The Federal Government has indicted Conoil Plc, MRS Oil and
Gas Ltd., Capital Oil and Gas Industry Ltd., and 18 other firms in the fuel
subsidy imbroglio. It said that these companies were being investigated based
on the evidence that they might have engaged in fraudulent activities under the
fuel subsidy regime.
The Ministry of Finance, in a statement gave the names of
the other companies as Aluminnur Resources Ltd., Brilla Energy Ltd., Caades Oil
and Gas Ltd., Downstream Energy Source Ltd., Eterna Plc and Eurafric Oil and
Gas Ltd. Others are Lumen Skies Ltd., Majope Investment Ltd., Matrix Energy
Ltd., Menon Oil and Gas Ltd., MOB International Services, Nasaman Oil Services
Ltd., Natacel Petroleum Ltd., Ocean Energy Trading and Services, Pinnacle
Contractors Ltd., Sifax Oil and Gas Company, Tonique Oil Services Ltd. and Top
Oil and Gas Development Company Ltd.
According to the statement, a report by the Presidential
Committee on Fuel Subsidy Payments led by Aig Aig-Imoukhuede, had recommended
that the firms refund various amounts to the national treasury. The statement
said, “There is a second group of companies with infractions which are
relatively minor. They are in discussion with the government for a quick
resolution of their issues. The government is prepared to settle their claims under
the following circumstances. “For oil marketers under investigation for
possible refunds to the government, their 2012 outstanding claims will be
netted out against their expected refunds to the government and those with a
positive net balance, i.e. outstanding claims greater than expected refunds,
will be processed and paid. “For marketers with a negative balance with the
government, i.e they owe the government more in refunds than the government
owes them, the Aig-Imoukhuede committee will accelerate the review of their
documents after the Sallah break so that their claims can be processed and
settled, if cleared, without further delay.
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