Audit-Report-on-NNPC

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Table of Contents Review of crude oil revenue 4.2.6. Other findings 58 4.2.7. Information provided subsequent to 28 November 2014. 58 4.3. Other Third Party Financing 60 4.3.1. Introduction 60 4.3.2. Procedures Performed 61 4.3.3. Limitations 61 4.3.4. Key Findings 62 4.3.5. Summary of findings 63 4.4. PMS & DPK Subsidy 64 4.4.1. Introduction 64 4.4.2. Procedures Performed 65 4.4.3. Limitations 67 4.4.4. Key Findings 67 4.4.5. Summary of Findings 74 4.4.6. Other Findings 75 4.5. NPDC Liftings 80 4.5.1. Introduction 80 4.5.2. Procedures Performed 81 4.5.3. Limitations 82 4.5.4. Key Findings 82 4.5.5. Summary of findings 87 4.6. Pipeline Maintenance and Management Costs 89 4.6.1. Introduction 89 4.6.2. Procedures Performed 91 4.6.3. Limitations 91 4.6.4. Key Findings 91 4.6.5. Summary of Findings 95 4.6.6. Subsequent information after submission of draft report 96 Vanguardngr 4.7. Crude and Products Losses 97 4.7.1. Introduction 97 4.7.2. Procedures Performed/ Work Done 98 4.7.3. Limitations 98 4.7.4. Findings 99 4.7.5. Summary of findings 103 4.8. Holding Cost of Strategic Reserve 104 4.8.1. Introduction 104 4.8.2. Procedures Performed/Work done 104 4.8.3. Limitation 104 4.8.4. Key Findings 105
Table of Contents Review of crude oil revenue 4.8.5. Summary of findings 106 5. Glossary of terms 107 6. Appendices and Exhibits 111 6.1. Appendices 112 6.1.1. Valuation of Crude Oil Revenue 112 6.1.2. Liftings with Valuation Differences 141 6.1.3. Valuation of extra NPDC Lifting captured by DPR 142 6.1.4. Domestic Remittance for January 2012 to July 2013 143 6.1.5. FIRS Remittance for the period January 2012 to July 2013 144 6.1.6. Summary of cash payments made by NPDC to FIRS 145 6.1.7. Summary of cash payments made by NPDC to DPR 146 6.1.8. Summary of cash payments made by TEPNG 146 6.1.9. Summary of cash payments made by Mobil Nigeria limited 147 6.1.10. Equity remittances to CBN/NNPC JP Morgan Account January 2012 – Jul 2013 148 6.1.11. Summary of Royalty payments into CBN/DPR JP Morgan Account 149 6.1.12. Details of unremitted equity revenue 150 6.1.13. Summary of the Valuation of Reserves Development Project 152 6.1.14. Satellite Field Development Project 152 6.1.15. Summary of the Lifting and Valuation on Usan Project 153 6.1.16. Remittances - RDP and SFDP 154 6.1.17. Summary of the Remittances on USAN Project 155 6.1.18. Revised PMS Subsidy Computation Using the Data Submitted to the Senate by DPR, PPPRA & NNPC 156 6.1.19. Revised DPK Subsidy Computation Using the Data Submitted to the Senate by DPR, PPPRA & NNPC 157 6.1.20. PMS & DPK Verified and Advised by PPPRA between January 2012 and July 2013 158 6.1.21. PMS & DPK Verified and Advised by PPPRA in 2014 159 6.1.22. PMS & DPK Acknowledged and verified in 2014 by PPPRA but yet to be Advised 159 6.1.23. Over Statement of PMS Subsidy by PPPRA 160 Vanguardngr 6.1.24. Quarter 4, 2011 Discharges included in the <strong>Report</strong> of the Senate Committee on Finance on the Investigation of the Alleged Unremitted $49.8 Billion Oil Revenue by NNPC 161 6.1.26 Summary of DPK Purchases from PPMC by Other marketers between January 2012 and July 2013 161 6.1.27. Summary of findings on pipeline maintenance and management costs 162 6.1.28. Vessels without records of visit to Nigeria per Lloyds Movement Records 163 6.1.29. List of sources of vessel tracking checks 165 6.1.30. Details of Discharges verified more than once by PPPRA (as highlighted) 165 6.1.31. Comparison of the Mother Vessel BL Quantity and the Total Observed Volumes 168 6.1.32. Lifting data from the Pre-shipment Inspection Agencies 170 6.1.33. List of Bank Accounts reviewed for proceeds of crude oil sales 171 6.2. Exhibits 172
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