Neptune Oil launches hydrocarbons transportation

The Neptune Oil Group has just brought to the baptismal font in Cameroon, the Neptune Oil Storage Company (Nosco), according to a legal announcement.

Neptune Oil is known for the distribution of petroleum products through a still small network of service stations in Cameroon and Senegal,

This subsidiary with a capital of FCFA 1 billion has a Cameroonian CEO, Antoine Ndzengué, while the Board of Directors is chaired by Patrick Durussel.

According to the corporate's purpose focused on the legal notice, the company specializes in "storage and transportation of liquid hydrocarbons or liquefied upstream of deposits" as well as "all the financial operations, commercial, legal or social relating directly or indirectly to its object."

The new entity could bring a new sounding board in the activity of storage of petroleum products in Cameroon, which is currently held by the Cameroon Society of Petroleum deposits (SCDP), parastatal whose capacities are considered to be limited despite the construction projects of new tanks currently underway.