Expdonaloaded News; Capital Oil bans fraudulent marketers

A major player in oil and gas industry, Capital Oil and Gas, last week, moved against some oil marketers whom they assessed as fraudulent.
A directive by the company banned the affected firms from lifting petroleum products from its terminals until they comply with the directive to deliver products at designated locations and sell at government approved and regulated prices.

Announcing the ban on Friday, the management, in a statement signed by the director media, Barrister Afam Ilounor, lamented the unpatriotic and unwholesome activities of some petroleum marketers that load petroleum products at its terminal and resell the allocated product at exorbitant prices above the stipulated prices set by government.
The management further noted that it was saddened by the report in the media that these products are oftentimes diverted to locations other than those approved by the authorities, warning those indulging in such habit that it would no longer be business as usual.
“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.post by expdonaloaded.blogspot.com...
“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 noted.
Commenting further on the issue, the major player in oil and gas, added: “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, shutdown 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 government agencies to ensure products loaded from our terminal are discharged at designated filling stations nationwide in line with directives given at stakeholders’ meetings held with government agencies.”