Pinnacle Oil & Gas Limited has unveiled new procurement standards for its vendors as part of efforts to improve operational efficiency, transparency, compliance and service delivery across its value chain.
In a statement, the downstream oil and gas company disclosed this at a forum which brought together more than 100 existing and prospective vendors as well as other stakeholders.
The forum reportedly provided vendors with guidance on the company’s procurement processes, onboarding and prequalification requirements, Know-Your-Customer procedures, tax invoicing, payment processes, contractual obligations, technical specifications and contractor responsibilities.
The sessions also covered supplier performance expectations, service level agreements and improvements to Pinnacle’s purchase order process designed to enhance efficiency and transparency.
Speaking at the event,
Executive Officer, Adenike Labinjo, described vendors as strategic partners whose commitment to quality, safety, innovation and compliance directly impacted Pinnacle’s ability to deliver value to customers and stakeholders.
She said the expansion of the company’s operations made it increasingly important for Pinnacle and its vendors to operate with a common understanding of expectations, responsibilities and performance standards.
Labinjo stressed that safety, regulatory compliance and ethical business practices remained non-negotiable across all vendor engagements.
The forum also featured presentations from senior leaders across procurement, engineering, compliance, finance, legal, HSE, and sales/marketing departments, who provided practical guidance on the company’s requirements.
A question-and-answer session allowed vendors to engage directly with Pinnacle’s leadership on procurement procedures, compliance expectations, project execution, HSE requirements and opportunities for continuous improvement.
Speaking on the significance of the forum, the Head of Procurement & Administration, Oluseyi Ogunfowora, said the initiative reflected Pinnacle’s commitment to building stronger partnerships through transparency, collaboration and shared accountability.
She explained that procurement served as the coordinating function that brought together the requirements of engineering, operations, marine, compliance, legal, finance, HSE and other business units to ensure a fair, efficient and transparent procurement process.
Ogunfowora urged vendors to submit complete and compliant documentation, communicate proactively and seek clarification whenever necessary, noting that strong partnerships were built on trust, clear communication and a shared commitment to operational excellence.
SOURCE: PUNCH NEWS PAPER
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