Oil Theft:  Reps query companies for failing to submit documents


The House of Representatives Ad-hoc Committee investigating the alleged loss of over $2.4 billion in revenue from Illegal sale of 48 Million Barrels of Crude Oil Export in 2015 Including Crude Oil Exports from 2014 till date has frowned at the inability of Chief Executive Officers (CEOs) of International Oil Companies to submit some requested documents to the committee.

The committee chairman, Hon. Mark Gbilla, gave the indication at the resumption of a rescheduled 3-day investigative hearing organized by the probe panel.

He stated that the CEOs of most of the international oil companies (IOCs) operating in Nigeria are very disrespectful to the laws in their host countries.

He frowned at representations of some of the Managing Directors for failing to appear in person and rather sent in a representative of the company to the hearing.

The committee chairman reminded the invited stakeholders that in all climes, the parliament has powers to invite any person or authority and can order investigation into any matter for which it has powers to make laws.

He cited Section 88 and 89 of the Nigerian Constitution 1999, saying that it is the Chief Executive Officers of the IOCs and not their subordinates that are invited for the probe.

“In every clime where the parliament wants to engage with a company, it is the Chief executive officer.”

Meanwhile, the committee had grilled other oil companies who were allegedly involved in the export of crude oil to foreign destinations and demand that these companies submit necessary documents such as pre-shipment inspection, bank accounts details and statements.

Some other invited entities at the investigative hearing includes the Oriental Energy Resources Ltd, the Nigeria Financial Intelligence Unit (NFIU) and other oil firms.

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