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Oriental News Nigeria
Home»Energy»Oil & Gas»Mainland Oil To Balance Investment Initiative Around CNG Development 
Oil & Gas

Mainland Oil To Balance Investment Initiative Around CNG Development 

By Orientalnews StaffOctober 31, 2024No Comments4 Mins Read
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Uche Cecil Izuora

Mainland Oil and Gas Company Limited has revealed short and medium term business expansion initiatives that will open collaboration opportunities for refiners and stakeholders in the West African midstream and downstream petroleum industry.

With its vast facilities and infrastructure for logistics for shipping, stockholding, distribution, and marketing of fuel products, the company stated that it is positioning as the most enabling partner to emerging refiners, traders and marketers in the Nigerian and regional fuel markets.

Specifically, the company is eyeing key areas including an expanded retail infrastructure, compressed natural gas (CNG) storage and retail handling facilities, increased liquefied petroleum gas (LPG) retail capacity, and new energy distribution channels.

Managing Director, Dr Chris Igwe, who addressed the media at the African Downstream Energy Week in Lagos, shared the company’s vision of establishing an extensive collaborative network, backed by billions of Naira in fresh investments dedicated to expanding its midstream and downstream infrastructure for greater reach and efficiency.

Dr Igwe, told industry journalists at the event that the investment would enhance the company’s stockholding and distribution facilities, bolstering its capacity to meet rising demand across Nigeria and the wider West African market.

“We’re committed to creating a robust, accessible supply chain that serves the evolving energy needs of the region,” he said, noting that partnerships with refiners and marketers would be pivotal in advancing this mission.

As part of its showcase at the OTL Expo, Mainland Oil and Gas unveiled its expanded range of lubricant brands which is developed to meet the latest international standards and specifications for various industrial and automotive applications.

The exhibition stand featured the company’s growing product portfolio, aimed at positioning Mainland Oil and Gas as a comprehensive energy supplier across multiple market segments.

Dr Igwe announced an extensive repositioning strategy at the OTL and outlined plans to diversify the company’s fuel products and expand its facilities across Nigeria.

He disclosed that the company would inject tens of billions of Naira into developing new facilities, including an expanded retail infrastructure, compressed natural gas (CNG) storage and retail handling facilities, increased liquefied petroleum gas (LPG) retail capacity, and new energy distribution channels.

The new investments, he explained, are designed to meet shifting consumer demands in the domestic fuel market and align with the Nigerian government’s reforms in the downstream petroleum industry.

He emphasized that Mainland Oil has positioned itself as a “one-stop shop” for diversified fuel products and services across all six geopolitical zones in Nigeria, striving to become the leading channel of energy supply nationwide.

“Our goal is to provide diversified, high-quality energy options to customers, adapting to a fast-changing market landscape and supporting Nigeria’s drive for a modernized, self-sufficient energy sector,” Igwe said.

The expansive infrastructure rollout is aimed at enhancing Nigeria’s energy accessibility, with facilities designed to meet rising demand for CNG and LPG, reflecting the country’s push toward cleaner energy sources.

With this repositioning, Mainland Oil and Gas is set to establish a robust presence across the country, solidifying its role in Nigeria’s evolving energy landscape.

“Our goal is to meet the needs of a fast-changing market with a diversified portfolio that not only aligns with industry reforms but also exceeds customer expectations,” he said. The repositioning initiative allows the company to remain competitive as the sector undergoes rapid transformation, and capitalize on emerging opportunities within the industry to become a key player in the evolving energy landscape.

Dr. Igwe also noted that the repositioning will support government initiatives aimed at strengthening local capacity and encouraging private-sector involvement in Nigeria’s energy market and by implementing the new strategy, he said, Mainland Oil would position to respond effectively to market demands, providing consumers with high-quality, diversified options while contributing to the development of Nigeria’s energy sector.

Through its investments in midstream and downstream infrastructure and a call for strategic partnerships, Mainland Oil aspires to be a leading channel for reliable energy supply in West Africa, underscoring its commitment to quality and regional collaboration.

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Orientalnews Staff

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