FG TO Probe Kachikwu Over Oil Swap Deals, Crude Oil, Gas Lifting
Strong indications have emerged that President Muhammadu Buhari has
ordered a probe into the current lists of crude oil takers, swap deals as
well as liquefied natural gas lifting lists put in place by the immediate
past Group Managing Director (GMD) of the Nigeria National Petroleum
Corporation (NNPC) and current minister of state petroleum resources Dr.
Our correspondent gathered that the probe was triggered by complaints from
stakeholders in the oil and gas industry who have voiced dissatisfaction
to top government functionaries as well as cries of alleged corruption and
favoritism in the allocations of crude oil, gas as well as the swap deal
involving some companies discredited by the current government when it
came to power in 2015.
An industry source who spoke to our correspondent, on the condition of
anonymity said the new GMD NNPC Dr. Maikanti Baru has been directed to
look into the allegations in the swap deals involving CEPSA Refinery; IOC
Refinery; ENOC and Sara Refinery labelled as major current receivers of
Our correspondent also gathered that the NNPC boss has also been asked to
investigate the list of 20/206 crude oil taker, which Kachikwu approved.
The companies involved are Master Energy and Taleveras as well as
Mercuria; Vitol; and Trafigura, the international trading companies
approved by the former GMD.
Other deals which may come under scrutiny our correspondent gathered are
those involving the IOC Trading Affiliates listed as major players. The
companies are Exxon Trading; Total Trading; Eni Trading and Shell Trading
while the Nigerian Downstream have Oando, Sahara Energy; MRS.
Master Energy; Forte Oil; A.A Rano Ltd; Northwest Petroleum, Eternal Oil;
Taleveras and Emo Oil/China Zhenhea respectively may also be investigated
by the government.
Industry sources further revealed to our correspondent that the search
light is also expected to be beamed on the indiscriminate allocation of
gas by Kachikwu while he served as the boss of the nation's oil company.
Some of the companies which may be investigated to ascertain the
transparency of the deals they entered into with the Nigerian government
are Petrowest SA which had enjoyed allocation of Pentane Plus (owned by
MRS Oil); F-Energy (Folawiyo Group) which was allocated OSO LPG; Runi Oil
which got OSO LPG Domestic; West Africa LPG (owned by Sahara Group) which
got Escravos LPG-Mix; Metropolitan (Unknown owner); which was allocated
Pentane Plus and Worldwide Energy (owned by Trafigura) which got OSO LPG
and Zanedo Petroleume (owned by Igho Sanomi) which got OSO LPG Domestic.
Others are Falcon Petroleum which got Pentane Plus; Sahara Group which got
OSO LPG; Avedia Energy Resources which was allocated Escravos Mix and
Tenoil (belonging to Tony Elumelu) which got Escravos Condensate.
“All these allocations have not gone down well with the government and
thats why Mr. President decided to bring in a fresh hand in the person of
Dr. Baru with the clear mandate to further clean up the system for proper
accountability and transparency,” the industry source said.
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