Uncategorized

MRS OIL BOARD CLEARS AIR ON ALLEGED NNPC DEBT

Published

8 years ago

March 30, 2017

Dshowjournalist@gmail.com

MRS never expropriated NNPC products.

MRS, one of the leading oil and gas companies in Nigeria, has responded to a media report suggesting that products throughput by NNPC in their terminal was expropriated. According to the press release,
“Our attention has been drawn to the recent publications both in the print, electronic and social media alleging that products throughput by NNPC in our terminal was expropriated. While we ordinarily would not comment on issues like this, it is pertinent for us to respond as this borders on our integrity. Those claims are false, malicious and unfounded, it is clearly a misrepresentation of the workings and processes of the downstream operations. It is unfortunate that the national oil firm has chosen to repeatedly distort facts and malign the integrity of our company.

For the sake of clarity, MRS is not a storage company, rather it is a throughput company. It is important at this point to explain in lay man terms, what throughput means. Throughput is akin to a banking arrangement. In a throughput contract, we act as a product bank to different customers who we throughput products for, but because of the operational process involved in replenishing stock, we have 7 days from when we receive the demand to provide the products if we have stock out. This act of storing the products in a comingled state (where products belonging to various customers are mixed) and loaded out on demand is called throughput and is usually for a 30-day period.
Setting the record straight
To set the record straight, we entered into a throughput agreement with NNPC Retail on 30^th November, 2016. In line with standard industry practice, the terms of the agreements stipulated that products would be stored in our tanks comingled with products belonging to us and any other client of ours and would be delivered to NNPC or any of its designates within 7 days of demand.
In line with this agreement, NNPC Retail (a subsidiary of NNPC) brought a vessel named MT Undine with (40,637,355Liters) 29,000mts which berth at our terminal on the 8^th of December 2016 and 19 days after vessel discharge, no one from NNPC had shown up in our office to request to load out the products. We were constrained to send an email to NNPC demanding that they come and load out their products because we had other vessels waiting to berth and were incurring demurrage.

On the 30^th of December 2016, nearly a month after the vessel discharged in our facility, NNPC officials, bowing to our pressure, finally appeared to familiarize themselves with our loading procedure. Between the 30^th of December 2016 and 14^th of February 2017, NNPC only managed to load out 10,616,685 liters which was an average of 8 Trucks per day, as against our daily load out of 300 trucks. We continued to demand that they come and load their products to free up our storage tanks.

On the 4^th of February, 2017, we received an email from NNPC Retail, saying they had loaned their products to PPMC and as such we should load their remaining products to PPMC. It is important to point out here, that PPMC (another subsidiary of NNPC) also throughput products with us and were loading within the same period. Between the 4^th of February when we received the email from NNPC Retail and 15^th of February, PPMC loaded 11,178,000 liters.

At this point we had 2 vessels, Mt Lilac Victoria with 60,000mts and Mt STI Milwakee with 20,000mts of PMS. The vessel Mt Sti Milwakee was a PPMC vessel carrying our 20,000mts of PMS. This vessel berth at MRS terminal on the 17^th of February to discharge her full cargo. Immediately after she berth, PPMC asked that the vessel be pulled out, without regards to the fact that all statutory payments in respect of this cargo had been made. All efforts to get PPMC to allow the vessel to discharge was refused and PPMC insisted that vessel be pulled out. This singular action took 3 days, as all required approvals had to be gotten from the relevant authorities to allow a vessel to sail with full products on board. Notwithstanding the delay, the next vessel with 30,000mts berth the same day the PPMC vessel was pulled out and commenced discharge immediately. 24hrs after discharge commenced, we had filled up a tank and started loading out of that tank. Both PPMC and NNPC retail were therefore loaded within 6 days from when we stocked out and this is well within the contractually allowable period of 7days. This clearly shows that contrary to the claim by NNPC, MRS never expropriated NNPC products.

We would like to state here, as an established fact that MRS is the only company in Nigeria today that has the capacity to load out 15 Million liters per day. It is also on record that our operations are 24hrs a day Monday through Saturday, and in some cases Sunday to ensure that the country remains wet at all times. In all of these, if NNPC Retail had presented trucks for loading when their product came in, we could have loaded them within a week. It was their failure to present trucks for loading that led to the 3 months’ period it took to load out their products.

As at today, NNPC has completed loading their products and have exceeded with over 3 Million liters of MRS products. We would have demanded this excess; however, we know that these deficits and surplus products hold is usual in the throughput process.

We have taken pains to provide these details in the hope our explanation will put this matter to rest for good and the public and media are now fully informed of the facts relating to the NNPC products throughput with us.

Uncategorized

Elated Polaris Bank Customer commends Bank for excellent customer service

Published

1 year ago

December 2, 2023

D'SHOW

Polaris Bank customer, Ife Michael, who recently aired her concerns on X (formerly Twitter) on a school fees transaction, has commended the Bank for resolving her Complaint swiftly as promised.

Ife Michael tweeting via her X handle @V_Ifemichael had called out the Bank for ‘seizing’ her funds as sent from a UK University where she had sought admission.

Polaris Bank reacted promptly to her Complaint and engaged her to explain the process and promised to resolve the issue which the Bank did swiftly.

An apparently elated Ife Michael went back to the micro blogging site to recount her experience with an update on her earlier thread of how the Bank swiftly resolved her Complainant.

The Bank, according to her update “responded and reached out to explain in details the guidelines underpinning FX transaction as it relates in particular to International payment.

