Beco Petroleum PP

[blanka]

Spot on Nico J, spot on...You hammered the nail on the head..

[saintkayode101]

Originally Posted by blanka

Spot on Nico J, spot on...You hammered the nail on the head..

I have read the tread but no financials yet. Can anyone help.

[hispy99]

Originally Posted by saintkayode101

I have read the tread but no financials yet. Can anyone help.

Don't think anyone has it yet. If anyone did, then I am sure they would have posted it here.

[challymart]

Originally Posted by Toby Uchenna

Hisppyy99,

I don't know why you are so negative about this company. Do you have something personal against them? The station in Alasia is alive and well. You are as wrong about it being closed as you are about everything else. When last were you in Nigeria? The company just acquired two new vessels valued at over 1 billion Naira. How many other petroleum marketing companies can boast of that? Wake up and smell the coffee and stop bashing a company you know nothing about. If you don't know enough perhaps you should be quiet.

uche,
why are u so positive about them?
what are there fundamentals?
pls share !

[Toby Uchenna]

PP info posted on their website (Beco Petroleum Products Plc | Homepage). Goodluck to all.

[hispy99]

Beco Begins Work on Integrated Tank Farm
By Udeme Clement-Ogbuanu, 07.28.2008

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In a bid to boost its operations across the country, Beco Petroleum Products Limited, a major player in the downstream petroleum sector, has begun the construction of an integrated tank farm in Ikot Abasi, Akwa Ibom State.
Speaking at the signing ceremony at the project site at the weekend, Beco’s managing Director, Mr. Henry Mojekwu, said the multi-billion naira project, when completed, will be one of the best in Africa.
He said that the state-of-the-art project would include storage tanks, bitumen processing plant and LPG plant.

He said an expansive jetty is already in place at the site for marine transportation of petroleum products.
When completed, he said that the project will drastically reduce the shortage of products being experienced in the South-South and South-East and North-Central zones of the country.

Speaking on Beco’s plans for the future, Mojekwu said the company recently begun the process to acquire three vessels, with combined capacity of 60 million litres, to add to the two it recently purchased.
“We are also set to acquire one of the largest floating storage in Nigeria with a capacity of 100 million litres,” he said.
He added that the new projects will the completed within 12 months.

Earlier this month, the company unveiled two mega service stations at Iyana Ipaja, Lagos and Oturkpo, Benue State.
The two stations formed the first batch of 17 such stations to be commissioned by Beco across the nation’s six geo-political zones by year-end. “We’re going to unveil another 15 of such mega stations before the end of the year.

These new outlets will span the six geopolitical zones of the country,” Mojekwu said.

He said that Beco is committed to partnering with government to ensuring uniform pricing for petroleum products across the country.
Beco had last month acquired two ultra modern marine vessels enhance coastal transportation of petroleum products and export of crude oil.
The N800 million investments followed the company’s 12-year impressive performance in petroleum products marketing. The company also recently shored up its capital base by N7 billion.