$24bn oil swap/OPA deals: They lied against me—Diezani
Former Minister for Petroleum Resources, Mrs.
Diezani Alison-Madueke, has described the
narratives of her former group managing
directors, GMDs, Nigerian National Petroleum
Corporation, NNPC, with regard to the ongoing
legislative probe of the oil swap and OPA deals
as fabricated tissues of lies.
The embattled former minister’s denial comes
as she strongly refuted claims that she approved
$24 billion for Renewal of the Crude Oil/Refined
Products Exchange Agreement, otherwise called
oil swap deals without contracts.
From the inception of the deal in 2009, Federal
Government was meant to realise about $1.82
million per 60,000 barrels per day, bpd, against
the then losses of $1.47 million being recorded
by the corporation.
It is uncertain if all the proceeds from the deal
were remitted to the federation account.
During their appearances before the legislators
last week, Mr. Austin Oniwon, who was GMD,
NNPC, from May 17, 2010 to June 12, 2012, and
Mr. Andrew Yakubu, June 12, 2012, to August 2,
2014, said Alison-Madueke had granted them
approvals for contracts extension.
In a statement meant to set the records straight
yesterday, she rejected some newspaper and
online reports, which claimed that she granted
an “extension” instead of ‘Approval for the
Renewal of Contracts’ for the swap
arrangements.
Alison-Madueke, who is currently undergoing
extensive cancer treatment in London, was
quoted as describing the latest attack as
“fabricated tissues of lies deviously concocted to
sustain the escalating evil narratives against her
person.”
Contracts approvals
The embattled former minister, who spoke
through her spokesman, Mr. Clem Aguiyi,
recalled that she gave the following approvals
for renewal of contract: one-year term each for
both Messrs Trafigura Beheer BV, and Messrs
Societe Ivoirienne de Raffinage (SIR), in August
2010; two-year term in August 2011 for the same
companies, and one-year term to NNPC
subsidiary, Duke Oil, in January 2011.
She added: “Two other approvals were
consequently sought by the GMD, NNPC, the
first of these on August 29, 2014, seeking to
ratify all three aforementioned approvals, which
had apparently variously expired during the
course of 2013.”
She said she approved all three “in view of the
criticality of the situation. Expiry of those terms
was put at December 31, 2014, following
assurances to the minister that the contractual
obligations of the parties to NNPC had, in fact,
been fully met, despite the regrettable lapse in
renewal time.”
In her narrative, the lapses in expiration to
renewal dates were put at seven months for
Duke Oil, 10 for SIR, and 12 months for
Trafigura.
OPA approvals
Furthermore, Alison-Madueke recalled that she
had given fresh approvals for Offshore
Processing Agreements, OPA, on October 28,
2014, following the recommendation of the then
Group Managing Director, GMD, NNPC.
The approvals included a new term of two years
commencing from January 1, 2015, for Sahara
Energy Resources Ltd; Aiteo Energy and Duke
Oil.
According to her, “NNPC strongly recommended
and outlined the benefits of the OPA over the
swaps and put forward the case for migration
from the OPA and crude exchange (SWAP)
contracts to OPAs fully.
“NNPC posited that the ‘experienced benefits of
the OPA to the Federation’ would be much
greater. All approvals were due process-driven
and were only given by the Minister, following
formal statutory written requests, which
contained the technical basis for the renewal
and were sent to the Minister by the GMD-
NNPC, as is the normal practice.
“NNPC had clearly requested for the approval of
the Minister for ‘Renewal of the Crude Oil -
Refined Products Exchange Agreement’ and
‘Renewal of Offshore Processing Agreement’ on
all the various occasions outlined earlier in this
press release.”
Her spokesman further noted that “whereas, it
is the Minister’s responsibility to either give or
refuse ‘approval’, it was not within her purview
as Minister to draft, initiate or conclude the
processes of signing the final contracts.
“It is the statutory responsibility of NNPC to
ensure that all technical areas are duly covered
and all requisite due process parameters are
duly implemented.”
