a psychedelic space paradise. But the drinks are just as stellar as the setting.</p><p>It was also ranked one of <a href="https://www.mtlblog.com/montreal-bars-ginormous-cocktails-big" target="_self">Canada’s top 30 bars of 2024</a>.</p><p><span></span><a href="https://www.milkywaycocktails.com/" target="_blank">Milky Way website</a></p><h3>Le 4e Mur</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B9mdoGPFDOI/?hl=en" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/B9mdoGPFDOI/?hl=en" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price:💸💸💸</p><p>Theme: Murder mystery</p><p>Address: 2021 Rue Saint-Denis, Montreal, Quebec</p><p>Why you need to go:</p><p>Le 4e Mur isn't just a speakeasy — it's an immersive murder mystery experience hidden behind an unmarked door. To even find the entrance, you'll need to follow a series of detective-style clues.</p><p> Once inside, the dimly lit space oozes Prohibition-era charm, with expertly crafted cocktails and a moody, secretive atmosphere that makes you feel like you've stumbled into a noir film.</p><p><a href="https://www.narcity.com/=/" target="_blank">Le 4e Mur Website</a></p><h3>Taverne Cobra</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/C8jiuShu89A/?hl=en" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/C8jiuShu89A/?hl=en" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price:💸 – 💸💸</p><p>Theme: Karaoke dive bar</p><p>Address: 6584 Boul. St Laurent, Montreal, Quebec</p><p>Why you need to go: </p><p>A retro-inspired dive bar with attitude, Taverne Cobra serves up cold beers, original cocktails and nightly karaoke chaos in Rosemont–La Petite-Patrie. </p><p>Decked out in old-school memorabilia and vintage neon signs, Cobra is the perfect spot to belt out a power ballad after a few rounds.</p><p><a href="https://www.tavernecobra.com/" target="_blank">Taverne Cobra website</a></p><h3>Bottes & Whiskey</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/DAG38kWRsLA/" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/DAG38kWRsLA/" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Price: 💸 – 💸💸</p><p>Theme: Country</p><p>Address: 2047 Avenue du Mont-Royal Est, Montreal, Quebec</p><p>Why you need to go:</p><p> In case the name didn't give it away, Bottes & Whiskey is a Western-themed bar. Since those are anything but commonplace in Montreal, we decided to include two on our list. </p><p>With live country music, line dancing, and an impressive whisky selection, this place captures the spirit of a true honky-tonk. A night here might just have you feeling like you've landed on Broadway Street in Nashville.</p><p><a href="https://botteswhiskey.com/?fbclid=PAZXh0bgNhZW0CMTEAAabWNXi-ys1LI7q1kSEKwjR-wvZgfO1yF5Za1TZLh4BUzuBF-faU2q_VxNU_aem_s8ZuuDxNOv3S3Bs_TBXq3Q" target="_blank">Bottes & Whiskey website</a></p><p><br/></p>