BARGE, EQUIPMENT SINK IN FAILED ATTACK ON NPDC PIPELINE IN DELTA

Hell bent on crippling the source of the oil revenue of the country, suspected militants again, in the early hours of yesterday, attempted to bomb the Trans Forcados 48” Export Trunk line in Batan community in Warri South West Local Government Area of Delta State. Though the attack on the trunk line, operated by the Nigerian Petroleum Development Company (NPDC), was foiled by soldiers, the militants succeeded in sinking a barge with equipment used for repair work on the line.

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NNPC TO REMIT $1.48BN AFTER RECONCILIATION WITH DPR

The Nigerian National Petroleum Corporation (NNPC) yesterday said it would remit an outstanding $1.48 billion balance of signature bonus from divested assets to its exploration and production arm, the Nigeria Petroleum Development Company (NPDC) as soon as it reconciles the figures with the Department of Petroleum Resources (DPR).

NNPC stated at a briefing on the outcome of the forensic audit conducted by PriceWaterHouseCoopers (PwC) on crude oil revenues accrued to the country between January 2012 and July 2013 and which the former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi accused it of failing to remit outstanding proceeds from crude oil sales into the federation account, that the $1.48 billion is the balance of its remittance to the government on NPDC’s signature bonus.

 

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Petroleum minister orders NNPC to defray $1.48b debt

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has directed the Nigerian National Petroleum Corporation (NNPC) to defray $1.48 billion remittances due to the Federation Account by the Nigerian Petroleum Development Company (NPDC), being signature bonus, taxes and royalties on the assets transferred to the firm.

NPDC is an upstream subsidiary of NNPC. The Corporation also insisted it is not indicted by the forensic audit report on the alleged missing $20bn unremitted oil revenue carried out by the reputable international firm, PriceWaterhouseCoopers.

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