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Russia’s Lukoil Plans Fresh Investment In Nigeria

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Nigeria and Russia have struck an oil deal as Russia’s leading oil company Lukoil’s subsidiary , Lukoil Company Nigeria Limited, and operator of the OML

The deal was struck when Prof. Abdullahi Shehu, Nigerian Ambassador to the Russian Federation met with Mr. Ivan Romanovsky, the vice president of the Lukoll Group in charge of West Africa, Europe, and America, in Moscow, on Thursday 19th August 2021.

The vice president of Lukoil informed of the company’s Financial capacity to expand its operations in new areas of investment through partnership with indigenous companies. Under this agreement, the business interests/partnership include funding of the Warri Refinery and Petrochemical Company Rehabilitation project, as well as expansion of Lukoil’s Gas/Power interests in Nigeria. Accordingly, a technical team of Lukoil, arrived in Nigeria in July 2021 to execute this agreement.

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