Chevron, Shell, Seplat, Other Oil Giants Named In N9.4trn Debt Probe

The House of Representatives, through its Public Accounts Committee, has launched investigative hearings into significant outstanding debts owed by several oil companies to the Federation Account.

According to a statement released by House spokesperson Akin Rotimi on Sunday, the debts—totaling approximately N9.4 trillion—arise from unpaid royalties, concession rentals, gas flare penalties, and other financial obligations, including those linked to production-sharing contracts and repayment agreements.

Despite provisions in the Petroleum Industry Act mandating settlement within 30 days, many of these debts have remained unpaid since 2021.

The hearings are set to take place from March 3rd to 7th, 2025, at Meeting Room 446, Fourth Floor, House of Representatives, National Assembly Complex, Abuja. Oil companies identified in the Auditor General’s report from late 2024 have been summoned to provide necessary documents and appear before the committee.

Companies Named in the Investigation:

• Addax Petroleum Exploration Nigeria Ltd
• AITEO Group
• All Grace Energy
• Amalgamated Oil Company Nigeria Limited
• Amni International Petroleum Development Company Limited
• Belemaoil Producing Ltd.
• Bilton Energy Limited
• Britannia-U
• Waltersmith Petroman Limited
• Chevron Nigeria Ltd. (OML 90, 95, 49)
• Chorus Energy
• Conoil Plc
• Continental Oil & Gas Company Ltd.
• Dubri Oil Company Limited
• Engaged Resources Limited
• Shell Nigeria Exploration and Production Company
• Energia Limited
• Eroton Exploration & Production Company Limited
• Esso E & P. Ltd. (Usan, Erha)
• First E & P. Ltd.
• Frontier Oil Limited
• General Hydrocarbons Limited
• Green Energy International Ltd.
• Nigeria Agip Exploration Ltd. (NAE)
• Panocean Oil Nigeria Limited (OML 147)
• Neconde Energy Limited
• Newcross Exploration and Production Limited
• Newcross Petroleum (OML 152)
• Network Exploration & Production Limited
• Total E&P Nigeria (OML 100, 102, 52 & 99)
• Niger Delta Petroleum
• Nigeria Petroleum Development Company (NPDC) (OML 60, 61 & 63)
• Lekoil Oil and Gas Investments Limited
• Midwestern Oil and Gas Limited
• Millennium Oil and Gas Company Limited
• Seplat Energy (OML 4, 38 & 41)
• Oriental Energy Resources Limited
• Oando Oil Ltd. (OML 60, 61 & 62)
• Heirs Holdings
• Pillar Oil Limited
• Platform Petroleum Limited
• Shell Petroleum Development Company (OML 27)
• Universal Energy Limited/Sinpec
• Shoreline Natural Resources
• Star Deep Water Petroleum Limited
• Sahara Field Production Limited
• Mobil Producing Nigeria Unlimited (OML 67 & 70)

The Public Accounts Committee’s investigation seeks to ensure compliance with financial regulations and recover outstanding debts to the Federation Account.