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New pump price: Techno Oil tackles sharp practices

By Sulaimon Salau
03 February 2015   |   11:00 pm
IN compliance with the new pump price of Premium Motor Spirit (PMS) announced by the Federal Government, Techno Oil Limited has commenced swift monitoring its depots and filling stations across the country to checkmate sharp practices in the system.    The oil-marketing firm, confirmed in a statement yesterday that the company has set up a…

IN compliance with the new pump price of Premium Motor Spirit (PMS) announced by the Federal Government, Techno Oil Limited has commenced swift monitoring its depots and filling stations across the country to checkmate sharp practices in the system.

   The oil-marketing firm, confirmed in a statement yesterday that the company has set up a monitoring team to enforce the directive at its facilities in line with its global ethical standards.

   Besides, the company urged the Petroleum Products Price Regulatory Agency (PPRA), to reciprocate positive gestures by paying the outstanding subsidy arrears owing the marketing companies.

    The Head of Strategy of Techno Oil, Ken Abazie, confirmed that the reduction in the pump price of fuel had not affected the services of the company in any manner. 

  He said: All our filling stations complied immediately with the directive of the Federal Government on the reduction of the pump price of fuel.

   “We have also sent out our monitoring team to make sure that none of our outlets engaged in any manner of sharp practice during this period,’’ Abazie stated.

  Abazie re-stated the commitment of Techno Oil to playing by the rules, saying that the company was among the first to comply with the new price directive.

   He said that Techno Oil in line with its vision “to be the future of Energy’’ and a pace-setter in the downstream, had redefined service delivering in the oil and gas business.                                                                                                                                                                   According to him, the policy pursuit of the establishment had recently made the company to clinch ‘’the Most Innovative and Impactful Oil & Gas Company’’ award, given by the Lagos Chamber of Commerce & Industry.

   He added that Techno Oil had through its advocacy platform, ‘’Going Green Revolution’’, partnered with women groups in Oyingbo, Ladipo, Ikorodu and Umuahia markets, to  distribute over 20,000 LPG cylinders.

  “The advocacy is directed at creating a clean, safe and friendly environment and the main thrust of the campaign is to make Nigerians to switch to a healthier source of domestic energy,’’ Abazie added.

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