NIGERIA – Petrocam Trading Nigeria Limited, an operator in the nation’s downstream oil sector, has announced its aim to increase the number of its fuel stations across the country to 50 in the next five years.
“We are doing well and moving fast. We started this expenditure in 2014, and we have been growing exponentially,” said Ilo.
“We are going to unveil another station next year, and another one in December. In the next five years, we are targeting about 50 stations.”
Mr. Ilo described the new station as a one-stop shop for Premium Motor Spirit (petrol), Automotive Gas Oil (diesel), Liquefied Petroleum Gas (cooking gas), lubricants and other services, with a capacity for about 270,000 litres.
Ilo, also expressed optimism about the downstream sector of the nation’s oil sector.
“I think the downstream oil and gas sector is promising; there is sanity,” said Ilo.
“If you look at the standards daily, people are raising the standards and with the trend of population growth, I think there is a lot of prospect for the sector.”
He noted that although margins were reducing, operators should avoid short-changing customers.
“Operators should know that margins generally will grow thin, and the most significant thing is that fuel business is a volume business; so we must make sure that we are able to expand our market to bring more people into the market,” Ilo said.
“People should make sure a litre remains a litre despite the thinning margin.”
He also added that “If you cheat the unsuspecting consumers, it would have a reverberating effect on your business. If you cheat people, you will not last.”
Petrocam Trading (Pty) Ltd, established in 2004, is an entity focused on commodity trading in Africa with a major emphasis on petroleum products.
The company has established offices in South Africa, Nigeria, Ghana and Kenya.
Its planned goal to own and operate 50 fuel stations is part of its ambitious expansion strategy.