BREAKING NEWS, Energy Briefs
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THE Pipeline and Products Marketing Company, PPMC, has revoked the lifting license (Bulk Purchase Agreement) of three independent marketers for engaging in products diversion and sundry infractions. The affected marketers are Funo Alfa, Organizer West Africa, and Rich Oil. The sanction is with immediate effect.
The PPMC also warned marketers to desist from products diversion, hoarding, and any other form of sharp practices as it would not hesitate to wield the big stick against any marketer found wanting. It added that it was closely monitoring the market and that the withdrawal of lifting licenses of erring marketers was a continuous exercise.
A statement signed by Ohi Alegbe, group general manger, Group Public Affairs Division of the Nigerian National Petroleum Corporation, NNPC, on Tuesday, July 21, and made available to Realnews, also warned petroleum product marketers against diversion of petroleum products.
The statement said that the NNPC in order to sanitise the fuel distribution and supply system and eliminate the queues at filling stations across some cities in Nigeria, would henceforth revoke the bulk purchase agreement defaulters had with its midstream subsidiary, the PPMC.
The warning was issued in the face of persistent tightness of supply being experienced in the country despite huge load-outs from PPMC depots by both major and independent marketers, a situation that has been traced to diversion.
— Jul 21, 2015 @ 18:10 GMT
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