In her tweet, Ife Michael expressed gratitude to Polaris Bank’s swift action and transparent communication. According to her, the Bank clarified that the situation was complex but assured her that the funds would be promptly refunded to the school. And Polaris Bank did exactly as it promised as it promptly refunded the money to Roehampton University and initiated necessary processes to streamline the refund.

The engagement began when Polaris Bank’s headquarters made the first contact at 11:48 am, and by 3:41 pm on the same day, Ife Michael confirmed that the Bank had successfully refunded the funds and

fulfilled all required procedures. The Bank also took the extra step of writing to the school to facilitate the process.

This positive outcome highlights Polaris Bank’s commitment to customer satisfaction, responsive and excellent customer service, and adherence to regulatory policies. The incident not only showcases effective conflict resolution but also underscores the power of a Bank fostering transparent communication between it and her customers.

Sports

Cristiano Ronaldo wants to leave Manchester United

Published

2 years ago

July 28, 2022

D'SHOW

Cristiano Ronaldo and his agent Jorge Mendes held meetings with United at Carrington on Tuesday, but his position remains unchanged and he wants to play for a club in the Champions League and win major trophies. United do not want him to go, however, and Ronaldo has started training with the team having missed the club’s pre-season tour of Thailand and Australia due to family reasons.

His potential options elsewhere are limited. Chelsea are not an option anymore, while Bayern Munich and Atletico Madrid appeared to publicly rule themselves out this week. “As we’ve seen on Instagram, Ronaldo has been keeping fit, so there are no concerns from Manchester United over his fitness or physical level; he’s one of the fittest players in world football.

“Ultimately, The Portuguese forward did state his desire to leave Old Trafford, but he’s running out of options, and it seems like he’s actually going to have to stay. Perhaps he will try and swing it where the 25 per cent pay cut in his contract will be waived away by United, perhaps he wants to manoeuvre and muscle a new deal, we’ll have to wait and see. But it doesn’t look like Stamford Bridge is on his cards.

“Chelsea have distanced themselves from a deal for Ronaldo, as have Bayern Munich, Napoli and a lot of other elite clubs that Jorge Mendes, who is Ronaldo’s agent, has tried to sell him to. “An offer from Saudi Arabia is astronomical but ultimately, it does not give Cristiano Ronaldo what he wants, which is that legacy. He wants to achieve Champions League records that he thinks no one else will be able to attain in the future.

“He wants to sign off at the absolute highest level. Now, it looks increasingly like he will have to stay at Manchester United because there are no biters from the big clubs.

“Everyone has their forwards already, and Chelsea, who are the only club looking like they could actually potentially be spun by what Cristiano Ronaldo offers off the pitch because we were told that Mendes, while being in front of these clubs, was putting forward his numbers in terms of social media influence, sponsorship that he rakes in, the commercial gain of his shirt sales and stuff like that. But even they now say he is not in their plans. Their immediate aim is to strengthen the defence.

“So, that leaves Ronaldo really with not many choices. We know that he does want to be competing at the highest level so if he does go to Saudi Arabia that cuts against everything he has said and everything we actually know about him and his career.

“Manchester United have always been very calm and very comfortable. They have insisted he is not for sale, and he will see out the last year of his contract. How they manoeuvre this now going forward we’ll see, but Ronaldo is keeping fit, so they have no issues or problems or fears over what state he’ll report back to pre-season in.”

CONVOCATION: GRACE NATION BIBLE INSTITUTE GRADUATES 120 STUDENTS

Published

3 years ago

April 4, 2022

D'SHOW

-you must remain a good Ambassador of Christ- Chris Okafor

No fewer than 120 certified Trained Prophetic students of Grace Nation Bible Institute graduated today after they have gone through rigorous prophetic training by the best Teachers Supervised by the anointed servant of God Dr. Chris Okafor. The student was presented with their certificates at the special convocation ceremony held at the International Headquarters of Grace Nation(GBI) in Ojodu Berger Lagos Nigeria. According to the Rector of the institute, they satisfy all requirements and conditions to be awarded a diploma certificate in various fields of Prophetic and Bibles knowledge.

In his words of Encouragement, the President of Grace Nation Bible Institute, Dr. Chris Okafor remarks that he has no doubt in his mind that all the students are well-trained judging by the level and capacity of all the resource Personality who lecture them, train and retraining them to face any challenges that come there ways,
The Apostle of altars also challenged them to be a good ambassador of the school to the outside world through soul-winning to the kingdom of God.

The Generational Prophet of God also remarked that as you have all learned, you must put the name of a school in good repute and always ready to work for the Lord at any time

Some of the course covered in the 8weeks program includes Evangelism and soul-winning, spiritual development and Human Management to mention but few

The highlight of the convocation was the Presentation of Certificates to all the students, according to the Rector all the students perform excellently well

Earlier in his sermon, the Senior Pastor Grace Nation and the Generational prophet of God Dr. Chris Okafor teach on the series, ”The Covenant Day of Settlement” said settlement comes when you fulfill all the Principles of Settlement,
the man of God said nothing come free but when you applied the principles and follow it diligently you will easily get a settlement on all side

The realm of the Prophetic witnessed another higher dimension of Prophetic movement and deliverance through the Set Man, the Generational Prophet of God Dr. Chris Okafor, He visited many family altars and set many captives free, he also delivered people with blood-line diseases while delivering miracle babies to expectant mothers

The service came to a close with a special Prayer for the Set Man, the Generational Prophet of God Dr. Chris Okafor who will be making another birthday tomorrow, 4 April 2022.