shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » House Okays Capital Oil, Folawiyo Jetties

House Okays Capital Oil, Folawiyo Jetties

by Joshua
November 17, 2009
in Uncategorized

The House of Representatives has approved the use of facilities of tow major players in the downstream sector; Capital Oil and Gas and Folawiyo Energy Trading Limited by the Petroleum Products Marking Company (PPMC) for storage of imported petroleum products.
The development comes even as the lawmakers have absolved the PPMC of any wrong doing in the recent artificial fuel scarcity across the country.
Shipping Position Weekly recalls that there were allegations that a clique within the Nigerian National Petroleum Corporation (NNPC) was collecting about N75million illegally daily through importation of petroleum products. Similarly, NNPC’s subsidiary, PPMC was also accused of abandoning the government –owned Atlas Cove jetty for private facilities because of selfish pecuniary gains.

Following the allegations, a committee led by the chairman House of Representatives Committee on Petroleum (Downstream), Hon. Clever Ikisikpo was mandated to look into it.
But after its recent fact-finding visit to the Atlas Cove jetty and the facilities of the two industry players, the committee supported the continued usage of the jetties of both Capital oil and Folawiyo.

However, after an inspection of the Atlas Cove Jetty, Capital Oil and Gas and Yinka Folawiyo, the committee said there was nothing wrong in the decision by the PPMC to choose the companies’ facilities for fuel storage and distribution since the Atlas Cove could only be used for about 50 per cent of the daily consumption.
 An obviously satisfied Ikisikpo said: “We are here on a visit to all these places as a follow up to the invitation, which we had extended to the PPMC in relations to allegation that a cabal in the corporation is making N75 million every day on a fraudulent dealing. The allegation is that the NNPC through PPMC abandoned the Atlas Cove jetty, which is the Federal Government facility and concentrated importation of product on the private facilities owned by Folawiyo, Capital Oil and others. But now we have found out that the allegation is unfounded.

”Actually, we have seen that Atlas Cove is not abandoned, it is working to its full capacity; and we have found that Atlas Cove could only be used for about 50 per cent of the daily consumption and this is why the PPMC is using other private facilities to complement the 30 million litres daily consumption by Nigerians.”

According to him, here is no truth in the allegation of obtaining N75 million daily. It “is without any foundation because Capital Oil and Folawiyo Energy Services only complemented the Cove which storage capacity is apparently inadequate”. “I want to say that from what we have seen, the Atlas Cove is functioning optimally despite the July militants attack on the facility. We have been conducted round the place and I am impressed with what is on ground”,


Related Posts

Auto Draft

Railways Transport 693,224 Passengers On Lagos/Ibadan Standard Gauge

February 2, 2023
SHIPTALK: Basics About A Ship

SHIPTALK: Basics About A Ship

January 27, 2023
NAGAFF Congratulates Newly Promoted Comptrollers, Charges Them On Professionalism

NAGAFF Congratulates Newly Promoted Comptrollers, Charges Them On Professionalism

January 27, 2023
ONE To Acquire Three U.S. West Coast Container Terminals

ONE To Acquire Three U.S. West Coast Container Terminals

December 29, 2022

Discussion about this post

Latest News

2023 Multinational Maritime Exercise Successful, Says CNS

2023 Multinational Maritime Exercise Successful, Says CNS

February 4, 2023

NIMASA DG Seeks Private Sector Participation In Blue Economy

Apongbon Bridge To Reopen May—FG Assures

Customs Seize $6m Fake US Dollars, Arrest 4 Along Seme Border

Customs Officials Targets Of Terrorists And Armed Groups—WCO Sec Gen

Nigerdock Goes Solar, Shifts to Renewable Energy

Sambo Declares Funtua Inland Dry Port As Port Of Origin, Final Destination 

FG Plans Vehicles’ Transit Park, Dry Inland Port For Zamfara — Matawalle

USCG Cutter Makes First Drug Seizure of 2023 in Gulf of Oman

VESSELS EXPECTED AT LAGOS PORTS AS AT 3RD FEBRUARY, 2023

VESSELS EXPECTED AT LAGOS PORTS AS AT 2ND FEBRUARY, 2023

Railways Transport 693,224 Passengers On Lagos/Ibadan Standard Gauge

kindly like our Facebook page

Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says
Health

Unhealthy Environment Causes 12.6m Deaths Worldwide, WHO Says

December 19, 2022

The World Health Organisation has said that the number of people estimated to have died as a result of living...

Health Benefits And Side Effects Of Bitter Leaf

Health Benefits And Side Effects Of Bitter Leaf

December 12, 2022
More Women May Die During Childbirth In West Africa — Report

More Women May Die During Childbirth In West Africa — Report

December 12, 2022
The Many Wonderful Uses Of Onions

The Many Wonderful Uses Of Onions

December 5, 2022
Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

Nigeria Yet To Achieve 70% COVID-19 Immunisation Coverage, Says NPHCDA

December 5, 2022
COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

COVID-19 Cases Increasing, Continue With Preventive Measures — UITH-ARD Warns

December 5, 2022
Panic As Monkeypox Spreads To 32 States, Cases Now 604

Panic As Monkeypox Spreads To 32 States, Cases Now 604

November 28, 2022
Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

Over 1bn Youths Risk Hearing Loss From Headphones, Loud Music — Study

November 28, 2022
Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

Consuming Undercooked Meat May Lead To Tuberculosis — Epidemiologist

November 28, 2022
Infertility Red Flags Men, Women Should Not Ignore – Experts

Infertility Red Flags Men, Women Should Not Ignore – Experts

November 28, 2022

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition