17 November 2012

Nigeria: Capital Oil - Our Shut Down Will Worsen Fuel Supply Problem

The management of Capital Oil and Gas has said that it's immediate shut down of operations as directed by a Federal High Court sitting in Abuja will definitely affect supply of petroleum products around the country.

The company in its response to an ex-parte order for the temporary forfeiture of its assets around the country which was granted by Justice A. Abdu-Kafarati of the Federal High Court sitting in Abuja said that the situation will add to complicate ongoing challenges in product supplies around the country.

It said in a statement Friday that Nigerians will be worse for its predicament on view of its strategic importance to product distribution in the country.

According to the statement made available to THISDAY in Abuja: "We woke up this morning 16/11/2012, to the surprising news that Honourable Justice A. Abdu-Kafarati of the Federal High Court sitting in Abuja had granted an ex-parte order for the temporary forfeiture order of our assets, especially our Tank Farms and Jetties.

In the light of the order, the jetties and depots of Capital Oil and Gas Industries Limited located at Apapa have been shut down with immediate effect. With effect from today Friday November 16, 2012 discharge and loading of petroleum products from the facility is temporarily suspended."

It noted that the action was taken with regard to the court order, adding that it was not guilty of allegations against it.

"This is to ensure that the order of the court is not in any way violated. We empathize with the long-suffering masses of Nigeria who have been experiencing long queues in filling stations, non-availability of petroleum products as well as high cost of transportation.

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