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OIL & GAS

Ifeanyi Ubah’s Capital Oil Wants to Curb Illicit Acts by Oil Marketers

Managing Director of Capital Oil and Gas, Mr Ifeanyi Ubah, has said the company is implementing measures to rein in the illicit practices by oil marketers.

Ubah, who made this known while addressing newsmen in Abuja on Tuesday, said that the company had adopted the “no change of number” measure to curb what he described as “unpatriotic acts” by the marketers.

” We recently noticed some sharp practices by oil marketers who use our facility as an avenue for selling loaded products or loading tickets at unapproved prices. We have therefore come out with measures to curb the unpatriotic acts.  The modus operandi adopted to stop these unwholesome practices is what we call no change of number.”

He said that the measure would ensure that only marketers that presented approved trucks listed on the loading tickets would be loaded with products.

He said the abuse of the policy by allowing change of truck number made it easy for some marketers to engage in illicit acts.

According to him, the marketers collect loading tickets from NNPC with a particular number, come to the terminal with a different truck which is not indicated on the loading tickets.

” We have resorted not to load products for any marketer with such loading ticket.”

Commenting on allegation of not dispensing to Independent Petroleum Marketers of Nigeria (IPMAN), he said that capital oil and gas should not be dragged into leadership crisis.

Ubah said the company held its customers in high esteem and would continue to maintain best practices as one of the major petroleum terminals in the country.

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