He said Capital Oil has admitted to diverting 84.89 million litres of petroleum products belonging to NNPC without the corporation’s approval adding that there was no basis to question the creditworthiness of the company.
Browsing: Capital Oil and Gas Limited
20 June 2017, Sweetcrude, Lagos – The Department of State Services, DSS, has released the managing director of Capital Oil…
“NUPENG believes that the job creation mantra of the government should be allowed to play, rather than paving way for job losses as it is the case of the current closure of Capital Oil.”
Opuiyo said the arrest was sequel to Ubah’s engagement in acts of economic sabotage, which included stealing, diversion and illegal sale of petroleum products stored in his tank farm by the Nigerian National Petroleum Corporation, NNPC.
“It is instructive that NNPC did not do anything on the case until the matter was raised on the floor of the Senate and the press picked the matter up from the motion. The unauthorised sale of 132 million litres of fuel kept in the storage tanks of MRS and Capital Oil designated as strategic reserves is a grave occurrence. This probably is not the first time it is happening and NNPC must review its operations. It should in fact carry out a shake up in the PPMC,” Abdullahi stated.
Kafarati also restrained AMCON from exercising any powers over Capital Oil and Gas Limited and its assets.
31 July 2015, Abuja – Based on its accusation of fraudulent practices against Capital Oil and Gas, the Independent Petroleum…