Taurus Oil & Gas Limited has refuted recent media reports suggesting its involvement in the PMS contamination incident at its Koko storage facility.
The company stressed that independent investigations and ongoing legal proceedings have not established any culpability against them.
In a statement issued by their legal counsel, Alex Chisom Nwankwo, Taurus noted that certain publications had misrepresented the company’s role in the matter.
“Taurus is currently before the courts seeking justice and the opportunity to fully exonerate its name. Out of respect for the judicial process, we will not discuss the specifics of the case at this time,” Nwankwo said.
Highlighting the company’s long-standing reputation, Nwankwo emphasised that Taurus has been a key player in Nigeria’s petroleum downstream sector for over 15 years.
“Since our inception, Taurus Oil & Gas Limited has operated as a trusted custodian and throughput service provider within Nigeria’s petroleum downstream sector, maintaining a reputation for professionalism, transparency, and strict compliance with both national and international operational standards.”
Nwankwo explained that the controversy began on January 17, 2024, when a vessel sent by NNPC to deliver PMS to its Koko storage facility discharged ocean water into Taurus’s Tank No. 6 instead of the expected cargo.
Upon detecting the anomaly, Taurus immediately escalated the matter to NNPC Retail (Product Owners), alerted the regulatory body – the NMDPRA – and commissioned independent inspections by globally recognised agencies.
He clarified that Taurus was providing storage and handling services under a throughput agreement, emphasising that ownership, nomination, and shipping arrangements for the product remained entirely with the client. This structure left Taurus with no role in the vessel’s operations or supervision.
Nwankwo further noted that legal steps have been taken to ensure accountability. Following Taurus’s application, the Federal High Court granted an arrest order against the vessel involved in the incident, an order that remains in effect. This demonstrates Taurus’s resolve to seek justice and protect the interests of its clients whose products are entrusted to the facility.
He emphasised that regulatory and security authorities had reviewed the incident and found no evidence linking Taurus to the contamination.
“Investigations by the authorities have not indicated or established any prima facie case against Taurus. In fact, the available evidence consistently points away from our operations and infrastructure, confirming that the anomaly did not originate from Taurus,” he said.
Nwankwo added that Taurus has continued to cooperate fully with the agencies involved and remains confident that the judicial process will further vindicate its position.
Since the incident, Taurus has continued its operations without disruption, maintaining the trust of its clients and partners.
He explained that the company enjoys a strong working relationship with regulatory and oversight bodies, built on years of compliance, transparency, and adherence to both Nigerian and international petroleum handling standards.
“Taurus remains committed to the highest levels of operational excellence. Our continuous engagement with regulators and stakeholders reflects the confidence reposed in our processes and our reputation as a reliable custodian in the downstream petroleum sector.”
