Capital Oil bans fraudulent marketers

Oil refinery

ABUJA – Capital Oil and Gas Industries limited, a major player in the Nigerian oil industry has bared his fangs on some fraudulent marketers, banning them from lifting petroleum products from its terminals pending compliance with the directive to deliver products at designated locations and sell at government approved and regulated prices only.

 

In a statement issued late on Friday, by Director of Publicity, Afam Ilouno, the management lamented the unpatriotic and fraudulent activities of some petroleum marketers who load petroleum products at its terminal only to resell the allocated product at exorbitant prices far above the stipulated prices set by government.

 

Capital Oil further noted that it was angry over reports in the media that these products are often diverted to locations other than those approved by relevant authorities, warning that there will be no more for such under-hand business. “It has come to our notice the unpatriotic activities of some petroleum marketers who load petroleum products at our terminal and resell the allocated product at exorbitant prices far above the stipulated prices set by government.

 

These products are often times diverted to locations other than those approved by relevant authorities. “Unscrupulous practices such as these ultimately affect the citizens of our country as products are sold at some locations above the fixed price of N87/litre for Premium Motor Spirit (PMS). Since Capital Oil & Gas distributes a high percentage of petroleum products consumed daily nationwide, the general perception held by some filling station operators and end users may be that we are short changing Nigerians.

 

“Our company is committed to making petroleum products available to Nigerians at the prices stipulated by the relevant government agencies and have indeed played a vital role in ensuring constant availability of petroleum products nationwide,” the management added.

 

Further more, Capital Oil who defied the last strike by oil marketers to flood tge market then recalled that they were antagonized for tgat act noting: “In recent times, we have received hard knocks from some of our colleagues in the industry especially when we defied the last strike that almost crippled economic activities nationwide.

 

An ugly situation that made banks announce early closures, shut down of services rendered by telecommunication companies, difficulty in road transportation and flight cancellations as well as inability of hospitals, hotels, government offices etc to function due to non-availability of petroleum products to power their generators and vehicles. “We are fully aware that our current actions will generate lots of threats, intimidation and blackmail from various quarters especially those involved in these activities. But we shall not be deterred. 

 

“Capital Oil & Gas is determined to join hands with the relevant government agencies to ensure that products loaded from our terminal are discharged at designated filling stations nationwide in line with directives given at various stakeholders’ meetings held with relevant government agencies. “Going forward, only marketers that are willing to comply with the directive to deliver petroleum product loaded for designated locations or filling stations and sold at the stipulated prices will be allowed to load from our terminal,” the management posited.