shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Oando Flags-off 210,000 Tonnes Terminal Project

Oando Flags-off 210,000 Tonnes Terminal Project

by Joshua
April 19, 2009
in Uncategorized

One of Nigeria’s  leading players in the down stream sector of the oil and gas industry, Oando PLC has commenced work on the construction of a refined petroleum products import terminal, at the Lekki Free Trade Zone (LFTZ) in Lagos State.
The expansive terminal is expected to be completed by the third quarter of 2009, whilst the entire project is expected to be commissioned in the first quarter of 2012.
According to a statement issued in Lagos by the company and made available to Shipping Position Weekly, the 210,000 metric tonne capacity terminal is fashioned out to be the best-in-class and the largest purpose built product terminal in sub-Saharan Africa dispatching over 500 trucks per day in what is set to revolutionise petroleum products distribution in Nigeria.  
Apparently exited by the prospects of the project, the Chief Executive Officer of Oando Refinery and Terminals Mr. Ayo Ajose-Adeogun, remarked that “it will have a direct impact on the downstream sector as it will radically reduce the traffic to Apapa port, which was originally built to handle only 10% of Nigeria ’s energy import requirement as against the 90% it does today. It will also increase Major Marketers’ throughput by bridging the huge supply gap.
“The Lekki Terminal Project will have a Single Point Mooring (SPM) facility located about 7km offshore, which will support the berthing of 80,000 deadweight tonnage (dwt) vessels for the first time in West Africa, thereby significantly providing unprecedented cost efficiencies,” he added.
Also speaking in the same vein, the Group Chief Executive, Oando PLC  Mr. Wale Tinubu, added that the “project will be the benchmark for product reception terminals in sub-Saharan Africa that will once again attest to our superior execution capabilities. We project strong early cash flow that will provide immediate shareholder value and the financial platform for the development of our ultra-modern refinery in the same location.”


Related Posts

ECOWAS Electricity Agency Assures Of Stable, Affordable Power Across W/Africa From 2023

FG Urges Entrepreneurs To Embrace ECOWAS Trade Scheme

May 19, 2023
Nigeria Targets Over $500 Million From Cashew Export

Weekly Global Marine Incidents May 8, 2023

May 8, 2023
Stock Exchange Closes Week With 24 Gainers 27 Losers

Stock Exchange Closes Week With 24 Gainers 27 Losers

May 1, 2023
Investors Buyout Norwegian Car Carriers from Klaveness

Investors Buyout Norwegian Car Carriers from Klaveness

May 1, 2023

Discussion about this post

Latest News

AfCFTA: Kenya To Scrap Visa Fees For Africa Traders

AfCFTA: Kenya To Scrap Visa Fees For Africa Traders

June 1, 2023

Customs Initiates New Fast Track Method For Compliant Importers

NEITI Hails Fuel Subsidy Removal, Offers 8 Strategic Considerations

Officer of the Order of the Niger: For Hassan Bello, It’s A Honour Well Deserved

ANLCA Chieftain Urges Tinubu To Review Import Duty, Levy on Tokunbo Vehicles

FG Must Recognise Freight Forwarding Profession –  Dr Farinto

Nigeria’s Porous Border Makes Case for Customs Modernization Project

FG Eyes $4bn From Abuja, Kano Airports Concession

Container Shipping Still Poised For Profitability In 2023

Vessels Expected at Lagos Ports as at 30th May, 2023

Nigeria Stock Exchange Closes Week With 42 Gainers 12 Losers

Rate Hike: Expect Higher Prices, MAN, NECA Warn CBN

kindly like our Facebook page

Health

FG To Place 80% Hypertensive Nigerians On Standard Treatment
Health

FG To Place 80% Hypertensive Nigerians On Standard Treatment

May 22, 2023

The Federal Government said it has instituted strategic interventions at the Tertiary, Secondary, and Primary Health Care levels to screen...

High Blood Pressure Explained

High Blood Pressure Explained

May 22, 2023
Some Impressive Health Benefits Of Onions That May Interest You

Some Impressive Health Benefits Of Onions That May Interest You

May 22, 2023
Failed IVF Cycles Not End Of Parenthood Journey

Failed IVF Cycles Not End Of Parenthood Journey

May 15, 2023
COVID-19: Fifth Wave Looms As Nigeria Records Three Deaths In One Week

COVID-19: Nigeria Embarks On Integrated Health Emergency

May 15, 2023
Some Health Benefits Of Eating Groundnuts (Peanuts)

Some Health Benefits Of Eating Groundnuts (Peanuts)

May 15, 2023
BEWARE: Too Much Sex Is Bad For You!

DANGER: Why Sudden Death Happens During Sex – Expert

May 8, 2023
Five Early Warning Signs Of Pancreatic Cancer That Could Save A Life

Five Early Warning Signs Of Pancreatic Cancer That Could Save A Life

May 8, 2023
All You Need To Know About Snoring

All You Need To Know About Snoring

May 1, 2023
Salt: Why You Need It, How Much Is Too Much, and How to Cut Back

Salt: Why You Need It, How Much Is Too Much, and How to Cut Back

May 1, 2023

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition