Save Austin Fair Yudala 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

Views: 235

•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


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
PDP picks Ali Modu Sheriff as National Chairman...

Nigeria battle Malawi, DRC, Rwanda, Kenya and Gabon...

Today’s Weather: Expect plenty clouds, isolated thunderstorms: NiMET...

Why we stormed Enugu radio station –Biafra Zionist...

Atiku’s defection: JUDAS LEAVES PDP

Court proscribes IPOB

Anambra APC crisis latest: Annie Okonkwo explodes, says...

PDP ‘DEAD IN SIN’ —Oshiomhole

Buhari to sign Paris Agreement on Climate Change...

ICPC arrests lawyer for allegedly defrauding FG of...

Suicide bombers hit Northern Cameroon

NiMET forecasts dust haze today across Nigeria

 

Latest News Police, DSS swoop on sellers of Naira notes, nab 13 Court declares Okonkwo Senator for Anambra Central, orders swearing-in Nigeria still investors’ destination, declares IMF CSOs, NGOs reject Bill for establishment of NGO regulatory commission Falana demands immediate dropping of controversial NGO Bill 400 beneficiaries of Okowa’s skill acquisition programmes exhibit products in Asaba Lagos Govt vows to enforce traffic law •Restricts shuttle services to barracks, higher institutions APC seeks investigation into brutalisation of Enugu Perm Sec Sani-Bello flags off Niger State rural roads maintenance programme Nigeria places high premium on labour matters — Udoma PDP reconciliation: Dickson visits Dokpesi, says party’s mandate should be grabbing power in 2019 Weatherman foresees likelihood of isolated showers/thundery activities over Lagos, Port Harcourt, Yenagoa, Calabar and Warri

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (301,124 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (285,982 views) Shameless Genevieve Nnaji exposes breasts in public (230,627 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,571 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,526 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (170,285 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,274 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,618 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,670 views) Lagos plane crash: Journalist releases victims’ names (119,135 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,567 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (112,264 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,820) Business Verdict (28) Columnists (777) Complaints & Requests (94) Enterprise & Opportunities (195) Entertainment (420) Features (523) Global Business Monitor (194) International (1,690) Interviews (138) Live Commentary (28) Love Matters (92) News (31,000) Opinion (845) Pidgin (9) Politics (4,214) Religion (654) Sports (1,381) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!