No link with al­leged In­dian $25m oil block trans­ac­tion – NNPC

Daily Trust - - BUSINESS -

The Nige­rian Na­tional Petroleum Cor­po­ra­tion (NNPC) says it has no link with the failed bid of an In­dian com­pany, Oil and Nat­u­ral Gas Corp-Mit­tal En­ergy Lim­ited, to ac­quire an oil bloc.

This is con­tained in a state­ment by NNPC’s Group Gen­eral Man­ager, Group Pub­lic Af­fairs Divi­sion, Mr Ohi Alegbe, in Abuja on Tues­day.

The state­ment de­scribed the al­leged non-re­fund of the sig­na­ture bonus to the com­pany by NNPC in 2006/2007 as spu­ri­ous and mis­lead­ing.

It said the re­ports link­ing the cor­po­ra­tion with the trans­ac­tion showed a high level of ig­no­rance on the run­ning of oil and gas industry in Nige­ria.

NNPC ex­plained it was not the statu­tory body sad­dled with the re­spon­si­bil­ity of or­gan­is­ing bid rounds and could not have re­ceived the al­leged $25 mil­lion or any pay­ment from OMEL for the trans­ac­tion.

The de­lib­er­ate at­tempt to drag NNPC into the var­i­ous al­le­ga­tions sur­round­ing the trans­ac­tion, the state­ment read, was mis­chievous and un­for­tu­nate.

The state­ment urged those in­ter­ested in the story to seek clar­i­fi­ca­tion with the rel­e­vant agen­cies re­spon­si­ble for con­duct­ing bid rounds and to whom OMEL might have paid the al­leged fee. (NAN)

From left, Trader at OrileCoker Mar­ket, Lagos, Mr Ifedi Pe­ter Nduk­womfa; Ogun State Com­mis­sioner for Com­merce and Industry, Otunba Bimbo Ashiru and Ex­ec­u­tive Di­rec­tor, Per­sonal and Busi­ness Bank­ing, Stan­bic IBTC Bank, Obin­nia Aba­jue, at the com­mis­sion­ing of Stan­bic IBTC Cash Cen­tre in Orile-Coker Mar­ket, Lagos, at the week­end.

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