DPR licenses private depot to sell petroleum products

The Department of Petroleum Resources (DPR) in Akwa Ibom has granted licence to a private depot, Slock Petroleum Tank Farm, to begin sale of products.

Mr Asuqwu Antai, the DPR Controller of Operations in charge of Akwa Ibom and Cross River, announced this to the News Agency of Nigeria (NAN) in Eket on Sunday.

Antai said that the new tank farm, located in Ikot Abasi Local Government Area of the state, would commence operations in the first quarter of 2016.

“We are happy to announce that marketers in the Akwa Ibom axis will begin to bring in products into their facilities in Ikot Abasi,” he said.

The controller also said the new depot would help to stabilise the prices of petroleum products in the state.

He said the storage capacity of PMS at Slock petroleum depot was 24 million litres.

Antai further said that the owners of the depot in Oron and Mbo local government areas would soon get their licences to start operation.

According to him, they will be granted licences in the first quarter of next year.

“Our inspection of the construction shows that the facilities are up to 90 per cent completed; by early next year the facilities will be licensed too,” he said.