The Management of the Nigerian National Petroleum Corporation,
NNPC over the weekend denounced the recent report by Swiss -based NGO
(The Berne Declaration) which accused the Corporation of collusion with some
local and international oil traders to execute unfair industry practices.
In a chat with Journalists in Abuja, the Acting Group General
Manager, Group Public Affairs Division of the Corporation, Tumini Green, stated
that the publication is not only bogus but strewn with inaccurate and poorly
researched data which defies common sense and verifiable evidence on ground in
Nigeria.
“For instance, how can anybody who claims to be a close observer
of the Nigeria oil and gas industry say that the process leading to the award
of Term Contract for lifting of Nigeria’s crude is shrouded in mystery when it
is common knowledge that the call for tender for this contract is periodically
published by almost all the newspapers in Nigeria via paid advert placements by
the NNPC,’’ Green quipped.
The NNPC Spokesperson explained that in practice the Corporation
sells Nigerian Government equity crude oil to Lifters/Traders engaged on Annual
Term Contract basis. She stated that at present there are about 50 such term
contracts.
“No company has a monopoly or exclusive right to lift any quantity
of Nigerian crude oil. The process of selection of Traders/lifters is
competitive and transparent. Traders lift crude oil according to the terms of
Contractual agreements applicable to all traders, among others on (Free on
Board) FOB basis and proceeds paid directly into designated Central Bank of
Nigeria Crude oil sales accounts,’’ She said.
On the allegation that Nigeria’s crude is sold to some companies
at special discounted rate, Green countered.
“Nigeria Crude Oil is sold at published Official Selling Price
(OSP) which is not only bench-marked against the internationally recognized
pricing institution, Platts daily publications, but also fixed after a critical
analysis of market fundamentals and price determinants at global level. OSP
differentials are crude stream determined and cannot favor an individual or
group of traders as being insinuated,’’ the NNPC explained.
Green thanked the Nigerian media for their sustained show of
support for the growth of the oil and gas industry while appealing to them to
always resist the temptation of endorsing foreign media reports about the
industry as gospel truth.
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