Firm clarifies role in EFCC recovery of outstanding pipeline fees

Nembe Exploration and Production Company Limited has clarified its role in the recent recovery of outstanding pipeline transportation fees by the Economic and Financial Crimes Commission (EFCC). The company, formerly known as Aiteo Eastern Exploration and Production Company Limited, insisted that the recovered funds were owed to its joint venture (JV) and not taken from the company.

Nembe clarified that it operated the Nembe Creek Trunkline (NCTL) on behalf of its JV with the Nigerian National Petroleum Company Limited (NNPCL), providing crude oil transportation services to third-party operators, including Newcross Exploration and Production Limited. The outstanding transportation fees accumulated due to operational challenges faced by the oil and gas industry, such as crude oil theft, pipeline vandalism, insecurity, and disruptions caused by the COVID-19 pandemic.

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