Oil And Gas: Senate Moves To Recover Undeclared $17 Billion 


The House of Representatives yesterday took steps towards recovering $17 billion in allegedly undeclared proceeds from oil and gas.The House has thus constituted an ad hoc committee led by the Chairman of the House Committee on Media and Public Affairs, Abdulrazak Namdas to bring to book those who perpetrated the act.
Namdas, who spoke at the inauguration of the committee, disclosed that twenty oil companies including the Nigeria National Petroleum Company (NNPC), Mobil Producing Nigeria Unlimited, Shell Western Supply and Trading, Chevron Nigeria Limited, Exxon Mobil, Televaras Petroleum Trading Bd, Consolidated Oil Limited and Duke Oil Company Limited are to appear before the committee to clear the air on the issue.
Namdas claimed that preliminary reports indicate that over five million barrels of Nigeria crude oil were illegally exported and sold in the United States of America (U.S.A.) between January 2011 and December 2014.

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