A Review of the Nigerian Energy Industry

DPR seals MRS, OBAT, ASCON depots

12 October 2012, Sweetcrude, LAGOS – NIGERIA’s oil industry regulator, the Department of Petroleum Resources, DPR, has sealed the depots of MRS Oil and Gas, Obat Petroleum and Ascon Nigeria Limited for allegedly selling fuel above the regulated ex-depot prices.

It is a fulfilment of an earlier threat by the agency to the effect that it will seal off the facilities of any company, taking advantage of the fuel shortage in the country to cheat marketers.

“Sequel to our recent Annual General Meeting, AGM, held with Depot Operators/Marketers, during which the Department warned that appropriate sanctions would be meted out to enforce compliance for violations, including the sale of petrol, PMS, above approved prices, we have commenced the sealing of identified depots,” DPR said in a statement, Thursday, in Lagos.

It stated that “the PMS delivery arms of the under listed depots were today (Thursday) sealed indefinitely by the Department: MRS Oil and Gas Ltd, Obat Petroleum Ltd and Ascon Nig Ltd.”

The statement, signed by the agency’s Deputy Director, Public Affairs, Mrs. Belema Osibodu, said: “This action was based on credible information received on the depots, which confirmed that they were selling PMS above approved prices.”

The industry regulator did not, however, disclose how much the three depots were selling, but the approved ex-depot prices posted on the official website of the Petroleum Products Pricing Regulatory Agency,

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