NIGERIAN OIL CORPORATION PROBE

A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money expanded with the amount under investigation doubling to over $2.2 billion, a committee said.  The Senate voted to probe withdrawals of $1.05 billion by Nigerian National Petroleum Corporation (NNPC), from NLNG, a venture owned by the state oil firm and foreign energy companies, without approval.  NLNG, which produces liquefied natural gas (LNG) for export, is a joint venture company owned by NNPC and foreign energy firms Royal Dutch Shell Plc, Total SA and ENI.

http://www.defenceweb.co.za/index.php?option=com_content&view=article&id=53752:nigerian-oil-corporation-probe&catid=7:Industry&Itemid=116

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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