Taleveras legal team has picked quarrel with what it called ‘misleading online publications’ relating to a case against Atlantic Drilling Fluids, saying that the legal case is not against Taleveras or Igho Sanomi.
“Some of these publications are misleading, grossly inaccurate, and it is thus proper to set the record straight.”
In a statement today, Tuesday, the legal team said that one of its core activities since 2000 is sourcing, trading and engaging in third party contracts, including oil and gas upstream operations.
The statement said that due to its capacity, trading expertise and financial strength, Taleveras had continued 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. 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 no different from International trading standards performed by the numerous international and major oil and gas companies operating in Nigeria.
“As it relates to the US department case against Atlantic drilling fluids, please note that Taleveras and the other two major oil trading houses, 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.”
The statement stressed that the ultimate aim of contracting is to off-take crude oil from asset productions, adding that neither Taleveras nor its associated companies lifted any oil from this production.
It explained that terms of the agreement were breached and hence a legal dispute and appropriate filings made in respected court of jurisdiction, saying that from now, they would refrain from making further comments. [myad]
