26 April 2017, Abuja — The Nigerian National Petroleum Corporation, NNPC, says it is committed to the full recovery of the outstanding crude swap under-deliveries from three companies including Aiteo Energy Resources, Televaras Group of Companies and Ontario Oil and Gas Limited.
Mr. Saidu Mohammed, the Chief Operating Officer, COO, Gas and Power, NNPC who spoke on behalf of the Group Managing Director of the NNPC, Maikanti Baru, disclosed that the Corporation has recovered $208 million from Aiteo and Televaras.
He said the Corporation is currently working hard to recover another $103 million from Ontario.
According to him, the NNPC has taken far-reaching? measures to recover N14 billion, being 130 million litres of missing Premium Motor Spirit, PMS, stored in the facilities of some depot owners.
Mohammed who did not name the affected operators disclosed that one of these operators has fully complied by returning the expropriated volumes of oil products, adding that the Corporation is working with security agencies to recover about N11 billion from the second operator.
The COO also appealed to vandals to desist from the destruction of the Corporation’s facilities, stating that the act poses a serious threat to the economy of the country, among others.
“On security challenges, we are setting up an all-advisory security council involving critical stakeholders which include security agencies, Niger Delta youths and leaders, international oil companies, among others, to complement the Federal Government’s efforts towards addressing host communities agitations as well as ensuring lasting peace in the region.
“For the umpteenth time, we want to passionately appeal to those behind indiscriminate acts of infrastructure vandalism to put an end forthwith to these despicable acts which are a great threat to the economy, ecosystem and energy security.”