Sunday, November 27, 2022
HomeNewsAfricaNigeria’s oil market in limbo following NNPC-OVH deal

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

The company acquired the downstream assets of OVH Energy, including a reception jetty (ASPM) with 240,000MT monthly capacity, eight LPG plants, three lubes blending plants, three aviation depots, and 12 warehouses.

The highlight of the deal, whose value remains undisclosed, 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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