Federal Government, Claiming “Thorough” Vetting, Pays Nearly N340 billion to Oil Marketers For 2011 and 2012

caption: Ngozi Okonjo-Iweala

The federal government has so far in 2012 shelled out N259,339,041,657.85 to 79 oil companies to satisfy their 2011 claims.  

In an update provided today, the Federal Ministry of Finance explained that it has also paid out N78.9 billion for 2012 claims to 24 companies; N34.6 billion of that sum was paid just days ago, on August 22, 2012.

This weekend’s update means that the federal government has disbursed to the oil marketers this year, about N339,339,041,657.85, on the basis of the 2012 budget.

The statement by the Ministry stressed that it only makes payments based on submitted batches by the Petroleum Products Pricing Regulatory Agency (PPPRA).

Below is the full statement by the Ministry, including the two tables reflecting both sets of payments:
TABLE 1:
    
LATEST PAYMENTS MADE BY THE FEDERAL MINISTRY OF FINANCE
TO OIL MARKETERS IN 2012 AGAINST 2012 CLAIMS
    
                                                    NO. OF COMPANIES: 24
                                                    NO. OF CLAIMS: 43
     
    
S/NO.    NAME OF OIL MARKETER
1.    ASCON OIL COMPANY LIMITED (3 Claims)
    
2.    BODEJ INVESTMENT LIMITED (1 Claim)
    
3.    BOVAS AND COMPANY LIMITED (2 Claims)
    
4.    CHANNEL OIL AND PETROLEUM LIMITED (1 Claim)
    
5.    DEE JONES PETROLEUM AND GAS LIMITED (1 Claim)
    
6.    DOZZY OIL AND GAS LIMITED (1 Claim)
    
7.    FIRST DEEP WATER DISCOVERY LTD (1 Claim)
    
8.    FOLAWIYO ENERGY LIMITED (1 Claim)
    
9.    HEYDEN PETROLEUM LIMITED (1 Claim)
    
10.    HONEYWELL OIL & GAS LIMITED (1 Claim)
    
11.    INTEGRATED OIL & GAS (1 Claim)
    
12.    MASTERS ENERGY OIL AND GAS LTD (1 Claim)
    
13.    MOBIL OIL NIGERIA NIGERIA PLC (3 Claim)
    
14.    MRS OIL & GAS LIMITED (1 Claim)
    
15.    NIPCO PLC (4 Claims)
    
16.    OANDO PLC (2 Claims)
    
17.    RAHAMANIYYA OIL & GAS (3 Claims)
    
18.    RAIN OIL LIMITED (5 Claims)
    
19.    SAHARA ENERGY RESOURCES LIMITED (2 Claims)
    
20.    SHORELINK OIL AND GAS SERVICES LIMITED (2 Claims)
    
21.    SWIFT OIL LIMITED (1 Claim)
    
22.    TECHNO OIL LIMITED (3 Claims)
    
23.    TOTAL NIGERIA PLC (1 Claim)
    
24.    ZALEX ENERGY RESOURCES LIMITED (1 Claim)
    
    Grand Total:  N78,899,342,509.65
 
*Some claims were settled before substantive implementation of the Aig-Imoukuede Committee’s Report which led to the suspension of payments of all 2012 claims to oil marketers under investigation for serious infractions.
    
Please note that of the total amount of N78.9 billion paid so far under this category, N34.6 billion was paid on Wednesday, August 22, 2012 following a thorough process of claims verification. This is in line with the commitment of the Federal Ministry of Finance to continue the payment of marketers whose papers have been processed and cleared.
 
 TABLE 2:
        
PAYMENTS MADE BY THE FEDERAL MINISTRY OF FINANCE
TO OIL MARKETERS IN 2012 AGAINST 2011 ARREARS.
        
