NNPC To Recoverr N11bn Missing Petrol From Capital Oil

The Nigerian National Petroleum Corporation (NNPC) on Friday announced measures to achieve full recovery of over 130 million litres of premium motor spirit (PMS) worth N11 billion from Capital Oil & Gas Limited.

The product stored in the facilities of two indigenous downstream operators, MRS Limited and Capital Oil & Gas Limited, under a throughput arrangement to ensure a robust strategic reserve.

Providing details of the act by the companies, Henry Ikem-Obih, NNPC chief operating officer, downstream, told journalists in Abuja that the infraction was discovered earlier in the year when the corporation had need to access the over 100 million litres of petrol stored at the Capital Oil & Gas depot for NNPC Retail and just over 30 million litres in MRS Limited depot all in Apapa area of Lagos.

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