Propetrol eyes oil retail outlets
An indigenous company, Propetrol Limited, has concluded plans to increase its retail outlets through the acquisition of more available assets in the country.
The company, which has retail network across 18 outlets in the Southern part of Nigeria, is ready to take over retail outlets, which some oil majors are ready to relinquish their interest.
It also disclosed plans to partner with foreign company in the Nigerian bunkering business of the oil and gas sector.In the global petroleum/marine industry, oil bunkering is a legitimate business that involves the process of supplying a ship with fuel.
Speaking during an interactive session with the media executives to mark 15 year anniversary of doing business in Nigeria’s oil and gas sector, the Chief Executive Officer/Managing Director, Harry Ebohon, disclosed that the company has become a leading player in the bunker supply business.
According to him, “We are a key indigenous player in the bunkers market. Our inroad into the bunkering market was informed by the gap in the sector in terms of indigenous participation. The sector, which was dominated by the foreign players, witnessed series of withdrawals due to insecurity and slump in the price of crude oil in the international market.
“Today, we are one of the leading indigenous players in the bunker supply sector in Nigeria, providing services to leading International Oil Companiess, National Oil Companies, rigs, platforms and dredging companies, vessels on Nigeria waters, marine equipment. In consolidation of our market leadership in this niche, we have entered into partnership with international corporates to offer even more robust services to our customers in markets where we are not physical. We shall be making announcements in this regard in the coming weeks.”
He posited that when the company commenced operations 15 years ago, it was providing logistic services to downstream petroleum marketers. “They relied on our trucks to speedily and efficiently move products to every part of the country. But we decided to play a more prominent role in the industry and increase our footprints and investments across the oil and gas value chain.
“We went into retail marketing franchise with Oando, a leading major marketer.
Down the line, we saw a gap in the forecourt experience in the retail market and decided to increase our capacity and market share and launched our brand – Propel.
“The Propel brand was designed to represent the vibrant energy inherent in the customer service delivery of Propetrol limited. With our value proposition of competitive pricing, reliability, quality products and exceptional forecourt experience (introduction of outdoor video screens on the forecourt for entertainment and information purposes) our retail network has spread across 18 outlets in the Southern part of Nigeria.
“We don’t only retail all refined petroleum products such as PMS, AGO, Kerosene, LPG, lubricants, LPFO, we also distribute and supply these products in bulk to commercial and industrial customers in the country,” he said.