Nigerian oil tank facility to be completed in 2013

9 August 2012

Nigerian company Pinnacle Oil and Gas Limited (POGL) has announced that the construction of a 400,000 metric tonne tanker farm will be completed in 2013.

The project, which is funded in conjunction with China Petroleum Technology and Development Corporation (CPTDC), will increase the efficiency of tankers shipping oil to the Lekki Free Trade Zone.

This will make it possible to import and export products and service the entire West African market, according to This Day newspaper.

The facility is noted for using improved mooring facilities which will allow tankers of all sizes to discharge products without congestion as a consequence.

Chief executive officer of Pinnacle Peter Mbah said: "The mooring facilities will enable petroleum cargo vessels of various capacities to anchor and discharge products with minimal vessel congestion."

Mr Mbah also noted that local traders across Nigeria would benefit from a lower landing cost of products, as well as the third party tank farms in the Lekki Free Trade Zone.

Category: Energy