Re: Ghost companies lift N1.1 trn crude oil
I refer to your news story with the above caption, which appeared in the December 17 edition of Daily Trust on Sunday. Below is the stand of the Nigerian National Petroleum Corporation (NNPC) on your report. Kindly give as much publicity to it in your paper as your news story under reference. The attention of […]
I refer to your news story with the above caption, which appeared in the December 17 edition of Daily Trust on Sunday.
Below is the stand of the Nigerian National Petroleum Corporation (NNPC) on your report. Kindly give as much publicity to it in your paper as your news story under reference.
The attention of the NNPC has been drawn to the publication and allegation by the Daily Trust on Sunday of December 17, 2017, that the following companies: AMG Petroenergy Limited, Brittania-U, Cassiva Energy, Hyde Energy, Masters Energy, Bono Energy Ltd and Sahara are ghost companies and had lifted a total of 67.2million barrels of Nigerian crude oil valued at $3.5billion between January and October 2017 from the NNPC.
Contrary to Daily Trust on Sunday’s assertion, the NNPC duly entered into the 2017/2018 crude oil term contracts with the companies in their appropriate registered corporate names as follows:
S/NO COMPANY NAME AS PER CONTRACT CAC REG NO
1 AMG Petroenergy Limited 191430
2 Brittania-U Nigeria Ltd 284481
3 Cassiva Ltd 1091598
4 Hyde Energy Ltd 1051332
5 Masters Energy Oil& Gas Ltd 616872
6 Bono Energy Ltd 609822
7 Sahara Energy Resources Ltd 318527
Furthermore, the companies collectively lifted a total of 8.8million barrels of crude oil valued at $436.35million as at October 30, 2017, contrary to the claim by the Daily Trust on Sunday that 67.2million barrels were lifted.
The above clarifications demonstrate that the allegations by Daily Trust on Sunday are not only baseless but intended to mislead the public while disparaging the corporation.
The corporation wishes to place on record that all crude oil lifting transactions are backed by irrevocable letters of credit issued by investment grade banks, therefore, all payments are pre-secured.
The lifting by the seven companies and all other off-takers are bound by these requirements.
We advise that Daily Trust on Sunday endeavours to always crosscheck its facts to avoid misrepresentation as in the case being referenced. Best regards.
Ndu Ughamadu is the Group General Manager, Group Public Affairs Division of the NNPC.