He added that, “The resolution of cash call arrears will increase the confidence of JV Operators and therefore trigger more investment in new projects. To enhance profitability in our business, we’ve developed 12 business focus areas in line with the seven big wins to grow the industry.”
The Director-General of the Budget Office, Mr. Ben Akabueze, said the release of the fund was not within the purview of the office, adding that the powers lied with the minister of finance, who should seek approval from the president before the fund was released.
“The suspected gas leakage on the gas pipeline between Eveku and Rumodogo 1 communities in Emohua Local Government Area of Rivers State of February 22, 2017 was not caused and cannot be caused by NNPC, IDSL Party 05 seismic operations. Our closest activity around the incident area yesterday was 798 metres away from the pipeline”, IDSL stated.
“This year’s event will be unique in several respects. We are expecting about 6,000 conference delegates, 250 exhibitors, over 20 countries will be participating and these countries cut across all continents. Many oil and gas experts, thousands of media colleagues and hundreds of government representatives from different countries will also be in attendance. NNPC is a major sponsor and we have ensured that adequate preparation is on ground for the conference.”
North America’s crude oil import from Nigeria increased from 5.9 million barrels in October to 13.1 million barrels in November 2016. The North America countries, which include Canada, Panama and United States Atlantic Coast, imported a total of 111 million daily between January and November 2016.
He said, “People now buy these dollars and keep them in their houses. The amount of dollars in Nigeria in cash is more than the amount of dollars in the whole of the USA. If you (EFCC) tell us, we can cooperate with you and tell you (about) the people hiding these monies.”
The downward trend in the cases of pipeline sabotage, according to the report, was due to sustained engagements with stakeholders by the Federal Government and Corporation.
The seized money, according to the Economic and Financial Crimes Commission, was stolen from the Nigerian National Petroleum Corporation and stashed in three banks in Nigeria, in US dollars and Naira.
“Motorists and other consumers of petroleum products across the Country are enjoined not to engage in panic buying as NNPC has over 32 days sufficiency for petrol, and adequate volumes of diesel and petrol to meet their demand,” Mr. Ughamadu said.
Oscarline Onwuemenyi 12 February 2017, Sweetcrude, Abuja – The Economic and Financial Crimes Commission (EFCC) has said it may have…
