The Chamber of Bulk Oil Distributors has urged caution following recent developments involving the Office of the Special Prosecutor’s investigations in the petroleum sector.
In a statement, the Chamber — which represents Bulk Oil Distributors (BDCs), Petroleum Terminals, Refineries, and Oil Marketing Companies (OMCs) — clarified that matters relating to petroleum taxes, currently under public discussion, are generally incidental to OMC operations and not those of Refineries, Petroleum Terminals, or BDCs.
“Given the preliminary nature of these issues, we underscore the importance of measured and restrained public commentary to safeguard the reputation and operations of the companies involved,” the statement said.
The Chamber noted that these companies maintain extensive trading and financial relationships locally and internationally. Any reputational impact at this stage, it warned, could have far-reaching consequences, particularly if subsequent investigations clarify that the entities acted appropriately.
The Chamber called on all members and Petroleum Service Providers (PSPs) under investigation to cooperate fully with the Office of the Special Prosecutor.
“We urge all stakeholders and the public to allow due process to take its course and to avoid premature conclusions that could have unintended consequences for businesses and the broader industry,” the Chamber stated.
It reiterated its commitment to upholding integrity and transparency in the downstream petroleum sector.
“We stand ready to assist the Office of the Special Prosecutor and other law enforcement agencies in their investigations and in enhancing understanding of industry operations.”
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