Petrocam Halts Plan To Build Refinery

Petrocam Trading Nigeria Limited has announced the suspension of its plan to build a refinery in the country.

The Managing Director, Petrocam Trading Nigeria Limited, Mr Patrick Ilo, said the lack of full deregulation in the downstream sector was hampering investments.

The company was reported to have said last year that it was looking to set up a 400,000 barrels per day refinery in the country.

Ilo stated this during the inauguration of the company’s new solar-powered fuel station located at Abule Ado, Badagry Expressway, Lagos.

He said the number of the company’s retail outlets had increased to 11.

According to a statement, the new station has five metric tonnes gas skid and 11 underground tanks with 45,000 litres capacity each and 10 tanks for Premium Motor Spirit and one tank for Automated Gas Oil.

The Administration and Sales Manager, Petrocam Trading Nigeria, Eyo Oghogho, said, “At Petrocam outlets, we ensure that a litre is a litre. Another thing is that when you come to Petrocam filling station, you are sure you will get your PMS, diesel and gas. You don’t need to go somewhere else to get your gas.

“Talking about the gas, we have a digital scale system whereby you are sure of what you are buying. If you have a 12.5kg cylinder, you don’t really need to buy a 12.5kg gas. You could buy 5kg into it because the scale is digitalised and you could see what you are buying.”

Oghogho said the company would expand its operations to other parts of the country in coming months.

“All our outlets for now are based in Lagos. We are intending to extend our frontiers to other state capitals in the next couple of months and from there, we will start expanding to other locations in Nigeria,” she added.