It’s more news the North wants GEJ out of
the way, so their licenses can be renewed
cos most of them are expiring from 2016
upwards.
Monumental injustice is being perpetrated
to the people of Niger Delta on whose soil
the oil was found.
These people constitutes the main
opposition to President Goodluck Jonathan
today. Please Read on:
(1) This oil block business is so lucrative
that Danjuma’s Sapetro divested of its
investment in Akpo condensate for
$1billion dollars. This business is second
to none in Nigeria. That is why any attempt
to investigate the activities in this sector
will always be futile. The money is so
much that they give bribes in millions of
dollars.
A birthday gift or child naming gift from an
oil block owner to a government official
could be as paltry as $2million dollars, and
if the official’s father died, the condolence
gift could reach mere $3 million dollars.
When they want to bribe legislators, it is in
millions of dollars and any ongoing
investigation ends within weeks. They are
so confident that with excess money they
can buy up Nigeria and they are
succeeding
(2) OML 110 with high yield OBE oil fields
was given Cavendish Petroleum owned by
Alhaji Mai Daribe, the Borno Patriarch in
1996 by Sanni Abacha. OBE oil field has
estimated over 500 million barrels of oil. In
layman’s language and using average
benchmark of $100 dollars per barrel,
translates to $50 billion dollars worth of oil
reserve. When you remove the taxes,
royalties and sundry duties worth about
60% of the reserve payable over time you
get about $20billion dollars worth of oil in
the hands of a family.
(3) OPL 246 was awarded to SAPETRO, a
company owned by General Theophilus
Danjuma, by Sanni Abacha in 1998. Akpo
condensate exports about 300,000 barrels
of crude daily.
(4) NOML 112 and OML 117 were awarded
to AMNI International Petroleum
Development Company owned by Colonel
Sanni Bello in 1999. Sanni Bello is an
inlaw to Abdulsalami Abubakar, former
Head of State of Nigeria.
(5) OML 115, OLDWOK Field and EBOK field
was awarded to Alhaji Mohammed Indimi
from Niger State. Indimi is an inlaw to
former Military President Ibrahim
Babangida.
(6) OML 215 is operated by Nor East
Petroleum Limited owned by Alhaji Saleh
Mohammed Gambo.
(7) OML 108 is operated by Express
Petroleum Company Limited is owned by
Alhaji Aminu Dantata.
(8) cool OML II3 allocated to Yinka Folawiyo
Pet Ltd is owned by Alhaji W.I. folawiyo
(9)ASUOKPU/UMUTU marginal oil fields is
operated by Seplat Petroleum. Seplat is
owned by Prince Nasiru Ado Bayero,
cousin to the Central Bank Governor
Lamido Sanusi. This oil field has the
capacity of 300,000 barrels of oil daily.
This translates to $30million dollars daily
at average benchmark of $100 dollars per
barrel. Deducting all sundry taxes,
royalties etc , this field can yield $12billion
dollars daily for the owners .
(10)Intel owned by Atiku, Yarádua and Ado
Bayero has substantial stakes in Nigeria’s
oil exploration industry both in Nigeria and
Principe and Sao Tome.
(11) AMNI owns two oil blocks OML 112
and OML 117 which it runs Afren plc and
Vitol has substantial stakes in oil blocks.
Afren plc is operating EBOK oil fields in
OML 67. Vitol lifts 300,000 barrels of
Nigerian oil daily. Rilwanu Lukman, former
OPEC Chairman has stakes in all these
named three companies.
(12) OPL 245 was awarded to Malabu Oil&
Gas Company by Sanni Abacha. Dan Etete,
Abacha’s oil minister owns Malabu Oil. In
2000, Vice President Atiku Abubakar
convinced Obasanjo to revoke OPL 245
given to Malabu Oil. Etete had earlier
rejected Atiku’s demand for substantial
stakes in the high yield OPL 245 and it
attracted the venom of Ota Majesty who
revoked the licence. However, in 2006,
Obasanjo had mercy on Dan Etete and gave
him back his oil block worth over $20
billion dollars.
(13) OPL 289 and OPL 233 was awarded
during Obasanjo era to Peter Odili fronts,
Cleanwater Consortium, consisting of
Clenwater Refinery and RivGas Petroleum
and Gas Company. Odili’s brother in law,
Okey Ezenwa manages the consortium as
Vice Chairman.
(14) OPL 286 is managed by Focus Energy
in partnership with BG Group, a British oil
concern. Andy Uba has stakes in Focus
Energy and his modus operandi is such
that you can never see his name in any
listings yet he controls OPL and OML
through proxies
(15)OPL 291 was awarded to Starcrest
Energy Nigeria Limited, owned by Emeka
Offor by Obasanjo . Immediately after the
award, Starcrest sold the oil block to
Addax Petroleum Development Company
Limited (ADDAX) Addax paid Sir Emeka
Offor a farming fee of $35million dollars
and still paid the signature bonus to the
government. Emeka Offor still retains stake
in ADDAX operations in Nigeria.
