Dispute with service provider subject to resolution, says oil firm

The Green Energy International Limited (GEIL) and Lekoil Nigeria Limited (Lekoil Nigeria) have said they are aware of the media reports concerning a court matter arising from a commercial dispute with a service provider, noting that the contractual claims are subject to dispute resolution.

GEIL Corporate Communications unit, which made this known in a press statement on Tuesday, said that the resolution is through arbitration in accordance with the parties’ agreement.

“Green Energy International Limited (“Green Energy”) and Lekoil Nigeria Limited (“Lekoil Nigeria”) are aware of recent media reports concerning a court matter arising from a commercial dispute with a service provider.

“The issue relates to a contractual claim which is subject to dispute resolution through arbitration in accordance with the parties’ agreement,” said the indigenous oil firm.

An online media has reported that a Federal High Court in Lagos has ordered an interim administration for the above-mentioned oil firms for having allegedly failed to pay $25.5million debt.

GEIL, however, said that consequently, the underlying dispute is properly before an arbitral tribunal, and the sums referenced in certain reports are unliquidated, as they remain under review and audit pursuant to the parties’ contractual arrangements.

According to the statement, prior to the reported interim application, Green Energy and Lekoil Nigeria had already commenced proceedings before the Federal High Court in Suit No. FHC/L/CS/225/26, dated 6 Feb 2026, including an application for an anti-suit injunction to protect the agreed arbitration process.

Continuing, the statement stressed that “These processes were duly filed and served on H-PTP before the subsequent court proceedings referenced in media reports.

“As the matter is under active judicial and arbitral consideration, it would be inappropriate to comment further at this stage.

“Both Green Energy and Lekoil Nigeria continue to operate their assets safely and in full compliance with applicable regulatory and contractual obligations. There has been no disruption to operations.

“Green Energy and Lekoil Nigeria will vigorously pursue their rights through the appropriate legal and arbitral processes. The companies also reserve all rights in respect of any inaccurate or defamatory statements published in connection with this matter.”