    S/NO    NAME OF OIL MARKETER
    1    ACORN PLC
    2    AITEO ENERGY RESOURCES
    3    AMG PETRO-ENERGY LIMITED
    4    ANOSYKE GROUP OF COMPANIES
    5    ASCON OIL COMPANY LIMITED
    6    AX ENERGY LIMITED
    7    A-Z PETROLEUM
    8    BAYWOOD CONTINENTAL LIMITED
    9    BRITANIA .U. NIGERIA LIMITED
    10    CAADES OIL & GAS LIMITED
    11    CAH RESOURCES ASSOCIATED LIMITED
    12    CAPITAL OIL & GAS INDUSTRY LTD
    13    CARNIVAL ENERGY OIL & GAS LTD
    14    CEOTI LIMITED
    15    CHANNEL OIL & GAS SVS
    16    CONOIL PLC
    17    CRUST ENERGY LIMITED
    18    DEE JONES PETROLEUM & GAS LIMITED
    19    DOWNSTREAM ENERGY SOURCE LTD
    20    DUPORT MARINE LIMITED
    21    ECO-REGEN LIMITED
    22    ETERNA OIL & GAS PLC
    23    EURAFIC OIL & COASTAL SERVICE  LIMITED
    24    FARGO PETROLEUM & GAS LIMITED
    25    FIRST DEEP WATER DISCOVERY LIMITED
    26    FOLAWIYO ENERGY
    27    FORTE OIL PLC
    28    FRADO INTERNATIONAL LIMITED
    29    FRESH SYNERGY LIMITED
    30    GEACAN ENERGY LIMITED
    31    HEYDEN PETROLEUM LIMITED
    32    HONEYWELL OIL & GAS LIMITED
    33    IBAFON OIL LIMITED
    34    INTEGRATED OIL & GAS
    35    KNIGHT BRIDGE OIL
    36    LLYODS ENERGY LIMITED
    37    LOTTOJ OIL & GAS LIMITED
    38    MASTERS ENERGY OIL & GAS LIMITED
    39    MATRIX ENERGY LIMITED
    40    MOB INTEGRATED SERVICES
    41    MOBIL OIL NIGERIA NIGERIA PLC
    42    MOMATS OIL & GAS LIMITED
    43    MRS OIL & GAS CO. LIMITED
    44    MRS OIL NIGERIA PLC
    45    MRS OIL NIGERIA PLC
    46    NADABO ENERGY LIMITED
    47    NASAMAN OIL SERVICES LIMITED
    48    NATICEL PETROLEUM LIMTIED
    49    NIPCO PLC
    50    NORTHWEST PETROLEUM & GAS CO LTD
    51    OAKFIELD SYNERGY NETWORK LTD
    52    OANDO NIGERIA PLC
    53    OBAT OIL & PETROLEUM LIMITED
    54    OIL BATH NIGERIA LIMITED
    55    ORIGIN OIL & GAS LIMITED
    56    PETROL TRADE ENERGY LIMITED
    57    PHOENIX OIL COMPANY LIMITED
    58    PINNACLE CONTRACTOR LIMITED
    59    PINNACLE OIL & GAS LIMITED
    60    PRUDENT ENERGY & SERV. LTD
    61    RAHAMANIYYA OIL & GAS LIMITED
    62    RAINOIL LIMITED
    63    ROCKY ENERGY LIMITED
    64    RYDEN OIL LIMITED
    65    SAHARA ENERGY RESOURCES LIMITED
    66    SEA PETROLEUM & GAS COMPANY LTD
    67    SHORELINK OIL & GAS LIMITED
    68    SIFAX OIL & GAS COMPANY LIMITED
    69    SIRIUS ENERGY RESOURCES LIMITED
    70    SOMERSET ENERGY SERVICES LIMITED
    71    TECHNO OIL LIMITED
    72    TONIQUE OIL SERVICES LIMITED
     73    TOP OIL & GAS DEVELOPMENT LIMITED
     74    VALCORE ENERGY LIMITED
     75    VENRO ENERGY LIMITED
     76    VIVENDI ENERGY NIGERIA LIMITED
     77    XALON PETROLEUM LIMITED
     78    ZALEX ENERGY RESOURCES LIMITED
     79    ZAMSON GLOBAL RESOURCES LIMITED
        
        
        TOTAL AMOUNT SETTLED: N259,339,041,657.85