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FOLAWIYO, MRS TOP LIST ON PETROL STORAGE - INVESTIGATION

By NBF News
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By KUNLE KALEJAYE
Folawiyo Energy Ltd and MRS Oil and Gas Limited are among the top premium motor spirit, PMS or petrol storage tanks operators in the country.

Folawiyo  which has three Tanks for petrol has a storage capacity of 80,000 cubic meters, m3, located in Creek Road Apapa, while MRS with 11 tanks has a capacity of 65,200 (M3) located in Tin Can Island.

Storage Data obtained from the Department of Petroleum Resources also revealed that 27 of the 39 independent oil marketers have about 68 tanks for PMS with a combined capacity of 502,666 (M3).

Integrated Oil and Gas located at Ibafon Apapa has a capacity of 52,000 (M3) with two tanks, where Zenon Petroleum and Gas with 10 tanks and a capacity of 44,000 (M3) situated at Ibafon, Apapa, and Rahamaniyya Oil and Gas at Beachland Estate with a capacity of 40,000 from two tanks.

NIPCO Plc, partly owned by IPMAN has a capacity of 22,500 with three tanks located at Dockyard Road, Apapa.

Among the six major oil marketers, Mobil at Apapa has the highest storage capacity of 17,181 with two tanks, while Oando (Terminal 1) at Apapa has 15,366 capacity with three tanks, followed by Forte Oil, formerly African Petroleum with 14,673 capacity and four tanks.

Dee Jones Petroleum and Gas Ltd located at Beachland Estate has a storage capacity of 13,500 with two tanks, while other independent petroleum dealers in Lagos, like Acorn Plc (formerly WABECO) has 5,534 capacity with one tank; Sahara Energy 6,000 capacity with one tank both located at the Ibru Yard,

Other smaller tank farm operators like Fatgbems Petroleum Company, Bovas, Swift and Index Petrolube Africa located at the Kirikiri Estate have a combined capacity of 28,815 (M3) from five tanks.

Similarly, First Deepwater Discovery Ltd and Gulf Treasure Ltd have constructed tank farms at Ijegun Satelite with a combined capacity of 25,100 and three tanks.

Investigations further reveled the major marketers have a total of 21 tanks for petrol with a storage capacity of 109,173 while AGO has 17 tanks with a capacity of 60,704.

On the other hand, the independent oil marketers have a total combination of 91 tanks for automotive gas oil, AGO, with a capacity of 386,553 m3, 58 tanks for household kerosene, HHK with a capacity of 206,922m3, and 11 tanks for aviation turbine, kerosene, ATK, with a of 26,512 m3.

Other products include Bitumen from two tanks with 9,400 capacity, LPFO has 19 tanks with a capacity of 33,050.

However, no independent marketer has storage facility for Liquefied Petroleum Gas, LPG or cooking gas, but the marketers have six tanks for base oil with a capacity of 8,000.