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FG Names Oil Marketers Recommended For Criminal Investigation

Miffed by the decision of oil marketers to cripple the federal capital territory seat of government, the federal government today continued its name and shame propaganda campaign  against oil thieves by releasing a statement containing how much each of 25 of them recommended for criminal investigation stole from the subsidy fund sleaze.

The statement released by the federal Ministry of Finance and obtained by ireports-ng.com in Abuja showed that some of the indicted companies  claimed billions of subsidy payments for consignments brought in by ships which investigations revealed were either non-existent or were somewhere else in the world.

The table also includes a summary of the infractions, which the committee confirmed were committed by the 25 firms.

“As the information shows, some of the companies claimed payments for consignments brought in by ships, which investigations revealed were either non-existent, or were somewhere else in the world!” the government said.

While most of the companies were cited for a single infraction each, some of them had several.  They include:

•    Capital Oil & Gas Industry Limited, which has five infractions totalling almost $8.9 billion;

•    Matrix Energy Limited, five infractions totalling $6.23 billion; and

•    Nassaman Oil Services Limited, four infractions totalling $3.86 billion.

The full list is as follows:

Please find below extract of the report detailing the cases against the Twenty-Five (25) OM&Ts.

S/N OM/T INFRACTION DESCRIPTIONS  AMOUNT
1 ALMINNUR RESOURCES LIMITED  Subsidy payments for which mother vessels were no Longer operational at the time of transshipment and no shipping documents          504,329,535.27 
Subsidy payments for which mother vessels were no Longer operational at the time of transshipment and no shipping documents          546,700,899.36 
       1,051,030,434.63
2 BRILLA ENERGY LIMITED  Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment          963,796,199.85 
3 CAADES OIL AND GAS LTD  No evidence of Sales proceeds in banks          487,799,826.80 
4 CAPITAL OIL & GAS INDUSTRY LTD  Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading          984,440,711.38 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       1,480,444,043.58 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       1,832,280,164.36 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       2,110,438,332.44 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       2,490,576,987.15 
8,898,180,238.91
5 CAPITAL OIL PLC  Subsidy payments for which mother vessels were not found in the locations claimed at the time of transhipment          608,077,964.00 
Subsidy payments for which mother vessels were not found in the locations claimed at the time of transhipment          608,220,553.20 
1,216,298,517.20
6 CEOTI LIMITED  Specially mentioned transactions with various infractions. Transactions were discovered to be bills for collection transactions, but as at the time of the review it was discovered that the shipping documents evidencing arrival of the products had not been submitted to the respective banks for payment:. 11/07/12 : OM/T to provide letter from their bankers confirming that they financed the transaction.       1,773,421,842.01 
7 CONOIL PLC  Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading       1,065,934,768.66 
Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading       1,882,143,309.24 
2,948,078,077.90
8 DOWNSTREAM ENERGY SOURCE LTD  Subsidy payments for which mother vessels could not be traced          789,648,329.25 
Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates          984,440,711.38 
1,774,089,040.63
9 ETERNA PLC  Subsidy payments for which there were no shipping documents or evidence of payment for the products in foreign exchange. (Form ‘m’ 945404)          578,295,672.84 
No evidence of sales proceeds in the bank.          626,465,370.06 
Subsidy payments without proof of existence of mother vessel bill of Lading or Daughter bill of Lading. (Form ‘m’ 926342)          917,895,596.40 
2,122,859,123.70
10 EURAFRIC OIL & GAS LTD  Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment          955,688,127.82 
Subsidy payments for which mother vessels were no longer operational at the time of transhipment 

 

     1,306,170,995.88 
2,261,859,123.70
11 HEYDEN PETROLEUM  Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment          594,714,089.31 
12 LUMEN SKIES LTD  Transactions disclaimed by banks          267,521,051.32 
Transactions disclaimed by banks          507,266,701.54 
     774,787,752.86
13 MAJOPE INVESTMENT LTD  Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates          959,813,734.22 
14 MASTER ENERGY OIL & GAS LTD  Subsidy payments for which mother vessels could not be traced       1,454,308,353.50 
Subsidy payments for which mother vessels could not be traced       1,454,687,937.79 
   2,908,996,291.29
15 MATRIX ENERGY LIMITED  Subsidy payments for which mother vessels could not be traced          560,744,384.56 
Subsidy payments for which mother vessels could not be traced       1,274,372,887.98 
Specially mentioned transactions with various infractions. Transactions were Bills for collection and as at the time of review no shipping document evidencing payment was available.  MAT/2031/MAS/PMS/28/09/11       1,301,904,784.71 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment. MAT/1679/MAS/PMS/27/04/11       1,501,684,359.70 
Subsidy payments for which mother vessels could not be traced. MAT/2031/MAS/PMS/28/09/11       1,595,095,720.20 
6,233,802,137.15
16 MENOL OIL & GAS LIMITED  Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       1,691,595,830.87 
17 MOB INTERNATIONAL SERVICES  No evidence of Sales proceeds in banks       1,019,068,114.10 
No evidence of Sales proceeds in banks       1,118,260,800.00 
2,137,328,914.10
18 MRS OIL & GAS PLC  Subsidy payments for which there were no shipping documents or evidence of payment for the products in foreign exchange       6,086,531,305.33 
19 NASAMAN OIL SERVICES LTD  Subsidy payments for which mother vessels were no longer operational at the time of transhipment          598,723,358.04 
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment          749,991,273.36 
Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates          881,350,767.57 
No evidence of Sales proceeds in banks       1,631,342,040.93 
3,861,407,437.90
20 NATICEL PETROLEUM LIMITED  Specially mentioned transactions with various infractions. No shipping document in bank and no evidence of payment for product       1,514,333,360.64 
No evidence of Sales proceeds in banks       1,567,037,317.70 
3,081,370,678.34
21 OCEAN ENERGY TRADING & SERVICES LTD  Subsidy payments for which mother vessels could not be traced  1,778,180,051.20 
22 PINNACLE CONTRACTORS LTD  Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment       1,227,601,783.20 
Subsidy payments for which mother vessels were no longer operational at the time of transhipment       1,528,044,960.84 
2,755,646,744.04
23 SIFAX OIL AND GAS COMPANY  Subsidy payments for which mother vessels were no longer operational at the time of transhipment  1,033,119,489.60 
24 TONIQUE OIL SERVICES LTD  No evidence of Sales proceeds in banks       1,575,014,046.51 
25 TOP OIL AND GAS DEVELOPMENT COMPANY LIMITED.  Subsidy payments for which mother vessels were no Longer operational at the time of transshipment and no shipping documents  1,092,496,724.55 
Subsidy payments for which mother vessel could not be traced and no shipping documents were sighted  1,268,236,760.88 
2,360,733,485.43


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