…Celebrates 20th anniversary
By Okanlawon Ayo
Rainoil Limited, an integrated downstream oil and gas company has increased the number of its filling stations to 61 across 36 states of the Federation. This was disclosed in a welcome address by the Group Managing Director of Rainoil Limited Mr Gabriel Ogbeche during the 20th anniversary lecture at Civic Centre in Lagos last week.
Our stations are strategically located in major cities such as Lagos, Abuja, Kaduna, Port Harcourt, Calabar, Uyo, Enugu, Onitsha, Asaba, Makurdi, Sapele, Lafia, Keffi etc. We have a large and diverse customer base of retailers who rely on us for supply of products.
Mr. Ogbechie said during the 20th anniversary lecture on the achievements of the company that as a result of non-stop investment, the company has been able to establish 61 petrol stations in the country to boost access to fuel supply by motorists and other users.
According to him, “we have gone from buying one ship, at of today we have six ships and have more than 90 tank trucks today. When you don’t stop investing somehow you are able to build that internal capacity within the system to be able to absorb shock because shock will surely come. Rainoil today is a company with a national spread, we have petrol stations across the country, and we have tank farms across the geo-political zones”
Ogbechie said, 20 years of the industry is a big achievement that has a foundation of challenges with government policy of increasing the price of fuel to 145 and removing subsidy without necessary deregulating the sector also created a lot of challenges for the downstream sector.
“Regardless of all these we are still optimistic that there are lots of opportunities in the sector for a country of a 180million people, people largely moving around by cars rather than mass transit which gives us a lot of demand in the petroleum products” he said.
Recently, in an effort to support government policy in ensuring constant supply of Premium Motor Spirit (PMS) to Nigerians and serve its customers better in the New Year, Rainoil Limited commissioned another filling station in Abijo, Aja Lagos.
Rainoil Limited, a wholly indigenous company and a prominent player in the Nigerian industry with the company’s operations spanning across the downstream value chain i.e. Petroleum Product Storage, Haulage/Distribution and Retail Sales. Our primary products include Petrol (PMS), Diesel (AGO) and Kerosene (DPK).
The company incorporated in November 1994 and began business as a petroleum products marketing company in May 1997. The company’s assets base has also grown over the last 20 years to include:Bulk Storage – 2 ultra-modern petroleum product storage depots i.e. a 50 million litre capacity multi-product depot in Oghara, Delta State and a 40 million litre capacity multi-product depot in the Calabar Free Trade Zone, Calabar, Cross River State. It also has a fleet of over 91 tank trucks for efficient delivery of products to our network of stations and customers across the country. The fleet is frequently renewed through a deliberate truck acquisition policy.
- Marine Services – 6 shipping vessels; with a total carrying capacity of over 120,000 metric tonnes.