This article was published on Year of Investment
Cameroon oil operator Tradex has launched the construction of its first service station in Malabo.
Scheduled for completion by October, the station will have storage capacity of 100,000 liters of fuel and 300 12.5 kg cylinders of butane gas, with the contract for construction awarded to local construction firm Alammarin For Constructing SL.
Controlled by Cameroon’s National Hydrocarbons Company, state-owned Tradex specializes in the trade, bunkering and retailing of crude oil and petroleum by-products in the sub-region of Central Africa, an area that has been largely underdeveloped in Equatorial Guinea.
In 2019, Tradex launched a three-year initiative to invest approximately $25 million in Equatorial Guinea, building a network of 10 service stations over the same period.
In 2018, the company obtained a license from Equatorial Guinea’s Ministry of Mines and Hydrocarbons for the distribution of petroleum products and the construction of service stations in the country. The authorization supported initiatives of regional integration, South-South cooperation, and Central African Economic and Monetary Community cooperation, as Equatorial Guinea represents the fourth member-state in which Tradex operates, following Cameroon, Chad, and the Central African Republic.
In 2015, Tradex signed a partnership agreement with Luba Oil Terminal Equatorial Guinea (LOTEG), under which the company stores its products in LOTEG’s facilities at the Luba Freeport and exclusively supplies ships that receive fuel at this point.