Tag Archives: PPMC

Reps Probe Oil Firms Over N500bn Debt To PPMC

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The House of Representatives yesterday commenced the probe of Oando Oil and Total Oil over N500 billion debts the two companies and many others owe the Petroleum Products Marketing Company (PPMC).

The probe also covers companies such as Forte Oil, Conoil, Mobil Oil, Masters Energy Oil and Gas Limited, MRS Oil and Gas, Heyden Petroleum, Rahamaniyya Petroleum, Amicable Petroleum, Aiteo Petroleum, Honeywell Oil, Capital Oil, Felande Petroleum, Sharon Oil and Zamson Petroleum among others.

Inaugurating the ad-hoc panel on the probe in Abuja, Speaker Yakubu Dogara said the committee was expected to make findings that would lead to plugging loopholes in existing laws and practices in the downstream sector of the Nigerian economy.

“We expect that in no distant future, the committee will be inviting some companies and individuals to provide answers to questions as to what happened to the downstream sector. We hope that this committee will conduct its affairs in a serious and corrupt-free manner as the house will not tolerate any evidence of undue influence or improper conduct,” the speaker said.

Chairman of the panel, Abdullahi Gaya (APC, Kano) said “The economy in the present time calls for our concerted efforts to move it forward in the right direction. In numerous ways, members of the present National Assembly have carefully thought out solutions to this challenge and have risen to the occasion.”

Credit: dailytrust

PPMC Floods Abuja With 186,000 Liters Of Fuel

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As a way of rescue to the current fuel scarcity in the country, the management of Pipelines and Product Marketing Company, PPMC, in line with the honourable minister of state for petroleum, Dr. Ibe Kachikwu’s effort to provide an effective intervention, has flooded Abuja with 31 high capacity truck loads of PMS- each with approximately 60,000 litres- just as another 25 is expected tomorrow. The 31 intervention trucks that have arrived the city of Abuja have been deployed to areas of need. This became possible following the partnership between NNPC Retail and Capital Oil and Gas. In addition, 150 trucks have been provided by A. A. Rano, Azman, and Rahamaniyya. According to the MD, PPMC Mrs. Esther Nnamdi-Ogbue, these interventionist efforts will continue until the queues dissipate. Furthermore, despite not being a regulator, PPMC has made an extra effort to curb the effect of the fuel crisis on the general public by deploying staff to petrol stations across Abuja for round-the-clock monitoring. It is believed that with these measures, normalcy will return to Abuja and its environs in no time. Motorists are therefore advised for the umpteenth time not to engage in panic buying as this will encourage the activities of hoarders.

Credit: vanguardngr

?PPMC Adopts Measures To End Fuel Scarcity

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Mrs Esther Nnamdi-Ogbue, the Managing Director, Petroleum Products Marketing Company (PPMC) said measures were being taken to ensure end to fuel scarcity across the country.
Nnamdi- Ogbue made this known while addressing newsmen on Thursday in Abuja.

“Right now, we have about eight vessels coming in, each of which ranges between 30,000 to 40,000 metric tonnes capacity, and these should be more than enough to ensure sufficiency.
” On Wednesday alone, over one thousand trucks were loaded and trucked out by the majors marketers and PPMC, ” she said.

According to her, about 400 intervention trucks are being used to service marketers.
This, she said, was to ensure fuel supply in their filling stations, especially in Abuja and Lagos, where they consume about 60 per cent of daily national consumption figures.
Nnamdi-ogbue further noted that there were people trucking out fuel from Port Harcourt, Warri, Ogarra, Calabar as alternative sources for Lagos.
She assured that all efforts were being made to ensure that by weekend, all these problems of scarcity would be a thing of the past.
“We share in the pains of all motorists, all Nigerians,” she said.
Nnamdi-Ogbue said efforts were being intensified to break the strong hold of corruption and all those engaged in sharp practices.
“Right now, more than 300 trucks should be arriving Abuja and we are tracking them to ensure that they duly arrive here.
“We have our staff all over, monitoring to make sure that the volumes brought in are actually discharged,” she said.
She noted that in most of the major or strategic stations, products were sold twenty-four hours, adding that this will help to bring about normalcy in the system.

