NNPC revokes Licences of three oil marketers

                         

The Nigeria National Petroleum Corporation,NNPC On Tuesday moved against three oil Marketers,revoking their Licences  for various Offences from hoarding to diversion of Products.the marketers Involved are Funo Alfa,Organiser West Africa,and Rich Oil Company will have their Licences revoked immediately,according to the Pipeline and Product Marketing Company a subsidiary of NNPC


The Group General Manager,Group Public Affairs Division NNPC,Ohi Alegbe,said the sanction which take immediate effect has cost the companies their Product lifting Licences to serve as deterants to other who intend to sabotage government uninterrupted  supply of fuel to the Public.

He warn all oil Marketers to desist from oil diversion, hoarding and other illegal practices.
“The NNPC is closely monitoring the petroleum products market to ensure that those who are not ready to do the business genuinely and lawfully are identified and weeded out,” Mr. Alegbe said. “We must warn that withdrawal of fuel lifting licenses of erring marketers is a continuous exercise.

“Henceforth any oil marketer found to be involved in products diversion will have its Bulk Purchase Agreement with the Pipeline and Products Marketing Company revoked.”

Alegbe said that despite the huge lifting of petroleum product from PPMC depot by Major and independent Marketers,there has been sharp shortage of products in some part of the country trigger by massive diversion and hoarding by marketers.
adding that the warning to marketers to stop this is aim at stopping long queue at Fuel Stations.