Taurus Oil & Gas Limited has denied reports linking it to the PMS contamination incident at its Koko storage facility.
In a statement issued by its legal counsel, Alex Chisom Nwankwo, Taurus said its attention had been drawn to publications misrepresenting its 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 stated.
Highlighting the company’s track record, he noted that Taurus has been a major player in Nigeria’s downstream petroleum 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.
According to Nwankwo, the controversy began on January 17, 2024, when a vessel sent by NNPC to deliver PMS to the Koko facility discharged ocean water into Taurus’s Tank No. 6 instead of the expected cargo.
He said that once the anomaly was detected, Taurus immediately escalated the matter to NNPC Retail (the product owners), alerted the Nigerian Midstream and Downstream Petroleum Regulatory Authority (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 added.
Nwankwo clarified that Taurus was only providing storage and handling services under a throughput agreement. Under such arrangements, he explained, ownership, nomination, and shipping of the product remain entirely with the client, leaving Taurus with no role in the vessel’s operations or supervision.
He further disclosed that legal steps had been taken to ensure accountability. Following an application by Taurus, the Federal High Court granted an arrest order against the vessel involved, which remains in effect. According to him, this demonstrates Taurus’s determination to seek justice and protect the interests of its clients.
Nwankwo stressed that regulatory and security authorities had reviewed the incident and found no evidence implicating the company.
“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.
He noted that Taurus has continued to cooperate fully with agencies handling the matter and expressed confidence that the judicial process would further vindicate the company.
He also emphasized that Taurus has sustained its operations without disruption since the incident, maintaining the trust of its clients and partners.
According to him, the company enjoys a strong working relationship with regulatory and oversight bodies, built on years of compliance, transparency, and adherence to 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,” Nwankwo concluded.
