Downstream oil and gas company Rainoil has launched a Liquified Petroleum Gas (LPG) facility with a tank capacity of 8000 metric tonnes at Ijegun, Lagos
The LPG business also offers a fleet capacity of about 40 LPG trucks that would ensure product distribution to bulk buying customers owning LPG filling facilities.
In the coming months, Rainoil Gas will also meet customers’ energy needs at the retail end. There are filling plants in the process where LPG can be supplied in cylinders to consumers.
The group managing director, Rainoil Limited, Gabriel Ogbechie believed that Rainoil Limited's expansion aligns perfectly with the company’s vision and mission of continuously providing solutions to fill the gaps in the energy sector.
With a projected LPG market size of US$10bn, Nigeria has the fastest growing LPG sector in the world, with domestic demand increasing by 40 per cent. Rainoil Gas will support the policy of deepening LPG penetration by the federal government and will improve domestic LPG consumption nationwide. The business will also increase LPG’s flexibility in domestic storage.
Over the last 20 years, Rainoil Limited has grown to include: three petroleum product storage depots-50 million litres each in Delta State, Cross River State and Lagos State; more than 81 retail outlets across the country; a fleet of more than 100 tank trucks for efficient product delivery and one shipping vessel with a total capacity of more than 20,000 metric tonnes.