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Monday, May 25, 2015

Sunday, May 24, 2015

Ifeanyi Ubah's Capital Oil To Commence Loading Of Fuel Despite Directives From Oil Marketers

Managing Director and CEO of Capital
Oil held a press release today to
announce the resumption of loading of
PMS at his jetty despite a collective
sabotage by oil transporters to stop
loading, which is the current cause of
the unprecedented fuel scarcity the
nation is experiencing.
Read his press release after the cut:
Good day Ladies and Gentlemen
of the press!
On Saturday 16th May 2015, we
received an SMS ordering the
suspension of loading activities in
all depots from Monday 18th May
2015. We later realized that this
directive was as a result of
unpaid funds owed to transporters
by oil marketers who in turn are
owed by the Federal Government.
This development has resulted in
immense hardship to our fellow
country men and women. We
believe that a better solution can
be pursued towards solving this
problem in a way that does not
adversely affect our dear citizens.
Capital Oil and Gas has watched
with so much pain, the suffering
and hardship our citizens have
been subjected to as a result of
scarcity of petrol, diesel, aviation
fuel and house hold kerosene. We
are deeply pained to hear that
hospitals cannot perform
surgeries, laboratories are unable
to carry out much needed tests
especially for emergency patients
leaving such patients at risk of
dying, radio stations are shutting
down, communication is being
affected as MTN and other
telecommunications company
have announced an impending
shut down while homes, offices
and key facilities nationwide are
experiencing blackouts. In some
parts of the country, petrol is
already selling at an all-time high
of N1,000 per litre. Our citizens
have left their homes and are now
sleeping in fuel stations, facing
the risk of robbery attacks and
other attendant risk.
In a few days' time, a new
government headed by General
Muhamadu Buhari will be sworn
in. Apart from our citizens being
unable to watch the handover on
television and unavailability of
transportation for attendees of
this historic handover, the
resulting chaos from this scarcity
may shutdown the Nation and
sabotage the efforts Nigeria has
made to attain greater heights.
We are constrained at this point
and have decided that two wrongs
cannot make a right. We will not
be part of this sabotage against
our fatherland. Therefore from
this minute, we shall take the risk
of opening our facilities and
commence swift loading and
distribution of products
Nationwide.
Our facility has the capacity to
load over 13 million litres of
product before dawn. This comes
to approximately 400 trucks of
petroleum products. With this act,
it is our belief that once again
our citizens will begin to smile,
return to normal family and work
life. We call on other petroleum
marketers to follow suit and save
our Nation from this impending
economic and social crisis. This is
a period that requires patriotism
and service to fatherland. Let's
join hands to help our fellow
citizens and save Nigeria. We also
call on striking bodies to call off
the strike action. Let us work
together for the betterment of our
people.
As we brief you this moment, our
truck park, port reception facilities
and our depot complex have been
ordered opened. We are ordering
and resuming discharge of
products from vessels at our
berths. We have ordered our
trucks to commence loading of
products and move overnight to
every state of the Federation.
Most importantly, we wish to use
this medium to thank NNPC and
PPMC for their steadfastness in
ensuring the availability of
petroleum products. Current
PPMC stock level in our storage
tanks and buffer stock on vessels
awaiting discharge at our jetty is
capable of meeting the Nation's
need for 15 days.
Furthermore, we wish to emphasis
that we have a total solution to
the traffic menace on the oshodi
apapa expressway. In the coming
weeks, we hope to engage the
Federal Government (Federal
Ministry of Transport), Lagos
State Government and other
stakeholders in the affected area,
to optimally utilize our truck park
facilities which has the capacity
to accommodate over 1,100
trucks per time and 5,000 on a
shift basis.
Capital Oil and Gas continues to
appeal to Nigerians to accept and
support deregulation as this will
curb corruption, enhance
competition, lead to reduction of
pump price for petroleum
products and ensure constant
supply to meet Nigeria's demand.
Long live the Federal Republic of
Nigeria.
Dr. Patrick Ifeanyi Ubah
Managing Director/CEO
Capital Oil and Gas Industries
Limited
Lagos, Sunday 24th May 2015.

