According
to report, these companies claimed payments for consignments brought in by
ships which investigations revealed were either non-existent or were somewhere
else in the world! 
See the table below for analysis. S/N
OM/T 
INFRACTION DESCRIPTIONS 
  
AMOUNT 
1 
ALMINNUR RESOURCES LIMITED 
  
Subsidy payments for which mother vessels were no Longer operational at the
time of transshipment and no shipping documents 
  
        504,329,535.27 
Subsidy payments for which mother vessels were no Longer operational at the
time of transshipment and no shipping documents 
  
        546,700,899.36 
  
  
       1,051,030,434.63 
2 
BRILLA ENERGY LIMITED 
  
Subsidy payments for which mother vessels were not found in locations claimed
at the time of transhipment 
  
        963,796,199.85 
  
3 
CAADES OIL AND GAS LTD 
  
No evidence of Sales proceeds in banks 
  
        487,799,826.80
4 
CAPITAL OIL & GAS INDUSTRY LTD 
  
Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading 
  
        984,440,711.38 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     1,480,444,043.58 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     1,832,280,164.36 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     2,110,438,332.44 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     2,490,576,987.15 
  
  
  
  
8,898,180,238.91 
5
CAPITAL OIL PLC 
  
Subsidy payments for which mother vessels were not found in the locations claimed at the time of transhipment 
  
        608,077,964.00 
  
Subsidy payments for which mother vessels were not found in the locations claimed at the time of transhipment 
  
        608,220,553.20 
  
  
  
  
1,216,298,517.20
6 
CEOTI LIMITED 
  
Specially mentioned transactions with various infractions. Transactions were discovered to be bills for collection transactions, but as at the time of the review it was discovered that the shipping documents evidencing arrival of the products had not been submitted to the respective banks for payment:. 11/07/12 : OM/T to provide letter from their bankers confirming that they financed the transaction. 
  
     1,773,421,842.01
7 
CONOIL PLC 
  
Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading 
  
     1,065,934,768.66 
  
Subsidy payments without proof of existence of the mother vessel bill of lading or daughter vessel bill of lading 
  
     1,882,143,309.24 
  
  
  
  
2,948,078,077.90
8 
DOWNSTREAM ENERGY SOURCE LTD 
  
Subsidy payments for which mother vessels could not be traced 
  
        789,648,329.25 
  
Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates 
  
        984,440,711.38 
  
  
  
  
1,774,089,040.63
9 
ETERNA PLC 
  
Subsidy payments for which there were no shipping documents or evidence of payment for the products in foreign exchange. (Form 'm' 945404) 
  
        578,295,672.84 
  
No evidence of sales proceeds in the bank. 
  
        626,465,370.06 
  
Subsidy payments without proof of existence of mother vessel bill of Lading or Daughter bill of Lading. (Form 'm' 926342) 
  
        917,895,596.40 
  
  
  
  
2,122,859,123.70
10 
EURAFRIC OIL & GAS LTD 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
        955,688,127.82 
  
Subsidy payments for which mother vessels were no longer operational at the time of transhipment 
  
  
     1,306,170,995.88 
  
  
  
  
2,261,859,123.70
11 
HEYDEN PETROLEUM 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
        594,714,089.31
 12 
LUMEN SKIES LTD 
  
Transactions disclaimed by banks 
  
        267,521,051.32 
  
Transactions disclaimed by banks 
  
        507,266,701.54 
  
  
  
  
     774,787,752.86
13 
MAJOPE INVESTMENT LTD 
  
Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates 
  
        959,813,734.22
14 
MASTER ENERGY OIL & GAS LTD 
  
Subsidy payments for which mother vessels could not be traced 
  
     1,454,308,353.50 
  
Subsidy payments for which mother vessels could not be traced 
  
     1,454,687,937.79 
  
  
   2,908,996,291.29
15 
MATRIX ENERGY LIMITED 
  
Subsidy payments for which mother vessels could not be traced 
  
        560,744,384.56 
  
Subsidy payments for which mother vessels could not be traced 
  
     1,274,372,887.98 
  
Specially mentioned transactions with various infractions. Transactions were Bills for collection and as at the time of review no shipping document evidencing payment was available.   MAT/2031/MAS/PMS/28/09/11 
  
     1,301,904,784.71 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment. MAT/1679/MAS/PMS/27/04/11 
  
     1,501,684,359.70 
  
Subsidy payments for which mother vessels could not be traced. MAT/2031/MAS/PMS/28/09/11 
  
     1,595,095,720.20 
  
  
  
  
6,233,802,137.15
16 
MENOL OIL & GAS LIMITED 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     1,691,595,830.87
 17 
MOB INTERNATIONAL SERVICES 
  
No evidence of Sales proceeds in banks 
  
     1,019,068,114.10 
  
No evidence of Sales proceeds in banks 
  
     1,118,260,800.00 
  
  
  
  
2,137,328,914.10
 18 
MRS OIL & GAS PLC 
  
Subsidy payments for which there were no shipping documents or evidence of payment for the products in foreign exchange 
  
     6,086,531,305.33
 19 
NASAMAN OIL SERVICES LTD 
  
Subsidy payments for which mother vessels were no longer operational at the time of transhipment 
  
        598,723,358.04 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
        749,991,273.36 
  
Subsidy payments without the signature of external auditors and independent inspectors on shore tank certificates 
  
        881,350,767.57 
  
No evidence of Sales proceeds in banks 
  
     1,631,342,040.93 
  
  
  
  
3,861,407,437.90
 20 
NATICEL PETROLEUM LIMITED 
  
Specially mentioned transactions with various infractions. No shipping document in bank and no evidence of payment for product 
  
     1,514,333,360.64 
  
No evidence of Sales proceeds in banks 
  
     1,567,037,317.70 
  
  
  
  
3,081,370,678.34
 21 
OCEAN ENERGY TRADING & SERVICES LTD 
  
Subsidy payments for which mother vessels could not be traced 
  
1,778,180,051.20
 22 
PINNACLE CONTRACTORS LTD 
  
Subsidy payments for which mother vessels were not found in locations claimed at the time of transhipment 
  
     1,227,601,783.20 
  
Subsidy payments for which mother vessels were no longer operational at the time of transhipment 
  
     1,528,044,960.84 
  
  
  
  
2,755,646,744.04
23 
SIFAX OIL AND GAS COMPANY 
  
Subsidy payments for which mother vessels were no longer operational at the time of transhipment 
  
1,033,119,489.60
24 
TONIQUE OIL SERVICES LTD 
  
No evidence of Sales proceeds in banks 
  
     1,575,014,046.51
25 
TOP OIL AND GAS DEVELOPMENT COMPANY LIMITED. 
  
Subsidy payments for which mother vessels were no Longer operational at the time of transshipment and no shipping documents 
  
1,092,496,724.55 
  
Subsidy payments for which mother vessel could not be traced and no shipping documents were sighted 
  
1,268,236,760.88 
  
  
  
  
2,360,733,485.43