Nigeria and Russia Thursday in Sochi, Russia, signed an important Memorandum of Understanding , which will enable both countries’ oil giants, Nigerian National Petroleum Corporation and Russia’s Lukeoil to elevate commercial relationship to a government-to-government backed partnership.
With the signing of the MoU, NNPC and Lukeoil will work together in upstream operations and revamp Nigeria’s refineries. Group Managing Director of NNPC, Mele Kyari and Vagit Alekperov, President of leading Russian oil company, Lukeoil, signed the MoU, which entails cooperation in deep offshore exploration of oil in Nigeria, production, trading and refining.The signing ceremony, which took place on the sidelines of the Russia-Africa Summit, was witnessed by the Minister of State for Petroleum, Timipre Sylva.
Earlier in his remarks at a meeting with Russian President Vladimir Lenin, President Muhammadu Buhari said Nigeria was prepared and willing to work with Russian businesses “to improve the efficiency of our oil and gas sector which provides us with the much-needed capital to invest in our security, infrastructure and economic diversification programmes”.
While taking note of the agreement between NNPC and Lukeoil, President Buhari gave an assurance that his administration will “ensure this initiative is implemented within the shortest possible time.”
Fake news
There will be nothing left of Nigeria soon.
Please Vladimir Lenin isn't the president of Russia na, Putin is. All these pro-government news you churn out needs to be well vetted before doing so
How does that affect N145 per litre?
Is it 'Lukeoil', which is a small American company or 'Lukoil', the large Russian oil and gas giant?
Who send una
Hmm
MoU for what..? To make the refinery work again..? Or..?
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