The Nigerian National Petroleum Corporation on Sunday announced that about 98 per cent of all documents involved in the sale of crude oil were fake.

It cautioned unsuspecting would-be crude oil buyers to be mindful of the activities of local and international fraudsters in the oil and gas sector.

Proving insights into the modus operandi of the conmen, the NNPC’s Group General Manager, Crude Oil Marketing Division, Mr. Mele Kyari, said the corporation had no habit of selling crude oil from hotel rooms as done by the scammers.

He stated that the good thing in all the unwholesome development was the fact that the NNPC documents had not leaked and stressed that nearly 98 per cent of all the documents involved were produced by scammers.

Kyari, however, noted that in line with the Federal Government’s anti-corruption crusade and corporation’s commitment towards promoting transparency and accountability, the NNPC had been collaborating with relevant security agencies such as the Nigeria Police Force, the Department of State Services and the Economic and Financial Crimes Commission to check the fraudsters.

“Already, this massive collaboration with security agencies is paying off. Some arrests have been made while, on our part, we assist the security agencies by providing evidence in the course of their prosecution,” he was quoted in a statement issued by the spokesperson for the NNPC, Ndu Ughamadu.

Shedding more light on the scammers’ modus operandi, Kyari said they usually lured their unsuspecting victims with higher discount offers on cargoes, offers of non-OPEC crude specification, crude allocation, and presentation of crude oil sale letters as well as conducting business from hotels.

“The entire public should know that the NNPC doesn’t do business of crude oil marketing from hotel rooms,” he said.

He reiterated that there was only one way of buying crude oil from the NNPC, which was through advertisement for the selection of customers screened for compliance with the corporation’s expectations and standards.

Kyari said, “There are very high standards we have set and if you don’t meet them, you cannot be our customer. And once you become our customer, we sign a single annual contract with you.”

He observed that the crude contracts were typically 30,000 to 32,000 barrels per day, which accumulated into a standard cargo size of 950,000bpd monthly and not two to three million bpd contracts as peddled by the scammers.

Kyari said that for the crude oil sale processes to be completed, the customer had to show the capability to sell the cargo to the market and that the corporation could get its money back.

According to him, the entire process of crude oil marketing had become seamless and real-time with electronic platforms such as Platts and Argus acting as reporting agencies for global crude trading programmes.

He said, “The beauty of selling crude oil is that the moment we sell the crude oil cargo to you, the entire world knows that cargo X is with Mr. Y. So you see, you don’t have to scavenge for who buys your crude.”

Source: http://punchng.com/98-of-documents-in-crude-sale-transactions-fake-nnpc/

Even the country as a whole is a fake project.

Tell me what is not fake in this country.

Really? : #ndiara

Lalasticlala

i talk am
everything about nigeria is fake

stupid country

Ok

Really?

Even the president is still parading around with a fake WASC certificate so no surprises here

And the corruption continues even with the sheriff cum minister of petroleum in town,this is no longer about diezani but the institutionalized broad day light robbery and stealing in govt owned agencies and corporations ,this level of corruption knows no political party neither did it Start today, the same people who are in power today have been beneficiaries of these looting in the past but decide to deceive the people on political party lines. whether Nigeria will ever get it right is a question that cannot be answered.

f

Just say 100%

I almost fell a victim to this.

So who do we blame for this?

The corruption in Nigeria stinks to high heavens.

The leadership is corrupt.

The people are worse.

The security agencies are the worst.

God save us all.

If we keep trading on this part then Nigeria is gone.
Thing keep falling apart each day
Nigeria has gone down the drain

Awa oye don sorfa

Who produces the fake document?
Who handle the fake document?
Who n who transact with the fake document?
Wait let me ask Min of Petroleum he us back.

even buhari is fake, the real one is in London

Please guys let's ignore every tribalist in this forum and not reply their tribalism with tribalism but with silence. Trust me that's the way we can beat tribalist. 

I know it hurts insulting your lineage but PLEASE IGNORE THEM
IGNORE THEM and watch as our silence kill them inside and drive them mad. 

They may end up creating more monicker to reply themselves, still IGNORE and in the end OUR COLLECTIVE SILENCE will make a fool of them.

Every sane and educated person, please copy and paste along your text on Nairaland let everybody see it and let's KILL CYBER TRIBALISM.

Thanks for cooperating.

Fake?
Everything in Nigeria is as fake as China product

no wonder, even or president is fake, imported from britain

Smh. Hope dey for this country so?

Thought Mr Ratmus Buhari is suppose to be Petroleum Minister How come the transactions are fake even with his nansense corruption drive

I don tire a beg. 98% fake documents? This government is a joke.

No need even without be told, how can you tell T.Y Danjuma is one of the richest people in Africa but Obj name who was the head of state then is nowhere to be found. Tomorrow they will tell us Dangote is the richest man in Africa then IBB and OBJ are where please fake country fake smiles fake setup.


For your Businesss idea, and management,
job-tips, available loans and important of
insurance check
my signature.

torrent231:
The Clock is ticking cause you dont ve to keep loosing on unsure bet, Great win yesterday & thanks to God for success and kudos to winners. View won Ticket pic for your Ecstasy.

Why didnt you stake 2 million?

Our president possess 100% fake WAEC certificate. so you should be glad that NNPC is having just 98% fake.

torrent231:
The Clock is ticking cause you dont ve to keep loosing on unsure bet, Great win yesterday & thanks to God for success and kudos to winners. View won Ticket pic for your Ecstasy.

We dey talk fake document you still carry your own come.