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SIX COMPANIES INDICTED FOR SUBSIDY FRAUD LICENSED TO LIFT CRUDE OIL IN 2017

January 12, 2017

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Under President Muhammadu Buhari, at least 6 companies indicted and some facing criminal charges for fuel subsidy fraud have been licenced to lift crude oil.

Based on a list compiled by PREMIUM TIMES, the 6 companies include:

Masters Energy
Oando
Eterna Oil and Gas
Seterna Energy
AMG Petroenergy
Prudent Energy.

The approved companies include:
Known big customers

Emirates National Oil Coy (ENOC) (60,000 bpd)
Indian Oil Corporation, (60,000 bpd)
CEPSA Refinery Madrid (60,000 bpd)
Sara SPA Refinery (60,000 bpd)
Trafigura PT Ltd, (32,000 bpd)
Mercuria Energy Trading SA (32,000 bpd)
Vitol SA, (32,000 bpd)

International oil companies

ENI Trading and Shipping SPA, (32,000 bpd)
TOTSA Total Oil Trading SA, (32,000 bpd)
Exxon Sale and Supply LLC (32,000 bpd)
Shell Western Supply and Trading (32,000 bpd)

Nigerian downstream players

Emo Oil & Petrochemical Coy/China Zhenhea – an NNPC long-term trader was allocated 45,000bpd.
Forte Oil, 45,000bpd
Northwest Petroleum and Gas Ltd, 45,000bpd,
Oando Plc, 60,000bpd,
Sahara Energy Resource Ltd, 60,000bpd,
A.A. Rano Nig. Ltd, 45,000bpd,
Eterna Oil, 45,000bpd
MRS Oil &Gas Coy Ltd 60,000bpd.

NNPC trading companies

Calson/Hyson with 32,000bpd
Duke Oil Incorporated 90,000bpd

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