The marketing division of unlisted OVH Energy was purchased by Nigeria’s state-owned oil major NNPC Ltd, giving it access to 380 gas stations in Africa’s largest oil producer and Togo, among other assets, the two companies announced on Saturday.
Owner and operator of retail service stations with the Oando brand, OVH Energy Marketing, announced that the outlets would be rebranded NNPC, with full integration anticipated by the end of 2023.
The agreement also grants NNPC access to 12 warehouses, three aviation depots, and eight liquefied petroleum gas installations.
The NNPC, which turned into a business in July, now owns more than 500 gas stations throughout Nigeria and announced it would be prepared for an IPO by the middle of the following year.
