A worker inspect facilities on an upstream oil drilling platform at the Total oil platform at Amenem, 35 kilometers away from Port Harcourt in the Niger Delta. Amenem is the hub of Total oil production with two oil well producing over 100,000 barrels of crude daily. AFP PHOTO / PIUS UTOMI EKPEI (Photo credit should read PIUS UTOMI EKPEI/AFP/Getty Images)

Breaking Highlight Oil & Gas Trending Story

NNPC denies exporting 17.877m barrels of crude oil, says it’s yellow journalism

Per Second NewsJanuary 5, 20231 Mins read1.2k

The Nigerian National Petroleum Company Limited (NNPCL) has distanced itself from an online publication report that it exported 17.877 million barrels of crude oil without proper documentation between 2016 and 2020.

Debunking the allegation, the national oil company said it only lifted 7.053 million barrels of about 39.45 per cent valued at $437.71 million.

NNPCL, therefore, urged the public to disregard the malicious and unsubstantiated publication.

“It should also be noted that NNPC does not appoint Inspection Agents as alleged, but rather, it is the sole responsibility of the Federal Ministry of Finance.

“Therefore, the general public is advised to disregard the said malicious publication, and instead visit the relevant Auditor General’s website to see the full content of the audit report, and be guided accordingly,” the statement obtained by Persecondnews said, adding “the report is intended to rubbish the reputation and goodwill of NNPC Limited.’’

The statement is titled: “Nothing could be further from the truth that the report that NNPC exported 17.8 million barrels of crude oil without documentation.’’

Putting the records straight, the NNPCL also stated: “That NNPC Limited never lifted 17.877 million barrels valued at USD1, 020, 969, 21.15 as erroneously reported.

“That NNPC Limited only lifted 7.053 million barrels (39.45%) valued at USD437.71 million (42.7%). That the balance of 10.2 million barrels (60.55%)valued at USD583.26 million (57.13%) represent liftings by International Oil Companies, Indigenous and Marginal Field Producers.

“That available records with NNPC Limited confirm that all liftings by NNPC Limited were documented and the export proceeds fully reported to the Federation Account.

“That NNPC Limited is neither responsible nor have oversight role over liftings by International Oil Companies, Indigenous and Marginal Field Producers.

“That Federal Ministry of Finance, Budget and National Planning (FMFBNP) is responsible for appointment of Pre-shipment Inspection Agents and Monitoring Agents and not NNPC Limited as claimed.’’

The public is therefore advised to disregard the said mischievous and unsubstantiated allegation intended to rubbish the reputation and goodwill of NNPC Limited