[ad_1]
Top Story has provided AKBN Technical Audits to Bankers Petrolium since 2011-2016. Despite the known losses, Bankers has committed extraordinary breaches including costs for hydrocarbon operations, costs of millions of dollars that are not related to the activities under the contract.
In December 2014, AKBN submits the Initial Audit Report for 2011. The report states that 299 million of the $ 384 million costs were non-recoverable. In March 2015, Bankers challenged the report. In July 2015, AKBN signed the final audit report for 2011, stating that 51 million out of 299 million dollars claimed as non-recoverable costs, are justified, but the remaining 248 million are not justified.
In September 2015, the General Directorate of Taxes submits a fiscal assessment to Bankers based on the AKBN report. Taxes require $ 56 million in profit tax and $ 4 million in fines. Bankers dismisses the claim and appeals to the Arbitral Tribunal. In January 2016 Bankers agreed with the government to pay the obligation in installments on the condition that the matter be considered by a panel of experts.
According to the audit at the time, Bankers claimed that during 2011, it was forced to use 50 percent more diluent than expected while the price of the diluent increased from $ 88 to $ 134 per barrel. Diluent is a light hydrocarbon, which serves to dilute the heavy oil produced in the Patos Marinza basin to facilitate transportation.
The total diluent cost increased from $ 30.7 million to $ 45.4 million. AKBN initially refused to accept as recoverable costs the additional amount spent of $ 14.7 million, arguing that the use of excessive diluent was unjustified and also the price increase was unforeseen in the budget.
Bankers are suspected of enabling the importer to import in excess quantities unnecessarily by justifying its use for oil extraction, but it is assumed that in fact, part of the additional diluent was sold on the market as diesel for vehicles. This means at several times the price because when the diluent is imported for oil operations, it is stripped of taxes, when it is sold as vehicle fuel in the market, seven taxes are imposed on it.
Another absurdity is that most of the companies that work with Bankers have unusual profit rates, which reach 30-70 percent above the income and that these profits are realized continuously. Most of these companies operate registered in tax havens, as do Bankers themselves. Independent experts entitle Bankers and AKBN sends the company to arbitration in 2016.
top channel
[ad_2]
Source link