Home Uncategorized Reps query 10 oil firms over non remittance of $250m to FG

Reps query 10 oil firms over non remittance of $250m to FG

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The House of Representatives Committee on Oil and Gas has decided to beam searchlight on 10 oil companies over allegation of not remitting $250 million to the Federal Government.

To match their words with action, The committee threatened to issue warrant of arrest on the Managing Directors of the companies of they refuse to honour their summon this week.

The Committee flayed the companies which include, Aiteo Energy, Neconde Energy, Frontier Energy and seven indigenous oil companies for allegedly not showing interest to remit the fund.

In addition, the Committee has also ordered  the Managing Director of the Nigerian Petroleum Development Company (NPDC) to appear before it in Abuja on December 19 over Operating Mining Lease (OML) 119.

According to the Committee, The company needs to explain why the block was producing 5,000 barrels in spite of its capacity to deliver beyond, adding that the subsidiary arm of the Nigerian National Petroleum Company (NNPC) failed to remit $10 million accrued debt in line with the agreement it reached with the Department of Petroleum Resources (DPR).

The Chairman accused the NNPC of shunning the invitations of the Committee on several occasions to explain the infraction.

He lamented the situation where the NNPC whose efforts should be instrumental to government drive to block revenue leakage in the oil and gas sector should turn down the Committee’s sitting without any reason.

He criticized the ExxonMobil Nigeria’s Gas-To-Liquid project, calling it an illegal project because it had no licence from the Department of Petroleum Resources (DPR).

According to him,  the Committee observed the infraction and would not allow the illegality to linger without addressing the situation.

 

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