 

(NAN)

PPMC Says Fuel Will Soon Be Available

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The Pipelines and Products Marketing Company has asked the Nigerian populace to calm down as petroleum products will be available in the fuel stations soon.

The MD of PPMC, Esther Nnamdi-Ogbue said that about four vessels containing 30,000 tonnes of PMS arrived in the country on Sunday and the agency is doing all it can to ensure that the product is distributed efficiently.

Queues returned to the fuel stations in the last week and many motorists have been complaining about the seeming worsening situation in fuel supply.

Credit: ChannelsTv

No Document On Crude Oil Swap– PPMC

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Members of the House of Representatives Ad-Hoc Committee probing Refined Product Exchange Agreement/Crude Oil Swap were shocked at yesterday’s hearing when the newly appointed managing director of Petroleum Products Marketing Company (PPMC), Esther Nnamdi-Ogbue, told them that there was no document to show that there were other processes taken other than presidential and ministerial directives regarding lifting of oil in the oil swap deals between Duke Oil and Trafigura.

“We don’t know under what circumstances it (the contracts) was done as all of us are new; most of the dealings were done before our appointment.

“Before us, a lot of things happened; we met a lot of things as inconclusive, and this has led us into reconciliations which are still ongoing.

“We discovered that some contractual agreements were not favourable to PPMC, which was why we went into the reconciliations. I don’t want to jump into conclusions, but I should be clear that oil swap is practised globally,” she said.

When the committee asked if due process was followed in the selection of trading companies involved in the deals, the Petroleum Resources Ministry’s team said records at its disposal showed that the arrangement was carried out through presidential approvals.

The committee requested to see the presidential approval in question and the PPMC eventually presented one, but this was rejected by the committee on the ground that it was a wrong approval: it was an Offshore Processing Agreement (OPA) and not an oil swap agreement.

Credit: Leadership

PPMC To Prosecute Pipeline Vandals, Commence Truck Tracking

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The Managing Director of the Pipeline and Products Marketing Company (PPMC), Mrs Esther Nnamdi-Ogbue, has warned that any oil pipeline vandal caught, will be prosecuted with their assets destroyed to serve as deterrence.

Mrs Nnamdi-Ogbue, who spoke to reporters when some pipeline vandals were apprehended on Christmas day, said that the pipelines are the only effective way to distribute petroleum products nationwide and must be allowed to function.

The Minister of State for Petroleum, Ibe Kachikwu, said that Nigeria cannot give in to the point where vandals and saboteurs become more powerful than the government.

“Oil pipelines in Nigeria serve two purposes: to distribute crude oil to the country’s three refineries for processing and to distribute refined petroleum products across the country for easy supply to consumers.

“Frequent pipeline vandalism has made these two functions ineffective for several years,” he said.

Credit: ChannelsTV

NNPC Reform: All PPMC Depot Managers Recalled To Abuja

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Area Managers of all petroleum products depots across the country have been recalled to the headquarters by the Pipelines and Products Marketing Company (PPMC) management.

PPMC is the Nigerian National Petroleum Corporation, NNPC subsidiary in charge of marketing and distribution of petroleum products in the country.

In their stead, Chief Officers considered lower in rank to the recalled managers in the hierarchy of the national oil company have since been directed to take over the depots.

NNPC’s Group General Manager, Group Public Affairs Department, Ohi Alegbe, confirmed the directive to the Area Managers, pointing out that it was part of the on-going reorganization process in NNPC.

“Yes, the Area Managers were asked to return,” Mr. Alegbe said. “There is nothing unusual about it other than that is part of the on-going process by the management to unbundle the NNPC and its subsidiaries and make the organization function better.”

The new directive by the NNPC is seen as an attempt by the new administration to downgrade the position, which has hitherto been headed by personnel of deputy managers’ status.

Credit: PremiumTimes