PPMC says it received $205m from Duke Oil

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The Petroleum Products Marketing Company (PPMC) received a total of $205,203,891.09 from Duke Oil for products traded between January 2016 and September 2017, Daily Trust reports.

PPMC Managing Director, Mr. Umar Ajiya, said this to the House of Representatives ad hoc committee investigating alleged revenue leakages in the oil and gas sector for the period under review. He said, specifically, the products traded within the period were fuel oil (low pour fuel oil) and naphtha.

Duke Oil, a wholly owned international subsidiary of the Nigerian National Petroleum Corporation (NNPC), before now, was said to not be operating as it should – as an international trading company. The chairman of the committee, Rep. Jarigbe Agom Jarigbe, requested for more documents to support the presentation to the committee.