*Argentina accounts for 23.2mt Ike Amos 02 February 2019, Sweetcrude, Abuja — Nigeria, despite the abundance of gas in the…
Browsing: Nigerian Liquefied Natural Gas Company
Details of the transactions contained in the October 2017 edition of the Monthly NNPC Operations and Financial Report also indicated that 252.83 billion cubic feet of gas was supplied in the country within the period.
The report also noted that 90 million dollars was lost through a practice where NNPC used a revised/lower pricing option at the point of payment instead of the higher price at the point of purchase.
“NPDC continues to be unaccountable to state institutions and the laws of the country. NPDC has consistently refused to give account of its operations and its management of national oil assets in its possession. NPDC failed to cooperate with the forensic audit ordered by the Auditor-General of the Federation in 2015.”
Admitting that the company had defaulted in complying with some provisions of the Act in the past, McGrath who was appointed in March 2017 assured that the oil giant would henceforth comply with all provisions of the Act alongside associated regulations.
Adio said the payments were traced to NNPC accounts by its independent auditors but there was no trace of its remittance to the Federation Account as required by the Constitution.
The proposed amendment, it said, could directly affect some $25 billion worth of foreign investments as well as another 18,000 Nigerian jobs linked to NLNG’s Trains 7 and 8 expansion programmes, adding that this will negate the job creation and job security policy being propagated by the current administration.
Attah said the NLNG had taken up the drive to improve LPG usage in Nigeria but that its efforts would need to be complemented by certain government actions to ensure the market peaks in line with the market estimate its study revealed.
21 September 2015, Lagos – Lead investors of the proposed $1.5 billion ship repair facility, Badagry Ship Repair and Maritime…
