👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Business NewsNews

Buhari to inaugurate Pinnacle’s $1bn terminal at LFTZ

The over $1 billion goods terminal owned by Pinnacle Oil & Gas Limited will be officially opened by President Major General Muhammadu Buhari (retd) on Saturday.Information Guide Nigeria

In the heart of Lagos’ Lekki Free Trade Zone sits the terminal with a capacity of more than a billion litres.


👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Pinnacle, which holds a 23% market share in the downstream sub-sector, is a significant player in addition to the NNPC, the largest market provider.

Peter Mbah, group chief executive officer of the company, remarked on the accomplishment, stating that the facility, which featured both offshore intake facilities, was located 23 metres from shore in water with a capacity of 80 00 million litres.

Other Top Stories:

“What we are about to unveil on Saturday is an offshore intake facility. There are actually two offshore intake facilities. One sits on a water depth of 23 metres that has two cargo pipelines of 24-inch diameter. We also have the CBM, which sits at a water depth of 17 metres. It has two cargo pipelines of 16 diametres.

“Currently, the way the operations in the downstream work is that you have these large vessels which are unable to go to the port because the water channel is not deep enough for them to berth where the storage terminals are. What typically happens is that those mother vessels sit at the anchorage and wait there where daughter vessels are taken to them. A typical mother vessel has between 80-100 million litres capacity, while a daughter vessel does 15-20 million litres.

“For a mother vessel, the shuttle vessel would need to do a minimum of four voyages, and each takes an average of eight days to do one voyage. What we did was to observe these multiple handlings in operations, and designed facilities that disrupt those sub-optimisation and inefficiencies.Jamb Result 

“So, the SPM, and CBM allow one to take the mother vessel in an open sea and discharge from that point to an offshore terminal storage using the subsea pipelines in just two days,” he said.

Check Jamb Result 
Check and Confirm: How much is Dollar to Naira 

📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing. Whatapp: 08088735884

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker