News
NNPC, Stena Bulk, Caverton launch new shipping venture
Nigeria National Petroleum limited NNPC, on Tuesday announced a joint venture with Swedish tanker giant Stena Bulk and Nigerian offshore logistics leader Caverton Marine to overhaul maritime transportation in West Africa. The newly formed company will streamline crude oil, refined products and LNG shipping across West Africa and cater to other oil producers and traders in the region with modern vessels.
“By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic refining, import and export capabilities and strengthen Nigeria’s position in global energy logistics,” Panos Gliatis, Managing Director of NNPC Shipping, said in a statement.
Erik Hånell, President & CEO of Stena Bulk, said the partnership aligns with the group’s strategy to expand its presence in key growth markets. Nigeria boasts Africa’s largest oil refinery and meets 5% of global LNG demand.
-
Stock Market2 days agoNGX All-Share Index, market capitalisation each rose
-
Oil and Gas2 days agoNNPC IPO will likely start with 5% to 10% listing, CEO says
-
News2 days agoLagos IGR made up 67.72 per cent of the state’s recurrent revenue, others rely on FACC allocation—BudgIT
-
Economy16 hours agoStates budgets exceed available funding, risking stalled projects, payment arrears—WBG
-
Oil and Gas2 days agoOil prices slide about 2% to multi-week low amid peace talks
-
Economy2 days agoEfficient Civil Service key to achieving $1tn economy by 2030—FCSC chairman
-
Finance2 days agoAccess Holdings to advance Africa’s Capital mobilisation agenda at AFIS 2026
-
Finance2 days agoWorld faces €30trn financing gap, Santander report warns