Following the state-wide tour by the Department of Petroleum Resources (DPR) on Friday, August 21, 2015, where the agency sealed 14 petroleum stations for over-charging and manipulating their dispensing pumps, one of Nigeria’s biggest oil firm, Forte Oil Plc has terminated its contract with some of the affected stations.
The company (formerly known as AP Plc) released a statement yesterday, revealing that its franchise contract with four of the sealed petrol stations has been terminated, Punch reports.
The statement which was signed by the company’s head of corporate communications, Akinleye Olagbende, read: “Forte Oil wishes to inform the public and its stakeholders that it is aware of the article published in The PUNCH on August 22 titled ‘DPR seals NNPC, Forte Oil, 12 other petrol stations’.
“We wish to address the issue of the closure of these stations and state the accurate picture to the buying public and our stakeholders. The stations mentioned in the above-titled article are franchised stations and are not owned by Forte Oil Plc.”
“We at Forte Oil have a robust compliance system ensuring that all stations branded under our name comply with all the regulations applicable to the downstream petroleum sector. This is codified in all our franchise agreements and non-compliance with these terms are penalised with instant termination of the said agreement.”
Forte Oil has developed a reputation for pump integrity and ensuring that the price displayed at their stations are compliant with the approved regulated price.
Last month, DPR had vowed to sanction depot owners and major marketers who sell petrol and kerosene above the official price.
The agency also used the opportunity to reiterate its directive to all depots, marketers and operators to abide by the official pricing regime to avoid sanctions.
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