The Department of Petroleum Resources (DPR) in Akwa Ibom says that two private depots have begun sales of petroleum product in the state.
DPR Controller of Operation, Bassey Nkanga announced this in a chat with newsmen in Eket Local Government Area of the state .
Nkanga said that the depots were Slock Petroleum Tank Farm and Fresh Synergy Petroleum, located at Ikot Abasi Local Government Area..
“We have two active private depots and six other depots are in process,” Nkanga said.
He said the private depots had DPK and AGO currently being sold, adding that the owners of the depots were working hard to bring PMS to the state.
“I can tell the public that the new private depots have products already and they are selling but they have not brought PMS yet to the state.
“As we talk, the depots have stock of DPK and AGO and they are selling to the marketers,” he said.
He said that the existence of the private depots would alleviate the suffering of the people of the state.
Nkanga added that it would also reduce the cost of transporting petroleum products and also stabilise the price in the state.
“The new private depots will help marketers in particular because most of our marketers pay transport from Calabar to Akwa Ibom at the cost of N4 per litre of product.
“If they lift products from Akwa Ibom, that will reduce high cost of transportation drastically and their profit margin will now increase,’’ he said.
He said the storage capacity of fuel at Slock Petroleum depot was 24 million litres.