The company trades Crude and Fuel Oil, Condensates and Liquefied Petroleum Gas (LPG) as well as refined petroleum products such as Gasoline, Dual Purpose Kerosene, Gasoil, Naphtha, Jet Fuel.
Our inherent trading strategy is based upon our commitment to the continued growth and strength of our physical positions in the crude oil and petroleum product markets, with a long- term focus on enhancing our market share to become the leading local partner in African energy trading. We recognize that our growth has been fertilized by our existing partnerships with major petroleum companies, and we aspire to develop valuable, long-term relationships with leading producers and refiners of crude oil and marketers of petroleum products. For us, diversification of our trading portfolio is vital to balance our product mix and maximize our efficiency and profitability. We invest in strategic assets that complement our existing trading business, and seek to grow our global footprint by expanding our operations into new, robust regions of the world, positioning the firm to take advantage of attractive conditions in the international energy marketplace. Fundamentally, we remain committed to conducting our business firmly upon transparent financial and operating platforms, augmenting our existing reputation as a reliable partner. We strive to operate responsibly with great respect for the natural environmental and the social welfare of the communities of our areas of operation.
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IOL is a registered shipping company. Shipping is one of the key success factors in trading, we understand the importance of this and set up a shipping desk within the group Our ability to partner with ship owners in a bid to meet the diverse requirements of our clients has lead us to invest more in the relationships both in Nigeria and internationally.
The shipping of oil liquids and natural gases is vital to maintaining energy security, particularly in regions like Nigeria where indigenous resources (refineries and terminals) cannot keep up with demand for petroleum products. Equally, a lot of daughter vessels are required to lighter and aid discharge of import product in Nigeria due to shallow draft restrictions at our jetties, meaning that Oil and gas will remain very important in the energy mix to 2050 and beyond. And living standards in developing and highly populous economies such as Nigeria are expected to see dramatic changes as will demand for shipping. In Nigeria, there are over 350 vessels operating in our territorial waters most of them owned by foreign companies. Only a few are owned by indigenous companies and fewer still have valid trading documents this created opportunity for us to invest in shipping.
Shipping is about reducing and managing risks. It's about achieving and delivering the highest standards of governance, health, safety, security of supply and environmental performance, and working with international bodies to promote industry standards.
Due to the ever increasing improvement in the African terrain IOL leases smaller vessels like Platform supply vessel, Fast intervention vessels, Diving support vessels and security vessels also.
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