Platts: Nigerian Auditors Find NNPC Failed to Remit $11.6 Bil in LNG Export Revenue

State-owned Nigerian National Petroleum Corporation has not remitted $11.6 billion in dividends and loan and interest repayments earned from exports from the Bonny LNG plant from 1999-2012, the country's oil industry auditors said late Tuesday. NNPC could not immediately be reached for comment Wednesday. The Nigerian Extractive Industry Transparency Initiative, or NEITI, said in a statement that the earnings represent NNPC's share of 49% equity ownership in Nigeria LNG Ltd., owner of the six-train, 22 million mt/year Bonny LNG plant.

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