Business
PPMC Revokes Bulk Purchase Pact With Three Marketers
Pipelines and Product
Marketing Company (PPMC) has revoked the bulk purchase agreements of three petroleum marketers caught diverting petroleum products out of the country, an official has said.
Manager, Public Affairs and Community Relations of PPMC, Mr Nasir Imodagbe, made the disclosure in an interview with newsmen in Lagos on Tuesday.
Imodagbe named the marketers as Funo Alfa Ltd, Organiser West Africa Ltd and Rich Oil Ltd.
He said that the marketers’ actions violated the bulk purchase agreement with PPMC.
According to him, “the revocation is part of the corporation’s effort in sanitising the industry by checkmating marketers diverting products meant for domestic consumption.
“This will also reduce frequent petroleum hoarding and diversion by marketers.
“The process is continuous and we are going to ensure adequate monitoring of marketers.”
Nigerian National Petroleum Corporation (NNPC) had on July 19 banned 113 oil tankers from entering Nigerian oil facilities and territorial waters.
The corporation in a statement signed by Gbenga Komolafe, the Group General Manager Crude Oil Marketing Division, prohibited tankers “from engaging in crude oil and gas loading activities in any of the terminals within the Nigerian territorial waters until further notice.”
The company made the announcement in a letter dated July 15 and addressed to terminal operators in Nigeria.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime4 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime4 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime4 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime4 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime4 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics4 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports4 days ago
Bournemouth, Newcastle Share Points
-
Sports4 days ago
Zidane’s Son Switches Allegiance To Algeria