Audit-Report-on-NNPC

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Investigative Forensic audit of crude oil revenues and remittances by NNPC (January 2012 – July 2013) CALSON 19/02/12 QIL 950,192 122.951 122.951 116,827,056.59 116,827,056.59 NAPOIL 25/03/13 QIL 949,776 127.058 127.058 120,676,639.01 120,676,639.01 CALSON 24/04/12 QIL 949,899 119.413 119.413 113,430,289.29 113,430,289.29 NAPOIL 12/05/12 QIL 950,114 112.692 112.692 107,070,246.89 107,070,246.89 CALSON 22/05/12 QIL 950,314 103.607 103.607 98,459,182.60 98,459,182.60 NAPOIL 09/06/12 QIL 950,020 99.043 99.043 94,092,830.86 94,092,830.86 SAHARA 04/03/13 QIL 912,326 110.624 110.624 100,925,151.42 100,925,151.42 DUKE OIL 22/02/13 QIL 949,926 112.504 112.504 106,870,474.70 106,870,474.70 DUKE OIL 30/03/13 QIL 950,349 109.201 109.201 103,779,061.15 103,779,061.15 CALSON 04/04/13 QIL 950,057 101.208 101.208 96,153,368.86 96,153,368.86 CALSON 08/06/13 QIL 949,803 106.588 106.588 101,237,602.16 101,237,602.16 SAHARA 17/07/13 QIL 997,397 110.316 110.316 110,028,847.45 110,028,847.45 GLENCORE 28/04/12 USAN 997,412 117.880 117.880 117,574,926.56 117,574,926.56 VITOL 08/05/12 USAN 997,445 108.671 108.671 108,393,345.60 108,393,345.60 ASTANA 01/06/12 USAN 997,333 95.082 95.082 94,828,416.31 94,828,416.31 GLENCORE 18/06/12 USAN 996,811 91.634 91.634 91,341,779.17 91,341,779.17 GLENCORE 06/07/12 USAN 995,440 96.407 96.407 95,967,384.08 95,967,384.08 VITOL 30/06/12 USAN 997,278 105.965 105.965 105,676,563.27 105,676,563.27 VITOL 19/08/12 USAN 996,969 111.793 111.793 111,454,155.42 111,454,155.42 SOCAR TRADING 05/09/12 USAN 994,851 112.202 112.202 111,624,271.90 111,624,271.90 TEMPO 22/09/12 USAN 996,066 108.300 108.300 107,873,947.80 107,873,947.80 GLENCORE 10/08/12 USAN 981,869 110.793 110.793 108,784,212.12 108,784,212.12 OTPF TOTAL 22,311,591 2,430,339,329.57 2,430,339,329.57 GRAND TOTAL 615,549,722 68,175,124,209.10 68,208,033,799.53 Vanguardngr 140
Investigative Forensic audit of crude oil revenues and remittances by NNPC (January 2012 – July 2013) 6.1.2. Liftings with Valuation Differences S/N Customer Revenue Stream B/L Date Pricing Option on schedule Quantity Lifted (Bbls) (COMD) Unit Price ($) Expected Price Price Differential ($) (Over)/Under Pricing 1 OCEANBED Equity 26/03/2012 ADVANCED 947,125 116.301 125.816 9.515 9,011,894.38 2 OCEANBED Equity 20/08/2012 ADVANCED 995,723 105.596 115.181 9.585 9,544,004.96 18,555,899.34 3 FUJAIRAH Equity 14/04/2012 DEFERRED 992,051 121.218 122.03 0.812 805,545.41 4 KRPC/WRPC Domestic - Local refining 7/11/2012 PROMPT 213,912 101.543 104.806 3.263 697,994.86 1,503,540.27 5 SIR Domestic - OPA 5/23/2013 DEFERRED 950,435 105.245 106.308 1.063 1,010,312.41 6 KRPC/WRPC Domestic - Local refining 10/22/2012 DEFERRED 798,933 109.783 109.926 0.143 114,247.42 7 SAHARA Domestic - Unutilized crude 10/27/2012 ADVANCED 499,389 109.749 109.873 0.124 61,924.24 8 TEMPO Equity 30/01/2013 PROMPT 949,629 116.606 118.977 2.371 2,251,570.36 9 SIR Domestic - OPA 6/30/2012 DEFERRED 950,335 93.507 102.095 8.588 8,161,476.98 11,599,531.59 10 TRAFIGURA Domestic - SWAP 7/30/2013 ADVANCED 906,088 110.766 112.116 1.35 1,223,218.80 11 TRAFIGURA Domestic - SWAP 5/20/2013 DEFERRED 949,729 105.485 105.034 -0.451 -428,327.78 12 AITEO Domestic - SWAP 11/21/2012 ADVANCED 949,566 110.269 110.296 0.027 25,638.28 13 CALSON LTD Domestic - Unutilized crude 8/29/2012 DEFERRED 995,579 115.373 115.805 0.432 430,090.13 2,107,274.99 TOTAL 32,909,590.43 Vanguardngr 141
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