NNPCL acquires OVH Energy’s downstream assets

Champion News 

The Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy.

 

Speaking at the unveiling of one of the new NNPC Limited stations formerly Oando in Abuja , the Group Chief Executive Officer NNPC Limited, Mallam Mele Kyari, said: “The acquisition will bring over 380 additional filling stations under NNPC Retail brand in Nigeria and Togo, on our journey to attaining 1,500 stations. We will be the largest petroleum product retail network in Africa.”

 

Kyari also noted that the acquisition was to strengthen the downstream business portfolio to enhance profitability and guarantee National Energy Security.

 

“NNPC has under an Accelerated Network Expansion (ANEX) Initiative completed the acquisition of OVH downstream assets including reception jetty (ASPM) with 240,000 metric tons monthly capacity, eight Liquefied Petroleum Gas (LPG) plants, three lubes blending plants, three aviation depots, and 12 warehouses,” he said.

 

He commended the board for the acquisition just as he lauded President Muhammadu Buhari who is also the Minister of Petroleum for laying the foundation for improving energy access…

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