Fidelity bank banner Camano banner
Senate summons British firm over $3.3bn oil deal

By Onyedi Ojiabor, Abuja on 09/03/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 839

•Senate Committee Chairman Solomon Adeola
•Senate Committee Chairman Solomon Adeola

Senate Committee on Local Content Thursday summoned a British firm, BP Oil International Limited over a $3.3 billion pre-financing crude oil deal.

The committee said that it suspected that the oil deal may have breached the country’s oil and gas Content development (NOGICD) Act 2010.

Chairman of the committee, Senator Solomon Adeola (Lagos West) sent the invitation letter to the Chief Executive Officer of the firm, Mr. Robert Dudley.

This is contained in a statement by the Media Assistant to Adeola, Chief Kayode Odunaro in Abuja

Adeola noted that following complaints from a Nigerian firm, Alsaa Gas and Shipping Nigerian Limited (AGSN) on a $3.3 billion pre-financing crude oil contract, a probable infraction of the NOGICD Act 2010 and possible fraudulent acts against a Nigerian firm may have occurred.

He said that the Nigerian company has provided technical and local industry knowledge support for BP Oil International Limited in the contract process with an agreement for a $0.10 per barrel of crude oil of the deal which was unilaterally revoke by the British firm.

The Committee chairman pointed out that part of its oversight responsibilities and functions include to ensure that local companies are not undermined in their dealings with big foreign entities as well as ensuring compliance for NOGICD Act.

The British company whose letter of summons was routed through Ministry of Foreign Affairs as well as copied to is local representative in Lagos is expected to appear on March 28,2018 with “all emails, documents, agreements (signed and unsigned) between yourself, NNPC and AGSN relating to the contract” as well as all “transactional negotiation documents and offers, term sheets and any legal documents to do with dealings with NNPC in this pre-financing opportunity including all correspondences from GED Finance, Group Managing director and Standard Chartered Bank”.

Senator Adeola who said failure of the British firm to appear before the Committee may lead to invoking parliamentary powers under the 1999 Constitution of the Federal Republic of Nigeria added that it is regrettable that some of the infractions against the spirit and letters of the NOGICD Act are perpetrated with active collaboration of some Nigerians. (The Nation)

Source News Express

Posted 09/03/2018 12:42:27 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Wike swears in 17 Permanent Secretaries

VAIDS: FG promises free training for accountants, lawyers,...

Sen. Sani seeks ‘kolanuts formula’ for Nigeria’s unity,...

'The Weekend’, AIT’s new programme, hits airwaves

Labour to FG: Set up committee to discuss...

FG orders arrest of ex-ministers, govs, others over...

Russia tests flying motor bike

Japan donates $9.7m solar power project to Nigeria...

Another American doctor diagnosed with Ebola

Sokoto Muslim youths observe weekly fast for Buhari...

Thai boys skinnier but in good health after...

24 in police net over murder of welder...

 

Latest News 2019: Obi, Osinbajo, 3 others slug it out in Vice-Presidential Debate Access Bank official, accomplice in EFCC net for defrauding foreigner of £79,000 Nigerian Army redeploys top officers •Full list of affected Generals Outrage as suspected assassins murder retired DCP, wife in Imo 13 miners feared drowned in illegal mine ICPC declares vote buying an act of corruption Buhari alerts on activities of hate speech mongers APC bombs Shittu over ’empty threat’ Buhari has admitted to failure: Fayose Police uncover fake drugs factory, arrest 4 in Lagos NSCDC personnel brutalise journalists DPR clears the air on mandate, reassures stakeholders

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (430,282 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,076 views) Shameless Genevieve Nnaji exposes breasts in public (327,977 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (281,617 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,026 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,370 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,261 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,452 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (179,829 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,601 views) Lagos plane crash: Journalist releases victims’ names (167,352 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,801 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,883) Business Verdict (54) Columnists (973) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (313) International (2,825) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (74) News (41,434) Opinion (1,153) Pidgin (13) Politics (8,178) Religion (916) Sports (1,821) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera