…Says dispute arose from agreement exclusively between Gimbrowns Marine Security and Kofa Energy Limited
…Points to subsequent Federal High Court judgment and challenges inclusion of non-contracting companies

Redstar Oil & Gas Limited has strongly refuted the impression created by recent media reports linking the company to an alleged crude oil storage debt arising from a commercial agreement between Gimbrowns Marine Security Oil and Gas Limited and Kofa Energy Limited.

The clarification follows a report published by THISDAY on September 28, 2026, titled “Court Freezes Three Energy Firms’ Accounts Over $1.6m, N1.3bn Crude Storage Debt.”

In a statement issued by its management, Redstar described its inclusion in the proceedings as erroneous and unjustified by the underlying contractual documentation, maintaining that the company was never a contracting party to the agreement from which the dispute originated.

Redstar Oil & Gas Limited has rejected reports linking it to an alleged $1.602 million and N1.314 billion crude oil storage debt, insisting that it was not a party to the charter agreement at the centre of the dispute. The company’s response followed a media report, which said the Federal High Court in Port Harcourt, Rivers state, had granted a Mareva injunction restraining Kofa Energy Limited, Redstar and Halkoff Logistics International Limited from dissipating funds or assets over claims connected with the storage of 150,000 metric tonnes of crude aboard Barge MICLYN 301.

In a statement signed by its Chief Operating Officer, Dr. Jacobs Onoja, Redstar said the dispute originated from a BIMCO charter party agreement dated November 23, 2024, between Gimbrowns Marine Security Oil and Gas Limited, as vessel owner, and Kofa Energy Limited, as charterer.

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Shamsudeen Aminu Kofa, CEO of Red Star Oil & Gas, talks to The Energy Year about the company’s oil barging capabilities and its involvement with the Onne Port and Lekki Deep Sea Port. Red Star Oil & Gas is an integrated global oil and gas player operating across the energy sector value chain.

How would you describe your capabilities when it comes to crude oil barging services ? We play a key role in the midstream and offshore logistics in Nigeria. In general, we see a positive future for the Nigerian oil and gas sector. There is going to be an increase in production, even though now most of the production can only be evacuated by barge. We are one of the pioneers of barging in Nigeria.

Red Star Oil & Gas started with around 250 bpd of crude. Fast forward to today, we are evacuating around 50,000 bpd. In Nigeria the only way to evacuate crude right now is through barges, and this will continue until the government implements a new system of monitoring to keep the pipelines secured.

Redstar Oil & Gas Ltd. is pleased to announce the procurement of two state-of-the-art vessels as part of its ongoing expansion strategy. This acquisition marks a significant milestone in the company’s commitment to enhancing its maritime operations and providing efficient, reliable, and sustainable shipping solutions.

The two vessels, which are equipped with the latest technology and environmental compliance measures, will strengthen our capacity to meet the growing demands of global trade. These additions align with the company’s vision of modernizing its fleet to improve operational efficiency and in upholding the highest safety standards.

Redstar Oil & Gas Ltd. congratulates Alhaji Aminu Umar - President, Nigerian Chamber of Shipping (NCS) - on his appointment as a board member by the International Chamber of Shipping (ICS). This is historic appointment as Alhaji Aminu Umar is the first African to be honored as a member of the board of International Chamber of Shipping (ICS).

This achievement underscores Nigeria’s growing influence and leadership within the international maritime community.

Join us in celebrating Mr. Aminu Umar’s appointment and the bright future of Nigeria’s maritime sector!

Special Edition of Nigeria 63rd Independence Day Celebration by The Guardian Newspaper

The official presentation of cash award from Jaiz Takaful Insurance Limited to Red Star Oil & Gas Limited

Photography of the taking over of the two new 80tons bullard tugboats

Cross section photography of our Staff at the inauguration of new Green Forest Energy Station at Kano State, Nigeria