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Adulterated Fuel: Ownership Of Duke Oil, That Imported Fuel Remains A Mystery .
- Who owns duke oil that allegedly imported contaminated fuel
As fuel scarcity bits harder and commuters stranded in different bus stations, Nigerians are asking and requesting the full disclosure of the owners of Duke Oil, Eko Hot Blog learned.
Duke Oil is alleged to be responsible for the importation of the contaminated Premium Motor Spirits,PMS, in the country.
According to information, Duke Oil is said to be a subsidiary of Nigeria National Petroleum Corporation, NNPC.
By regulation, Eko Hot Blog gathered that it acts as the government agency’s trading arm, which makes the firm the only importer of PMS into Nigeria.
The company was established about 32 years ago during the administration of General Ibrahim Babangida, with a registered designation of Sociedad Anonima, which means Anonymous Society.
Read Also: Fuel Scarcity: NNPC Subsidiary, Duke Oil Imported Contaminated Petrol – MRS Oil
Sociedad Anonima implies that shareholders of Duke Oil are largely unknown or secret, and its registered base is Panama, a central American country known for providing safe haven to money launderers.
However, Eko Hot Blog has been reliably told that MRS Oil Nigeria Plc has accused Panama-based Duke Oil for the imported adulterated fuel.
MRS Oil Nigeria Plc was earlier speculated as the importer of the bad PMS.
In its reaction, MRS denied importing the substandard PMS, stating that importation of fuel into Nigeria was solely the responsibility of Duke Oil on behalf of NNPC, and the contaminated fuel was distributed to various retailing companies, it said on Wednesday.
This development has raised eyebrows as to why a government agency such as NNPC is running a sole trading arm that is operating out of a money laundering country with secret shareholders.
Meanwhile, credible sources have dislosed that the adulterated fuel was allegedly bought by Duke Oil from international trader, Litasco, and it has 20% methanol, an illegal substance in Nigeria, after it was delivered with Motor Tanker (MT) Nord Gainer.
Following delivery into tank, it was observed that the product appeared hazy and dark. The product analysis revealed that the PMS discharged by MT Nord Ganier had 20% methanol, which is an illegal substance in Nigeria.
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