Guardian
27 June 2011
FOLLOWING alleged serious violations of extant laws guiding the lifting of crude oil in the country, especially in the last 12 months, plans are under way by the Presidency to initiate a detailed investigation of the oil and gas sector, especially the trading of the resource, The Guardian has learnt.
The Presidency’s resort to the investigations was reportedly prompted by protests from major oil companies and other stakeholders, who alleged overwhelming presence of shadowy companies on the list of crude oil lifters in the country, in gross violation of the extant rules.
Another reason for the probe, it is said, is the disquiet in the national oil company, Nigerian National Petroleum Corporation (NNPC), over what many top executives there regard as the Petroleum Ministry’s overbearing influence on the corporation’s work.
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