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HomeNewsDiezani repudiate claims she gave $24bn crude oil swap deals without contract

Diezani repudiate claims she gave $24bn crude oil swap deals without contract

The former Minister for Petroleum Resources, Mrs. Diezani Alison-Madueke, who is currently undergoing extensive cancer treatment in London, has strongly refuted claims that she gave $24 billion oil swap deals without contract.

In a statement issued to journalists in Abuja, Mrs. Alison-Madueke 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.

She described the latest attack on her person as fabricated tissues of lies concocted to sustain the escalating evil narratives against her person.

Recalling the events and putting the facts in proper perspective, the former Minister who spoke through her spokesman, Mr. Clem Aguiyi insisted that what she gave were “Approvals for Renewal of Contract for firstly, a 1 Year Term each for both Messrs Trafigura Beheer BV and Messrs Society Ivoirienne de Raffinage (SIR) in August 2010 and then for a 2 Year Term in August 2011 for the same companies. The NNPC Subsidiary, Duke Oil, was given Approval for a 1 year Term in January 2011. Two other Approvals were consequently sought by the GMD, NNPC, the first of these on the 29th August 2014 was seeking to ratify all 3 aforementioned Approvals which had apparently variously expired during the course of 2013.


“In view of the criticality of the situation, the Minister immediately Approved/Ratified all 3 Renewals. Expiry of those terms were put at 31st Dec 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.

“The Minister noted the said lapses in expiration to renewal dates to be 7months for Duke Oil, 10 months for SIR and 12 Months for Trafigura.
Secondly, on the 28th of October 2014, following the recommendation of the then GMD, NNPC, the Minister approved OPAs for a new term of 2 years commencing from 1st January 2015. The entities recommended by NNPC were Sahara Energy Resources Ltd, Aiteo Energy and Duke Oil




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