In an effort to increase the economical potency that will add value to the oil and gas sector, Acorn Petroleum has revealed its commitment to expanding downstream operations with the view of providing upgraded services in the sector.
This was made known by the Acorn’s Managing Director; Mr. Doyin Adeyinka recently in Lagos.
Mr. Adeyinka said that the company has approached the capital to raise funds for the purpose of constructing some basic infrastructure that is highly needed such as storage facilities, retail outlet chains, lubricant blending plants, cooking gas plants and ultra-modern oil terminals.
These developments were termed as part of the working capital investment plan of the company which is expected to be accomplished before the quarter of next year.
Responding to the call for strategic plans to give liquidity and exit options to its shareholders, Mr. Adyinka said, “the company has started listing existing shares with NASD via listing by introduction, this will be ready by December 2015”.