Diezani Alison-Madueke, has described the
narratives of her former group managing
directors, GMDs, Nigerian National Petroleum
Corporation, NNPC, with regard to the ongoing
legislative probe of the oil swap and OPA deals
as fabricated tissues of lies.
The embattled former minister’s denial comes
as she strongly refuted claims that she approved
$24 billion for Renewal of the Crude Oil/Refined
Products Exchange Agreement, otherwise called
oil swap deals without contracts.
From the inception of the deal in 2009, Federal
Government was meant to realise about $1.82
million per 60,000 barrels per day, bpd, against
the then losses of $1.47 million being recorded
by the corporation.
It is uncertain if all the proceeds from the deal
were remitted to the federation account.
During their appearances before the legislators
last week, Mr. Austin Oniwon, who was GMD,
NNPC, from May 17, 2010 to June 12, 2012, and
Mr. Andrew Yakubu, June 12, 2012, to August 2,
2014, said Alison-Madueke had granted them
approvals for contracts extension.
In a statement meant to set the records straight
yesterday, she rejected some newspaper and
online reports, which claimed that she granted
an “extension” instead of ‘Approval for the
Renewal of Contracts’ for the swap
arrangements.
Alison-Madueke, who is currently undergoing
extensive cancer treatment in London, was
quoted as describing the latest attack as
“fabricated tissues of lies deviously concocted to
sustain the escalating evil narratives against her
person.”
Contracts approvals
The embattled former minister, who spoke
through her spokesman, Mr. Clem Aguiyi,
recalled that she gave the following approvals
for renewal of contract: one-year term each for
both Messrs Trafigura Beheer BV, and Messrs
Societe Ivoirienne de Raffinage (SIR), in August
2010; two-year term in August 2011 for the same
companies, and one-year term to NNPC
subsidiary, Duke Oil, in January 2011.
She added: “Two other approvals were
consequently sought by the GMD, NNPC, the
first of these on August 29, 2014, seeking to
ratify all three aforementioned approvals, which
had apparently variously expired during the
course of 2013.”
She said she approved all three “in view of the
criticality of the situation. Expiry of those terms
was put at December 31, 2014, following
assurances to the minister that the contractual
obligations of the parties to NNPC had, in fact,
been fully met, despite the regrettable lapse in
renewal time.”
In her narrative, the lapses in expiration to
renewal dates were put at seven months for
Duke Oil, 10 for SIR, and 12 months for
Trafigura.
OPA approvals
Furthermore, Alison-Madueke recalled that she
had given fresh approvals for Offshore
Processing Agreements, OPA, on October 28,
2014, following the recommendation of the then
Group Managing Director, GMD, NNPC.
The approvals included a new term of two years
commencing from January 1, 2015, for Sahara
Energy Resources Ltd; Aiteo Energy and Duke
Oil.
According to her, “NNPC strongly recommended
and outlined the benefits of the OPA over the
swaps and put forward the case for migration
from the OPA and crude exchange (SWAP)
contracts to OPAs fully.
“NNPC posited that the ‘experienced benefits of
the OPA to the Federation’ would be much
greater. All approvals were due process-driven
and were only given by the Minister, following
formal statutory written requests, which
contained the technical basis for the renewal
and were sent to the Minister by the GMD-
NNPC, as is the normal practice.
“NNPC had clearly requested for the approval of
the Minister for ‘Renewal of the Crude Oil -
Refined Products Exchange Agreement’ and
‘Renewal of Offshore Processing Agreement’ on
all the various occasions outlined earlier in this
press release.”
Her spokesman further noted that “whereas, it
is the Minister’s responsibility to either give or
refuse ‘approval’, it was not within her purview
as Minister to draft, initiate or conclude the
processes of signing the final contracts.
“It is the statutory responsibility of NNPC to
ensure that all technical areas are duly covered
and all requisite due process parameters are
duly implemented.”
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