3 October 2008
The Chief Executive Officer of Capital Oil and Gas, Mr Ifeanyi Ubah, has said that the multibillion naira private jetty project that will prevent ships bringing petroleum products from incurring demurrage has been completed.
Ubah told the News Agency of Nigeria (NAN) in Lagos today that the jetty would reduce the problem of artificial scarcity and high cost of petroleum products occasioned by protracted queues and high rate of demurrage on vessels bringing in products.
He said that the jetty was part of an expansion programme, which included the acquisition of modern tankers, vessels and the development of several mini depots and filling stations across the country. He said that the jetty, located at the Ibru complex in Apapa, had about 14 other petroleum products depots operating within the same vicinity, and that the complex was supplying about 38 per cent of the nation's petroleum products.
"The jetty would also have a state-of-the-art equipment to ensure that the maximum product discharge at a time does not stay beyond 72 hours in the jetty," he said.
He said that work had commenced on the phase two of the jetty, which is capable of berthing four mother vessels at a time when completed. (NAN)
Be the first to Write a Comment!
Copyright © 2008 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
