Taleveras, a leading global energy and services company, active in all key areas of the oil and gas industry: upstream, midstream and downstream, says that all its third party contracting meets international standards.
The company, while reacting to an online publications relating to a case against Atlantic Drilling Fluids, reiterates that the legal case is not against Taleveras or Igho Sanomi.
In a statement signed by Alex School, legal counsel to the company, it discloses that “in relation to the US department case against Atlantic Drilling Fluids, Taleveras and the other two major oil trading houses (Glencore and Arcadia) were not faulted for embarking on a legitimate transaction, as all payments were made based on legitimate third party contracts with private companies and not NNPC.”
It observes that this process involves verification of the contracts with the issuing authority to authenticate and “further compliance with our lending banks internal due diligence processes.” This is not different from international trading standards performed by the numerous international and major oil and gas companies operating in Nigeria.
According to the company, “The ultimate aim of contracting is to off-take crude oil from asset productions. It is worthy to note that neither Taleveras nor its associated companies lifted any oil from this production. Terms of the agreement were breached and hence a legal dispute and appropriate filings made in respected court of jurisdiction.”
In setting the record straight, the statement says one of Taleveras core activities since 2000, is sourcing, trading and engaging in third party contracts, inclusive of oil and gas upstream operations. Taleveras, due to its capacity, trading expertise and financial strength, continues to source and engage in procuring third party oil contracts.
Taleveras performs on these contracts handling the physical delivery, risk management and logistics from start point to its numerous first class end users and major refiners.
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