Wabeco Petroleum Limited (formerly West African Bitumen Emulsion Company Ltd) was founded in 1979 as a response to a massive road development program in Nigeria requiring large quantities of bituminous products for road surfacing. In 1980 Wabeco Petroleum Limited built its first bitumen emulsion plant in Kaduna State, Northern Nigeria, next to the newly built Kaduna Refinery in order to have easy access to the main raw material bitumen, required for the manufacturing of the emulsion. By 1996, the Nigerian government embarked upon deregulation, and Wabeco Petroleum Limited was the first indigenous company to build an import terminal for white refined products at Ibafon, Apapa, Lagos which was sold in June 2008 to make way for two state of the art depots in Calabar, Cross River State and Cotonou, Benin Republic. In 2016, Wabeco Petroleum finished the construction of new bitumen depots in Lagos and Calabar, then concludes exciting joint venture agreement with Trafigura establishing “PE Bitumen Resources Limited” as a major local bitumen marketing company.
