Monday 19 September 2016

FGN SUES AGIP, TOTAL FOR ALLEGED STEALING $635M NIGERIAN CRUDE Click to read more Teekayspeaks.blogspot.com

NEWS: Source- Liberty Kaduna
FGN SUES AGIP, TOTAL FOR ALLEGED STEALING $635M NIGERIAN CRUDE BETWEEN 2011 AND 2014.


The Nigerian Government is demanding $635 million from two Multi National Companies, Agip and Total for undeclared Crude Oil Shipped out of the Country between 2011 and 2014.

Two cases have been filed at the Federal High Court in Lagos by Senior Lawyer and Senior Advocate of Nigeria, Professor Fabian Ajogwu,

Hearing will begin next week.

It would be recalled, Nigeria is the only Member Country of the Organisation of Petroleum Exporting Countries(OPEC) that sells its Crude Oil on the fraudulent Free on Board (FOB)instead of Cost Insurance and Freight (CIF) terms.

This unfair FOB trading terms in the Sale of Nigerian Crude Oil is protected by some entrenched Interest in NNPC, makes it easy for Multi National Oil Companies in Conspiracy of Silence with some officials of NNPC, NPA etc to be Shipping Undeclared Nigerian Crude Oil Cargoes from Nigeria's Oil Export Terminals.

posted from Bloggeroid

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