A criminal oil company illegally sold 137,629 barrels of Bonny Light crude in June 2020 from OML 55 through the black market, pocketed the proceeds after reporting to the Nigerian National Petroleum Corporation, NNPC, that they had no production.

Belema Oil owned by Tien Jack-Rich defrauded Nigeria of over N2.1billion in the month of June 2020 alone from the illegal sale of the Bonny light Crude which sold at N41.80 per barrel as of June 2020.

The approval limit granted BelemaOil by the NNPC is 10,000 barrels per day but in the month of June, the company told NNPC it recorded no production when its records showed that four of the oil fields that make up OML 55, indeed produced thousands of Bonny Light Crude.

Pointblanknews.com investigations reveal that Jack Rich, a notorious oil fraud who has been promised the 2023 Presidential ticket, shipped Bonny Light crude produced from his OML 55 through unmarked vessels in the coastal depot belt of the Niger Delta of Nigeria to countries in Europe.The proceeds according to sources, are shared with Babagana Kingibe, the Sultan of Sokoto, Mohammadu Sa’ad Abubakar, Ibrahim Gambari, the Chief of Staff to President Mohammadu Buhari, and other influential members of the Cabal who have promised to ensure he gets the All Progressive Congress, APC, Presidential ticket ahead of the 2023 elections.Jack Rich is obsessed with becoming the President of Nigeria in 2023 and has lobbied everyone close to President Mohammadu Buhari. He recently built a Mother and Child Hospital in Daura, Buhari’s own town in Katsina State, North West Nigeria.

Sources confirmed that as of the last count, Jack Rich has made over $70million in cash from illegal sales of Bonny Light Crude through the black market.

Pointblanknews.com gathered that in the event he is not paid cash at the point of delivery of the illegally sold crude, jack Rich provides account information of proxies who are paid by the buyers.

“He has been doing that for a long time since the dispute surrounding the OML55 was resolved. In the month of June alone, he told NNPC that there was no production when in actual fact OML 55 produced thousands of barrels,” a source told Pointblanknews.com

Documents from Belema Oil obtained by Pointblanknews.com shows that the Quantity of crude produced in the month of June is as follows: 5th June 2020, 5,571 barrels net, 7th June 2020, 5,767 barrels net, 9,189 barrels net 8th June 2020, 9th June 2020 9,745 barrels net, 10th June 2020, 9,946 barrels net, 11th June 2020, 9,862 barrels net.

Other are 12th June 2020 9,970 barrels net, 13th June 2020 9,745 barrels net, 14thJune 2020 6,192 barrels net, 15th June 2020 6,691 barrels net   16th June 2020   5,914 barrels net, 17th June 2020, 6,030 barrels net, 18th June 2020 5,934 barrels net, 19th June 2020, 9,948 barrels net.

And 20th June 2020, 8,184 barrels net, 21st June 2020 9,490 barrels net, 22nd June 2020, 22nd June 2020, 9,471 barrels net, totaling 137,629 barrels of bonny light crude oil stolen only in June, sources in knowledgeable with his schemes told Pointblanknews.com that he does that every month.

OML 55 current producing Fields are Robertkiri, Idama, Jokka, Inda, and Belema North. It has an estimated hydrocarbon reserve of circa 350 mmboe. It was previously operated by NNPC/Chevron Joint Venture (JV) but handed over to Belemaoil Producing Limited, in a joint partnership with NNPC in February 2015.

OML 55 is about 40km west of Bonney Terminal and located in the mangrove swamp to shallow water offshore in the south-eastern part of the Niger Delta and covers an area of 852km² approximately.Pointblanknews.com is in possession of financial records of Jack Rich and Belemaoil and would release details of findings, how funds were being laundered, and the details of vessels used for the illegal sales of crudes in coming days.

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