Friday 1 July 2016

Minister Warns Chinese Against Oil Scam

Oil sale offers are scam Dr Ibe Kachikwu stated that the era of discretionary sale of crude oil by the Nigeria National Petroleum Corporation (NNPC) is now a thing of history.
The Minister of State for Petroleum, Dr Ibe Kachikwu has Chinese businessmen seeking information at the Nigerian Embassy in Beijing about scam.
The Minister said this at the forum organized by officials of the Nigerian Embassy in Beijing who seeks clarification about the sale of crude oil in Nigeria following enquiries from Chinese businessmen who got illegal offers from Nigeria

Dr Kachikwu explained that only 11 companies were approved to lift crude oil from Nigeria following an open bid process and that the next bids will hold in April 2017 and that Nigeria is also investigating reported discovery of Nigeria’s stolen oil in China.

The minister however, appealed to Chinese businessmen who buy stolen oil to desist from the act as it encourages vandalism and militancy in Nigeria


The meeting which was one of the activities on NNPC roadshow in China to seek investment for the repair and expansion of infrastructure in the nation’s oil industry, witnessed the signing of Over 50 billion dollars memorandum of understanding (MoU) for investments in the oil industry.

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