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NNPC Limited Acquires OVH Energy Downstream Assets

Business Oil and Gas

NNPC Limited Acquires OVH Energy Downstream Assets

NNPC Ltd acquires OVH Energy Downstream assets

The Nigerian National Petroleum Company (NNPC) Limited says it has completed the acquisition of OVH Energy Downstream assets to strengthen its downstream business portfolio to enhance profitability and guarantee National Energy Security.

NNPC Limited made the announcement in a statement shared on Facebook on Saturday.

According to the statement, the acquired assets include a reception jetty (ASPM) with 240,000MT monthly capacity, 8 LPG Plants, 3 Lubes Blending Plants, 3 Aviation Depots and 12 warehouses.

“The acquisition, which is under our Accelerated Network Expansion (ANEX) Initiative, will bring over 380 additional filling stations under the NNPC Retail brand in #Nigeria & #Togo, on our journey to attaining 1,500 stations.

“With this development, we are poised to becoming the largest petroleum products Retail network on the African continent,” the statement read in part.

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