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Ifeanyi Ubah's Capital Oil To Commence Loading Of Fuel Despite Directives From Oil Marketers

Managing Director and CEO of Capital
Oil held a press release today to
announce the resumption of loading of
PMS at his jetty despite a collective
sabotage by oil transporters to stop
loading, which is the current cause of
the unprecedented fuel scarcity the
nation is experiencing.
Read his press release after the cut:
Good day Ladies and Gentlemen
of the press!
On Saturday 16th May 2015, we
received an SMS ordering the
suspension of loading activities in
all depots from Monday 18th May
2015. We later realized that this
directive was as a result of
unpaid funds owed to transporters
by oil marketers who in turn are
owed by the Federal Government.
This development has resulted in
immense hardship to our fellow
country men and women. We
believe that a better solution can
be pursued towards solving this
problem in a way that does not
adversely affect our dear citizens.
Capital Oil and Gas has watched
with so much pain, the suffering
and hardship our citizens have
been subjected to as a result of
scarcity of petrol, diesel, aviation
fuel and house hold kerosene. We
are deeply pained to hear that
hospitals cannot perform
surgeries, laboratories are unable
to carry out much needed tests
especially for emergency patients
leaving such patients at risk of
dying, radio stations are shutting
down, communication is being
affected as MTN and other
telecommunications company
have announced an impending
shut down while homes, offices
and key facilities nationwide are
experiencing blackouts. In some
parts of the country, petrol is
already selling at an all-time high
of N1,000 per litre. Our citizens
have left their homes and are now
sleeping in fuel stations, facing
the risk of robbery attacks and
other attendant risk.
In a few days' time, a new
government headed by General
Muhamadu Buhari will be sworn
in. Apart from our citizens being
unable to watch the handover on
television and unavailability of
transportation for attendees of
this historic handover, the
resulting chaos from this scarcity
may shutdown the Nation and
sabotage the efforts Nigeria has
made to attain greater heights.
We are constrained at this point
and have decided that two wrongs
cannot make a right. We will not
be part of this sabotage against
our fatherland. Therefore from
this minute, we shall take the risk
of opening our facilities and
commence swift loading and
distribution of products
Nationwide.
Our facility has the capacity to
load over 13 million litres of
product before dawn. This comes
to approximately 400 trucks of
petroleum products. With this act,
it is our belief that once again
our citizens will begin to smile,
return to normal family and work
life. We call on other petroleum
marketers to follow suit and save
our Nation from this impending
economic and social crisis. This is
a period that requires patriotism
and service to fatherland. Let's
join hands to help our fellow
citizens and save Nigeria. We also
call on striking bodies to call off
the strike action. Let us work
together for the betterment of our
people.
As we brief you this moment, our
truck park, port reception facilities
and our depot complex have been
ordered opened. We are ordering
and resuming discharge of
products from vessels at our
berths. We have ordered our
trucks to commence loading of
products and move overnight to
every state of the Federation.
Most importantly, we wish to use
this medium to thank NNPC and
PPMC for their steadfastness in
ensuring the availability of
petroleum products. Current
PPMC stock level in our storage
tanks and buffer stock on vessels
awaiting discharge at our jetty is
capable of meeting the Nation's
need for 15 days.
Furthermore, we wish to emphasis
that we have a total solution to
the traffic menace on the oshodi
apapa expressway. In the coming
weeks, we hope to engage the
Federal Government (Federal
Ministry of Transport), Lagos
State Government and other
stakeholders in the affected area,
to optimally utilize our truck park
facilities which has the capacity
to accommodate over 1,100
trucks per time and 5,000 on a
shift basis.
Capital Oil and Gas continues to
appeal to Nigerians to accept and
support deregulation as this will
curb corruption, enhance
competition, lead to reduction of
pump price for petroleum
products and ensure constant
supply to meet Nigeria's demand.
Long live the Federal Republic of
Nigeria.
Dr. Patrick Ifeanyi Ubah
Managing Director/CEO
Capital Oil and Gas Industries
Limited
Lagos, Sunday 24th May 2015.

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