Firm clarifies role in EFCC recovery of outstanding pipeline fees
Nembe Exploration and Production Company has clarified its role in the EFCC’s recovery of outstanding pipeline fees, stating the funds were owed to its JV. Read More: https://punchng.com/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 insisted that the recovered funds were owed to its joint venture 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) and provided crude oil transportation services to third-party operators.
The company attributed the accumulation of the outstanding payments to operational challenges, including crude oil theft, pipeline vandalism, insecurity, and disruptions associated with the COVID-19 period.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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