Nigeria oil giant, Capital Oil, has said that the company would not tolerate the activities of oil marketers under the aegis of Independent Petroleum Marketers Association of Nigeria, IPMAN, who engage in sharp practices to bring the hard-earned reputation of the company down.
In a statement in Abuja yesterday from its media office, the company said it would not be blackmailed and dragged into the politics and crisis rocking IPMAN, whilst reiterating its commitment to promoting good ethics and conduct in dispensing petroleum products in the country.
“We refuse to be dragged into the IPMAN leadership crisis because we hold our customers in high esteem and run one of the best petroleum terminals in the country with the highest ethical standard and professionalism.
“What happened is that we noticed sharp practices by oil marketers on our facility who sell loaded products or loading tickets at unapproved prices. We have therefore come out with measures to curb the unpatriotic acts. The modus operandi adopted to stop these nefarious activities is what we call ‘No Change of Number.’
“By this measure, we load products to marketers that present trucks that are the exact approved ones listed on the loading tickets,” the statement reads in part.
The statement further said that report making the rounds that Capital Oil gets funds from Petroleum Equalisation Fund, PEF, is not true.
“We are standing tall in the industry because of our standards and we have never gotten funds from PEF in the last five years. IPMAN has leadership problems. I have never interfered in the running of IPMAN and their leadership crisis of over nine years. Abdul Kadir is from Yola and he got into that office based on the peace we initiated four years ago. Why are there crisis now after he left office? It is an issue of ethics and standards. We don’t want to be dragged into IPMAN issues.
“We are the only facility that loads products daily from NNPC and others. We won’t condone the use of black marketers to spoil the reputation of our facility. No product of IPMAN is stored in our depots. We have been serving everybody; nobody can force us to load IPMAN.
“Leadership crisis is what is causing the problem of IPMAN but they are creating the impression that they are fighting for the organisation.
“Capital Oil is the only facility that is saving Nigerians in this era of fuel scarcity and they like loading with us. The name and value of the company is more than making money but we will never compromise,” the statement said.

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