(16) Mike Adenuga’s Conoil is the oldest
indigenous oil exploration industry in
Nigeria. Conoil has six oil blocks and
exports above 200,000 barrels of crude
daily.
(17)The oil block national cake sharing
fiesta could take twists according to the
mood of the Commander-in –Chief at the
particular time. In 2006, Obasanjo revoked
OPL 246 which Abacha gave to Danjuma
because he refused to support the tenure
elongation bid of the Ota Majesty. In 2000,
Obasanjo had earlier revoked OPL 241
given to Dan Etete under the advice Atiku.
However, when the Obasanjo-Atiku faceoff
started, the Ota Majesty made a u-turn and
handed back the oil block to Etete.
(18)During the time of Late President
Yarádua , a panel headed by Olusegun
Ogunjana was set up to investigate the
level of transparency in the award of oil
blocks. The panel recommended that 25 oil
blocks awarded by the Obasanjo be
revoked because the manner they were
obtained failed to meet the best practices
in the industry. Sadiq Mahmood,
permanent secretary in the Ministry of
Petroleum endorsed the report to then
president with all its recommendations. As
a result of the report Yarádua revoked
eleven oil blocks.
(19) In April 2011 Mike Adenuga attempted
to buy Shell’s OML 30 for $1.2 billion
dollars. The Minister for Petroleum and
Nigeria’s most powerful woman refused
the sale of the OML30 to Adenuga citing
national interest. This block was later sold
to Heritage Oil for $800 million dollars
eleven months later.
(20) In the name of competitive bidding,
which Obasanjo introduced in 2005,
Officials bring companies overnight and
through processes best described as
secretive and voodooist they award blocks
to party faithful, fronts and phoney
companies. They collect gratifications
running into hundreds of millions of dollars
which is paid into offshore account and the
nation loses billions of dollars of revenue
to private pockets.
During the third term agenda, Obasanjo
was deceived that the allocation of oil
block to party faithfuls is to fund the third
term agenda. With the failure of the third
term, the beneficiaries went home with
their fortunes and thanked God or Allah for
buttering their bread.
Senator Andy Uba co ordinate the award of
the last rounds of oil block by Obasanjo in
2005 and 2007. The then minister of
petroleum, Edwin Daukoru was a mere
errand boy who took instructions from the
presidential aide
The process of sharing Nigeria’s oil block
national cake is as fraudulent now as when
Ibrahim Babangida started the process of
discretionary allocation of oil blocks to
indigenous firms. Discretionary allocation
of oil blocks entails that a president can
reward a mistress who performs
wonderfully with an oil block with capacity
for cumulative yield of over $20 billion
dollars without recourse to any process
outside of manhood attachments.
Babangida, Abacha, Abdulsalami and
Obasanjo awarded discretionary oil blocks
to friends, associates, family members,
party chieftains, security chiefs and all
categories of bootlickers, spokespersons
and cult members without any laid down
procedures.
The recipients of such oil blocks will get
funds from ever willing offshore financiers
and partners to graciously settle the
benefactors, the awarders, facilitators and
the Commander-in-Chief through fronts.
These settlements mostly paid into foreign
accounts runs into hundreds of millions of
dollars according to the potential yield of
the block.
Sometimes, the awarder (sharer of national
cake and direct intermediaries) demand
additional stakes in the bidding company.
The awarder sends fronts as part of the
directorship and management of the
bidding firms without leaving a link to
them. That is how the oil block national
cake is distributed to a few Nigerians.
Signature bonuses which are paid when an
investor successfully bids, wins and signs
agreement with the petroleum ministry,
running into tens of millions and sometimes
hundreds of millions of naira ,is often
waived off. There is actually no waiver;
rather a diversion of what would have been
paid to government t coffers is paid into
private purse as appreciation gifts.
That is why those in the Petroleum Ministry
dread retirement as though it signifies
going to hell fire. No matter how little your
influence, something substantial must
enter your hands especially in hard
currency. The nation loses billions of
dollars in diverted revenue whenever any
round of auction occurs.
The regime of President Goodluck is not
showing any signs of changing the status
quo. Controversies have trailed the
activities of the Minister of Petroleum and
many players in the Industry accuse her of
demanding stakes from every oil deal. It is
hoped that President Goodluck Jonathan
will remember his transformational
promise to Nigerians and endeavour to
face the hawks in the oil industry.
The angst in the air is so much that if this
monster of illegal allocation of oil block is
not addressed, the much touted revolution
could begin all of a sudden and all who
condoned this illegality at the expense of
hungry Nigerians may have nowhere to
hide.
Culled from How Babangida, Abubakar,
Abacha, Obasanjo Shared Nigeria’s Oil
Blocks
No comments:
Post a Comment