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MOL Pakistan wants full inquiry into crude oil theft case.

ISLAMABAD -- This refers to the stories published in different sections of the media about crude oil theft from Tal block, MOL Pakistan rejects any insinuation or allegation that it is involved in this heinous crime in any way.

We take strong exception to the statements made in National Assembly Standing Committee on Petroleum by Federal Investigation Agency and a few honorable members where MOL Pakistan was implicated.

It is reiterated here that MOL Pakistan time and again has expressed its commitment to offer every possible assistance to the relevant authorities to investigate the matter and is open to any investigation within the bounds of law. We have faced multiple inquiries on this issue and have provided assistance to the law enforcement machinery in investigating the issue to its logical conclusion. We again insist that no past inquiry had implicated Pakistan as a company and any aspersion to that effect is malicious.

Secondly, it is very alarming that to generate media headlines the value of the crude oil theft from Tal block is being dubbed as mega theft. This is highly regrettable that on such a respected forum Standing Committee of the National Assembly, individuals can get away with presenting wrong facts and figures.

It is also highly irresponsible to quote a preliminary investigation report as allegedly presented by the Director FIA, as such a report has no legal basis. It is interesting to note that the Director FIA has himself admitted that he has yet to receive technical input from relevant ministries and departments. In the absence of technical input the report seems to be just based on hearsay.

We will also like to clarify that we attend the proceedings of the National Assembly Standing Committee only when required by the Ministry of Petroleum and Natural Resource, the relevant authority that regulates our agreement with the government of Pakistan.

MOL Pakistan has been operating in Pakistan since 1999 and is now one of the leading foreign oil producers in the country. It has shown its commitment to E and P sector of Pakistan at a time when other foreign investors in sectors have left the country. MOL Pakistan has invested heavily with its joint venture partners into developing TAL block and also has introduced significant technological innovations.

MOL Pakistan believes that baseless allegations and aspersions sully the foreign investment climate in the country and in the interest of fair investigation all stakeholders should desist from such allegations.

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Publication:Frontier Post (Peshawar, Pakistan)
Geographic Code:9PAKI
Date:Sep 2, 2016
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