Propel Group expands, partners foreign company in oil bunkering business

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By Sebastine Obasi

PROPETROL Nigeria Limited, one of the indigenous oil service companies, appears to be changing the narrative in the sector as it partners with a foreign company to offer bunkering services, hitherto dominated by foreign companies.

In the global petroleum and 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 to mark 15 years anniversary of doing business in Nigeria’s oil and gas sector, the Chief Executive Officer/Managing Director, Propetrol Limited, Mr. Harry Ebohon, said that his company has become a leading player in the bunkering business.

“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 companies, IOCs, national oil companies, NOCs, rigs, platforms, dredging companies, vessels on Nigeria waters and 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 said.

He explained 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.”

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