Rainoil has launched its Liquified Petroleum Gas (LPG) facility and business at its multi-product facility in Ijegun, Lagos, Nigeria.
The LPG business which will trade as ‘Rainoil Gas’ kicked off operations with a tank capacity of 8000MT and a fleet capacity of about 40 LPG trucks which would ensure distribution of products to bulk-buying customers who own LPG filling plants. Rainoil Gas will also meet the energy needs of customers at the retail end in the coming months. There are filling plants in process where LPG can be supplied in cylinders to consumers.
The Group Managing Director, Rainoil Limited, Dr. Gabriel Ogbechie believes that the expansion of Rainoil Limited perfectly aligns with the company’s vision and mission to continually proffer solutions to fill the voids in the energy sector.
Nigeria has the fastest growing LPG sector in the world with a projected LPG market size of $10 billion, with the domestic demand seeing an increase of 40%. Rainoil Gas will support the Federal Government’s policy on deepening LPG penetration and will improve domestic consumption of LPG nationwide. The business will also increase domestic storage flexibility of LPG.
Rainoil Gas will provide direct and indirect employment opportunities, including training, skills acquisition, transfer and enhancement. Its operations also have an added environmental protection benefit as it reduces gas flaring and encourages the use of cleaner fuels
Rainoil has grown over the last 20 years to include: 3 ultra-modern petroleum product storage depots- 50 million litre capacity each in Delta State, Cross River State and Lagos State; over 81 retail outlets across the country; a fleet of over 100 tank trucks for efficient delivery of products and 1 shipping vessel with a total capacity of over 20,000 metric tonnes.