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Ontario Oil to Supply 100,000mt of refined products under PPPRA Scheme
Ontario Oil & Gas Nigeria Limited "started primarily as a downstream company engaged in petoleum trading activities in Nigeria and the West Africa Sub-Region. Established
in 2006, we have within our few years of existence made significant strides in the downstream
sector of the oil and gas industry in Nigeria. From a small trading and supply company bridging
supply gaps for distribution majors to a major importer of refined products.
With access to trading funds of upwards of $500m, Ontario Oil & Gas have imported a
combined sum over 300,000mt of PMS, DPK and AGO over the last 14months, supplying mostly
NNPC and PPMC for PPPRA deliveries. This is in addition to securing lifting rights for 2
million barrels of crude monthly, under the swap contract.
"As a result of our excellent performance under the PPPRA Scheme, the NNPC has further increased our contract to supply 100,000mt of refined products monthly for the next 12
months", thereby increasing our import volumes. This rapid increase in capacity necessitated
an urgent need to recently acquire a storage facility, a move initially planned for the 2nd quarter of 2012.
The storage facility situated in Calabar in the East central part of the country with a capacity to store 35kmt of refined products is valued at over $200m. In addition to the 12kmt storage facility at Oghara, Delta State, our total storage capacity for all refined products is now 47kmt. This is aside from various through-put arrangements and leases at various parts of the country.
Date: October 2011
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As a result of our excellent performance under the PPPRA scheme, the NNPC have further increased our contract to supply 100,000mt of refined products monthly for the next 12 months, thereby increasing our import volumes. This rapid increase in capacity necessitated an urgent need to recently acquire a storage facility, a move initially planned for the 2nd quarter of 2012.Read More>>