Three petroleum marketing companies will no longer be engaged in the bulk purchase of products in Nigeria. The Pipelines and Product Marketing Company has revoked their licenses.
The companies, Funo Alfa Ltd, Organiser West Africa Ltd and Rich Oil Ltd were allegedly caught diverting petroleum products out of the country.
PPMC’s Public Affairs and Community Relations Manager, Nasir Imodagbe told the News Agency of Nigeria that the marketers’ actions violate the operational agreement they have with the PPMC. He stressed that PPMC is out to check acts of diverting products meant for local consumption by some marketers.
“The process is continuous and we are going to ensure adequate monitoring of marketers.’’ PPMC said
NNPC had on the 19th of July banned 113 oil tankers from entering oil facilities in the country and operating around Nigeria’s territorial waters.