Fidelity bank banner UBA banner
Nigeria hosts Sub-Saharan Africa’s largest tank farm

By News Express on 07/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 985

•Petrolex Chairman/CEO Segun Adebutu
•Petrolex Chairman/CEO Segun Adebutu

 Petrolex Oil & Gas Limited, Africa’s emerging indigenous energy giant, is set to launch its ultra-modern tank farm facility on 12, December 2017, at Ibefun, Ogun State, as part of Petrolex Mega Oil City, planned to revolutionise the Nigerian oil and gas landscape.

A first of its kind in sub-Saharan Africa, the 300 million-litre tank farm will be commissioned by Vice President Prof. Yemi Osinbajo, GCON. It has the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently, for better services and higher turnover.

The facility is expected to create over 10,000 new direct and indirect jobs, improve throughput capacity for distribution of petroleum products by over 500% whilst Petrolex’s extensive social investment programme is expected to impact over two million lives and maintain a very healthy balance with the environment.

Equipped with state-of-the-art technology, the facility is set to decongest Apapa and Ibafo tanker traffic by 60% thereby eliminating hazards associated with storage and transportation of petroleum products in those areas.

“As a solutions-driven company, we are positioned to drive increased efficiency and consistent value creation across the West African downstream oil and gas value chain through our strategic investments and the delivery of superior quality products and services.  Working with our diverse stakeholders, the successful completion of the first phase of our mega oil city in Ibefun, Ogun State, Nigeria demonstrates our disciplined approach to project management and signposts  our ability to execute large-scale energy development projects that will move the region forward,” said Segun Adebutu, Chairman/CEO of Petrolex Oil and Gas Limited.

To facilitate the achievement of its strategic goals, Petrolex has 16 barges, 8 tugboats and a 30KT vessel. In addition, Petrolex Mega Oil City has a residential quarters, army barracks, 30 loading gantries, gas processing plant, and a 4000-truck capacity park with accommodation for drivers.

The tank farm is highly accessible through land and waterways; with easy access from the Atlantic Ocean. Its proximity to the Lagos market, and easy accessibility to the Northern and Eastern parts of Nigeria gives it a strategic advantage, as customers can load their products in unprecedented time and avoid delays which characterise the industry.

A Price Waterhouse Coopers audit put the value of the tank farm at over $330 million even as Petrolex continues to commit its energy towards the strategic pillars for sustainable development: people, energy management, environment, product stewardship, occupational health and safety, and social institution building.

Source News Express

Posted 07/12/2017 8:55:22 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Panic in Maiduguri as soldiers test run equipment...

From Hajj to jail: 1,000 Nigerian women send...

Heads to roll as panel submits report on...

NASU, SSANU UniAbuja begin one-week warning strike

N1.2bn land compensation: Taraba communities demand probe of...

Rebrand or die whinning, APC tells PDP

NEMA registers 3,000 deportees at Cameroon border

Bad weather: Ethiopian Airline unable to land in...

Pharmacists Council seal off 234 illegal patent medicine...

WE’LL DELIVER —Obiano assures as he receives INEC’s...

Niger Governor calls for synergy among security agencies...

FG accelerates plan to generate electricity from nuclear...

 

Latest News Obi not on Twitter — Aide •Dismisses purported ‘lifeless’ tweet 2019 election: Group to mobilise 10 million votes for Atiku Fayose: Sacked DSS boss Daura lobbied me twice to support Buhari Fire for fire as Atiku, Buhari spokespersons attack each other 2019: Southeast solidly behind the choice of Peter Obi as Atiku’s running mate — Ohanaeze youths How Gov. Okowa is advancing democratic dividend through enterprise development in Delta Kachikwu conniving with PDP to kill APC in Delta — Group writes Buhari Why I attended OBJ-Atiku reconciliation meeting — Fr. Kukah Ex-minister, 4 others reappear in court over alleged N229m money laundering 13 dead as flooding hits southwestern France Nigerian Content Development and Monitoring Board partners Dangote Refinery on local content implementation Lagos records 6.6 million voters

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,432 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,143 views) Shameless Genevieve Nnaji exposes breasts in public (314,507 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (256,416 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,213 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,192 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (203,937 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,421 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (169,961 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,801 views) Lagos plane crash: Journalist releases victims’ names (161,361 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,189 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,680) Business Verdict (52) Columnists (945) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,530) Interview (165) Live Commentary (28) Love Matters (145) News (39,617) Opinion (1,122) Pidgin (13) Politics (7,222) Religion (880) Sports (1,730) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Fulham vs Arsenal 1-5 All Goals & Extended Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement