Oil and Gas
THE Senate, on Tuesday, resolved to investigate the Nigeria National Petroleum Corporation (NNPC), to know how Brass Liquefied Natural Gas, LNG, account worth $141 million allegedly ended in a private account domiciled with Keystone Bank.
The decision of the Senate was sequel to a Point of Order by Senator Dino Melaye, who begged that the Senate should as a matter of urgency, confirm the veracity of the alleged ‘monumental corruption’ in NNPC.
THE Nigeria Extractive Industries Transparency Initiative (NEITI), has berated the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and oil and gas companies operating in the country, for inconsistencies in Nigeria’s crude oil production and lifting data.
This has confirmed claims by stakeholders and transparency watchdogs that the Federal Government does not know the actual volume of crude oil produced in the country, giving room for massive corruption in the industry.