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Nigeria’s oil market in limbo following NNPC-OVH deal

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After it transitioned from a government-controlled national hydrocarbon corporation to a privately-run entity, Nigeria’s NNPC Limited announced last week a major deal which it believes is key to its ambitious expansion drive.

After transitioning from a government-controlled national hydrocarbon corporation to a privately-run entity, the Nigerian National Petroleum Company Limited announced last week a major deal that it believes is key to its ambitious expansion drive.

The company acquired the downstream assets of OVH Energy, including a reception jetty with 240,000MT monthly capacity, eight LPG plants, three lubes blending plants, three aviation depots, and 12 warehouses., is the 380 Oando-branded fuel filling stations that NNPC Retail Limited will add to its over 500 outlets across Nigeria. NNPC aims to own at least 1,500 retail outlets, which will make it the largest downstream company in Africa.

 

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