Ike Amos 20 July 2018, Sweetcrude, Lagos — The Department of Petroleum Resources (DPR), Thursday, faulted the Senate’s claims of sharp…
Browsing: Oil MIning Leases
“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.”
The GMD, however, said the arrangement allowed NNPC to lift the royalty oil from Production Sharing Contracts (PSCs) and remit the proceeds to the DPR, adding that confirmation and reconciliation of royalty payments to the sister agency were carried out at the monthly meeting between the Office of the Accountant General of the Federation and revenue generating agencies.
Gwani said in the course of investigation, his panel, among others, uncovered how oil blocs were awarded by persons other than the President or Petroleum Minister, as prescribed by the Petroleum Act.
He specifically condemned the “singling out” of the Malabu oil deal for probe, saying it was disheartening that while the other oil blocks awarded at the same time and through the same process were left untouched, the Malabu incident had been a subject of sustained probe because it is owned by a Niger Delta individual.
29 July 2016, Abuja – The impact of the recent spate of attacks on oil and gas assets in the Niger…
08 June 2016, Sweetcrude, Abuja – A former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Funsho Kupolokun,…
According to Babalola, in 2005 bid round – 65% indigenous and 35% foreign oil firms participated; in 2006 bid round – 40% indigenous and 60% foreign oil firms participated; and in 2007 bid round – 85% indigenous and 15% foreign oil firms took part in the exercise.
The Hon. Gideon Gwani-led ad hoc Committee faulted the Department of Petroleum Resources (DPR) for jettisoning due process by awarding some licences and leases far less than approved prices. Also, the committee said documents at its disposal show that DPR abused relinquishment of licence and leases by operating companies.
