EFCC Recovers Pipeline Fees for Nembe-NNPCL Joint Venture

The Economic and Financial Crimes Commission (EFCC) recently recovered outstanding pipeline transportation fees owed to the joint venture (JV) of Nembe Exploration and Production Company Limited and the Nigerian National Petroleum Company Limited (NNPCL). Nembe clarified that these funds were not recovered from the company itself, countering media reports that suggested otherwise.

The outstanding fees were due to the use of the Nembe Creek Trunkline (NCTL) by third-party operators, including Newcross Exploration and Production Limited. Nembe, which operates the NCTL on behalf of the JV, stated that it had made multiple efforts to recover these fees before the EFCC's intervention.

The company attributed the outstanding payments to issues such as crude oil theft, pipeline vandalism, and operational disruptions. It emphasized that the recovered funds were for services rendered and not indicative of any wrongdoing on its part.

Additionally, Nembe mentioned that a separate stamp duty issue related to Oil Mining Lease 29 was still under reconciliation with authorities.