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Oil Tankers Avoid Nigeria On Backdated Tax Bills

OIL

At least two oil tanker owners are staying away from Nigeria after several companies received backdated tax bills according to a member notice by industry group Intertanko seen by Bloomberg.

  • Multiple businesses received demands from Nigeria’s Federal Inland Revenue Service to cover the 2010-2019 period. Notices range in amounts from $400,000 to $1.1 million per vessel.
  • Tankers from at least two shipowners are staying clear of Nigerians ports to avoid the risk of having their ships arrested.
  • Tanker earnings from West Africa to Europe jumped 27% on Tuesday, marking the biggest daily increase in a month according to Baltic Exchange data.

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