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- The Federal Government of Nigeria has launched manhunt for government officials that connived with International Oil Companies (IOCs) in the country to steal crude estimated at $12.7 billion. $5 billion being losses incurred by Nigeria to oil theft annually, according to Shell Petroleum Development Company Nigeria Plc.
- The government had, in a new twist to the fight against crude theft, instituted a legal action against Shell, Chevron, Total, and Eni, alleging that the companies and 11 others did not declare $12.7 billion worth of Nigeria’s crude exported to the United States between 2011 and 2014.
- Currently, particular attention is being given to some top officials of the Department of Petroleum Resources (DPR), customs officials, naval officers and politicians considered to be dramatis personae in the whole racket. “The searchlight is on as we speak. Many names are on the watch list.
- This investigation forms the second phase of the onslaught on alleged mega crude theft by the IOCs. The first phase too was conducted quietly for the government by a consortium in the United States until concrete evidences of gross illicit crude export were gathered against the companies.
- The amount, according to Lagos court papers, represents the shortfall of the money paid by Shell Petroleum Development Company of Nigeria Limited and its surrogate, Shell Western Supply & Trading Limited, in the account of the Nigerian government with Central Bank of Nigeria, for crude oil lifted in 2013 and 2014. Shell Petroleum Development Company Nigeria Plc. said through its former Managing Director, Mutiu Sumonu, that Nigeria loses 5 billion dollars annually to oil theft.
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