By Henry Ojelu

Taurus Oil & Gas Limited has refuted recent media reports suggesting its involvement in the PMS contamination incident at its Koko storage facility, stressing that independent investigations and ongoing legal proceedings have not established any culpability against the company.

In a statement issued by its legal counsel, Alex Chisom Nwankwo, Taurus noted that its attention had been drawn to certain publications misrepresenting the company’s role in the matter.

“Taurus is presently before the courts seeking justice and the opportunity to fully exonerate its name. Out of respect for the judicial process, we will not delve into the merits of the case at this time,” Nwankwo said.

Highlighting the company’s long-standing reputation, Nwankwo stressed 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, consistently maintaining a reputation for professionalism, transparency, and strict compliance with both national and international operational standards.

It is, therefore,unfortunate that our name has been drawn into a wider controversy involving the diversion of petroleum products, in which Taurus, in fact, played a whistle-blower role,” he explained.

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.

According to him, upon detecting the anomaly, Taurus immediately escalated the matter to NNPC Retail (Product Owners), promptly alerted the regulatory body – the NMDPRA, and commissioned independent inspections by globally recognized agencies.

“We were among the first operators to escalate irregularities we observed to regulators and security agencies, and we have continued to provide intelligence and cooperation that have helped shape ongoing investigations. These facts are in the custody of the authorities,” he said.

He clarified that Taurus was providing storage and handling services under a throughput agreement, emphasizing that under this arrangement, ownership, nomination, and shipping arrangements for the product remained entirely with the client. This structure, according to him, led Taurus with no role in the vessel’s operations or supervision.

He further noted that legal steps have also 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 which remains in effect.

According to him, this demonstrates Taurus’s resolve to seek justice and protect the interests of its clients whose products are entrusted to the facility.

Nwankwo emphasized that regulatory and security authorities had also 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.

Nwankwo further highlighted that since the incident, Taurus has continued its operations without disruption, thereby 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.”