Monday, November 20, 2017

‘Oil fraud’: chamber wants speedy conclusion to probe*


pt lisas
 
THE Energy Chamber says it is “very concerned” about allegations of fraud in the transfer and sale of oil from A&V Oil and Gas Ltd to Petrotrin.
The chamber yesterday called for a speedy conclusion to the internal investigations and that Petrotrin take all appropriate measures based on the final findings of the investigation, including referring the report to the police once due process is followed.
The chamber said it supported any comprehensive investigation into operators that sell oil to Petrotrin and appropriate action being taken whenever appropriate.
“People must be held accountable for their action or inaction.”
The chamber said lease and farm-out operatorships and incremental production-sharing contract systems have delivered approximately 50 million barrels of oil to Petrotrin since the programme was founded in the late 1980s.
“This oil could not have been profitably produced by Petrotrin and would have remained in the ground without the involvement of the smaller local and international oil companies in this programme. 

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