Kachikwu Cautions Chinese Businessmen Against Fraudulent Oil Deals In Nigeria

The Minister of State for Petroleum, Dr. Ibe Kachikwu has warned Chinese businessmen seeking information at the Nigerian Embassy in Beijing about offers for sale of crude oil from Nigeria, that such offers are scam as he reiterates that the era of discretionary sale of crude oil by the Nigeria National Petroleum Corporation (NNPC) is now a thing of history.

The Minister said this at the forum organized by officials of the Nigerian Embassy in Beijing who seeks clarification about the sale of crude oil in Nigeria following enquiries from Chinese businessmen who got illegal offers from Nigeria

Dr. Kachikwu explained that only 11 companies were approved to lift crude oil from Nigeria following an open bid process and that the next bids will hold in April 2017 and that Nigeria is also investigating reported discovery of Nigeria’s stolen oil in China.

The minister however, appealed to Chinese businessmen who buy stolen oil to desist from the act as it encourages vandalism and militancy in Nigeria

The meeting which was one of the activities on NNPC roadshow in China to seek investment for the repair and expansion of infrastructure in the nation’s oil industry, witnessed the signing of Over 50 billion dollars memorandum of understanding (MoU) for investments in the oil industry.


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