Emadeb Energy Services Limited, a Petroleum Products Haulage and  Distribution Company, has ventured into ownership of retail outlets through which it plans to increase earnings across the nation.

In a statement made available to Sweetcrude, the company’s Chief Operating Officer, Mrs Kike Ojo-Awosika said: “Prior to now, Emadeb Energy has specialised in the importation, storage and distribution of refined petroleum products, particularly Premium Motor Spirit (PMS), which forms more than 60 percent of the total import in the sector.

“The retail outlets will increase our assets base, thereby meeting regulatory requirements for bigger transactions in the oil and gas sector.

“It will also increase our rating with local and international financial institutions, thus having access to cheaper funding,” she further stated, adding that “it will increase our market share and attract investment opportunities from international oil and gas companies who may be willing to partner indigenous entities.”

She also said that one of the twenty retail outlets, which the company targeted to build nationwide before the end of 2018,would be commissioned in Abuja earlier this month.

She noted that the company’s decision to build retail outlets, the significant percentage of which would be sited in Abuja, Lagos and some southern cities, stemmed from the management of the company’s growth strategy, and the commitment to taking its business to the next level, following the commissioning of the ultra modern Tank