Nigerian Government Probes Theft In $1.1bn Oil Well

The largest oil and gas field financing transaction of about $1.1bn – Oil Mining License 17, owned by billionaire business tycoon, Tony Elumelu, is currently under investigation following the uncovering of an illegal oil bunkering facility connected to it. <br />The investigation was necessitated after the Nigeria Security and Civil Defence Corps uncovered an illegal local refinery at Otamiri-Etche, Etche Local Government Area of Rivers State. <br />The illegal refinery steals crude from OML17 fields operated by Heirs Holding Oil and Gas Limited. <br />