Pinnacle Oil and Gas Limited’s Commitment
Pinnacle Oil and Gas Limited pledges safe access to petroleum product distribution from the Dangote refinery, ensuring a smooth supply across the country.
Support for Dangote Refinery
The company is dedicated to supporting Dangote refinery’s growth. A connection between its facility and the refinery will provide extra storage and distribution channels. This will cut down long truck queues waiting to load at the refinery and enable buyers to transport products by sea to inland markets like Warri, Port Harcourt, or Calabar, thus saving on overland distribution costs.
Addressing Storage Allegations
Pinnacle Oil and Gas denies claims that its Lekki facility stores substandard petrol. The Lekki terminal boasts a world-class design for over 1 billion liters of storage capacity, with over 300 million liters already operational. The terminal receives products through Single Point Mooring (SPM) and Conventional Buoy Mooring (CBM), linked by over 40 kilometers of deep-sea pipelines.
Efficient Operations
The facility optimizes the reception and export of refined products, reducing handling costs and loading times. Since its opening in 2021, it has become Nigeria’s most efficient refined products handling facility. It serves various market players and saves the country significant amounts in foreign exchange handling costs.
Clarifying Facility Functions
The company emphasizes that its facility does not serve as a refinery or a substitute. Instead, it complements refineries by providing additional storage and distribution options across the country.
Pipeline Interconnection Agreement
Pinnacle Oil has engaged in discussions with Dangote Refinery since 2022, leading to a pipeline interconnection agreement that streamlines product distribution. This agreement remains in effect, and the company has not received updates on any changes in Dangote’s interest in the project.
Rejection of Substandard Product Claims
Pinnacle Oil categorically rejects allegations of blending substandard products. The Nigerian oil industry has clear standards for petroleum products, enforced by qualified regulators. Pinnacle consistently meets these standards, and its facilities welcome regulatory inspections and monitoring now and in the future.
