FG releases names of additional 4 indicted marketers

Posted by admin Latest Politics, Oil Politics Wednesday, August 22nd, 2012

AS commuters felt the harsh effect of fuel scarcity currently ravaging the Federal Capital Territory and its environs, the Federal Government, on Tuesday, released additional four names of indicted marketers, thus bringing to 25 the names of indicted marketers under investigation released within a spate of five days.

The list of names included a summary of the offences, probing the fuel subsidy confirmed were committed by the 25 firms.

According to a statement released by the Ministry of Finance, three of the new four companies added to the list are Capital Oil Plc, Hayden Petroleum and Ceoti Limited.

The previous 21 companies whose names were released include Alminnur Resource Limited, Brilla Energy Limited, Caades Oil and Gas Limited, Capital Oil and Gas Limited, Conoil Plc, Downstream Energy Resource Limited, Eternal Oil, Eurafric Oil and Gas, and Lumen Skies Limited, Master Energy Oil and Gas Limited.

Others include Tonique Oil Services, Majope Investment Limited, Matrix Energy Limited, Menol Oil and Gas, Mob International Services, Mrs Oil and Gas Plc, Nasaman Oil Services, Naticel Petroleum Limited, Ocean Energy Trading and Services Limited, Pinnacle Contractors Limited, Sifax Oil and Gas Company, and Top Oil and Gas Development Company.

According to the press statement, the level of offences vary from subsidy payments for which mother vessels were no longer operational at the time of trans-shipment and no shipping documents and subsidy payments for which mother vessels were not found in locations claimed at the time of trans-shipment.

Other offences listed against the firms are subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading; No evidence of sales proceeds in banks; subsidy payments for which mother vessel could not be traced and no shipping documents were sighted and subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates,

According to the statement, the number had been confirmed by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments.

via Tribunewp_posts