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Liberian MPs have urged colleagues to reject production-sharing deals with Arthur Eze’s Atlas Oranto, citing a chequered record and opaque terms. The Boakai administration says the agreements will revive offshore exploration.
Nigerian billionaire Arthur Eze’s Atlas Oranto wins four oil blocks in Liberia, boosting the nation’s energy sector revival.
Authorities there are demanding a $10 million bonus from him if he wants a chance to recover his oil blocks in the small but oil-rich nation on Africa’s west coast.
The EFCC upheld the forfeiture of 20 properties, 10 vehicles, and luxury watches to Eze, dismissing appeals by his brothers.
Prince Arthur Eze founded oil exploration and production company, Atlas Oranto, in 1991, and built it into one of Africa’s largest independents.
Oranto Petroleum Limited, owned by Nigerian billionaire Arthur Eze, recently saw its oil exploration licenses in Uganda’s Kikuube district, expire.