By Adedapo Adesanya
BonnyLight Energy and Offshore Limited has announced the supply of 20,000 metric tonnes (MT) of Premium Automotive Gas Oil (popularly known as diesel) into the Nigerian market to help bridge the huge gap in Nigeria’s refining capacity.
The product, lifted from Amsterdam, Netherlands, is poised to wet the company’s tank farms strategically located to serve key markets situated across the region through its base in Kirikiri, Ijegun, Creek Road in Lagos; Warri and Oghara in Delta State as well as Port Harcourt, Rivers State.
The product supplies come at crucial times occasioned by high consumption of diesel from corporates, transporting institutions and even households to ensure product security across all sectors.
Speaking on this, the Vice Chairman of BonnyLight Energy and Offshore Limited, Mr Toyin Banjo said; “BonnyLight is proud to be an active member of the industry’s stakeholder community committed to the continual delivery of premium fuel that drives our fast-emerging economy amid the recession and the attendant COVID-19 pandemic era.
“Furthermore, we are poised to support the Federal Government’s efforts to revamp the energy sector and successfully steer the economy towards a fully market-led and deregulated regime of the downstream petroleum sector.”
Additionally, the inflow of BonnyLight’s 20,000.00 MT premium diesel supply will significantly aid the country’s manufacturing industry to ramp up production which was further impacted by the COVID-19 pandemic.
Based on estimations by the Petroleum Products Pricing Regulatory Agency (PPPRA) of national daily petroleum consumption currently at 56 million and 14 million litres for Premium Motor Spirit – PMS (also known as petrol) and Automotive Gas Oil (AGO), BonnyLight Energy intends to help maintain product supply stability for Nigeria’s economic recovery efforts.
Established in 2016, BonnyLight Energy and Offshore Limited is an emerging indigenous player in the premium petroleum products (including Liquefied Petroleum Gas – LPG and lubricants) storage, marketing, and distributions in Nigeria.
The firm is wholly indigenous petroleum downstream and an emerging player in product storage, marketing and distribution of petroleum products and other related services.
It also services the upstream sector through Oil Bunkering, Bulk Supplies, Lube Oil and Freshwater supplies, EPC (Engineering design procurements and construction) and ancillary services. It supplies to rigs, vessels, oil platforms among others.
more recommended stories
Union Bank, Others Fund Heirs Holdings, Transcorp’s Acquisition of OML 17
By Dipo Olowookere Union Bank of.
Despite UBN, Friesland Gains, NDEP Drags NASD Down by 0.19%
By Adedapo Adesanya It was a.
Naira Trades Flat Against Dollar Across FX Segments
By Adedapo Adesanya The Naira was.
Oil Tumbles on Renewed Lockdown in China
By Adedapo Adesanya Oil prices tumbled.
First Bank Loses Assets Over N182bn Debt
By Aduragbemi Omiyale All may not.
AB InBev Cancels $165m Investment in S’Africa Over Alcohol Ban
By Adedapo Adesanya The South African.
Understanding Private Equity and Alternative Investments
By FBNQuest Although there are a.
Ecobank Sponsors TV Show to Raise Funds for Entrepreneurs
By Modupe Gbadeyanka As part of.