Three oil companies—Chorus Energy, Dubril Oil, and Belema Oil—have admitted to owing $5.54 million to Nigeria’s Federation Account, following an investigation by the House of Representatives Public Accounts Committee.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed the outstanding debts, while company representatives cited financial and operational challenges as reasons for non-payment. Chorus Energy promised to clear its balance by month-end, Dubril Oil planned to settle its debt after increasing production, and Belema Oil blamed a pipeline failure for its inability to pay.
Committee Chairman Hon. Akinlade Isaq condemned the delays and issued a two-week deadline for payment. The committee also warned that oil firms failing to respond to hearings would face consequences.
Additionally, other indebted companies, including Conoil Producing, Continental Oil, Enageed Resources, and Energia Limited, were named, with debts totaling millions of dollars. The committee reaffirmed its commitment to holding oil companies accountable.
