Nation
NNPC Shipping, Partners Unveil New Joint Venture
The Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited, have signed a new Joint Venture (JV) that will transform the country’s maritime transportation.
A statement by Mr Olufemi Soneye, the Chief Corporate Communications Officer, NNPC Ltd., yesterday said the joint venture would create a new company, aimed at providing top quality, reliable and efficient maritime transport.
The agreement, signed in London last week, aims to create a new tanker operation serving Nigeria and West Africa’s crude oil, refined product and Liquefied Natural Gas (LNG) regional and global shipping requirements.
Soneye said the partners would explore options to create a modern and efficient fleet of tankers, comprising both new and existing tonnage depending on market factors and commercial opportunities in the region.
He said the partners would evaluate opportunities for both vessel acquisitions and long-term charter arrangements, with a focus on maintaining competitive operating costs, while meeting the highest standards of safety and sustainability.
“This fleet will primarily serve the logistics needs of NNPC (crude, clean and LNG/LPG).
“Additionally, the new company will cater to other oil producers and traders, offering strategic advantage of a modern fleet, strong financial backing, and maritime pedigree and heritage,” he said.
According to him, the Managing Director NNPC Shipping, Mr Panos Gliatis, while speaking during the signing described the JV as a significant milestone in NNPC’s commitment to modernising Nigeria’s maritime infrastructure.
“By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform to enhance our domestic refining, import and export capabilities and strengthen Nigeria’s position in global energy logistics,” he said.
The President and Chief Executive Officer of Stena Bulk, Mr Erik Hånell, in his remarks said the collaboration aligned with the pragmatic strategy of expanding presence in key growth markets, while maintaining high standards of operational excellence and sustainability.
According to him, Nigeria’s energy sector is undergoing remarkable transformation, and it is proud to be part of the journey.
Also speaking, the Head of Stena Bulk U.S.A, Mr Johan Jawert, said it looked forward to developing shipping activities locally with Caverton and benefiting from NNPC’s strong position in the oil market.
Jawert said combined with its know-how across all aspects of commercial and technical shipping, it would create a world-leading shipping company providing first-class service to the energy market.
The Chief Executive Officer of Caverton Offshore Support Group, Mr Bode Makanjuola, said the joint venture, which was the result of many years of planning, marked a significant stride in enhancing Nigeria’s maritime capabilities.
“By combining local knowledge with international best practices, we are establishing a world-class operation that will benefit not only Nigeria but the entire sub-Saharan Africa region,” he said.
The country’s strategic location, growing population, and ambitious infrastructure developments are creating new opportunities for shipping companies.
By establishing this world-class tanker operation, the partners are not only meeting immediate logistical needs but also contributing to Nigeria’s long-term economic diversification and growth.
As the shipping arm of NNPC Ltd., NNPC Shipping spearheads the integral shipping logistics operations crucial for the country’s oil and gas distribution.
Stena Bulk, with offices in seven countries and a combined fleet of around 70 vessels, is one of the world’s leading tanker shipping companies.
Caverton Marine Ltd. is a leading integrated offshore support company providing marine and aviation logistics to oil and gas companies across Nigeria and sub-Saharan Africa.
Nation
HYPREP Marks 15 Years Of UNEP Report, Highlights Major Cleanup Milestones
The Hydrocarbon Pollution Remediation Project (HYPREP) has commemorated the 15th anniversary of the release of the United Nations Environment Programme (UNEP) Environmental Assessment Report on Ogoniland, reaffirming its commitment to restoring the environment and improving the livelihoods of affected communities.
In a statement signed by the Project Coordinator, Prof Nenibarini Zabbey, to commemorate the anniversary, HYPREP described the anniversary as a significant milestone in Nigeria’s environmental restoration efforts, noting that the project has made remarkable progress in implementing the recommendations of the landmark UNEP report released on August 4, 2011.
The UNEP report had revealed extensive oil pollution across Ogoniland, severe environmental degradation, and serious public health risks resulting from decades of petroleum operations. It also recommended an initial $1 billion fund to commence the cleanup of the affected communities.
According to HYPREP, the Federal Government formally launched the Ogoni clean-up in 2016, while the Project Coordination Office was established in 2017 to drive the implementation of UNEP’s recommendations.
Zabbey said the current administration has continued to prioritise the project under the Renewed Hope Agenda.
Providing an update on the cleanup, the Project Coordinator disclosed that 30 of the 65 contaminated sites identified by UNEP have been fully remediated, while work is ongoing at several medium- and high-risk locations. It also stated that more than 1.5 million mangrove seedlings have been planted as part of what it described as the world’s largest restoration of oil-degraded mangroves, with over 1,000 hectares of shoreline already rehabilitated.
Zabbey further revealed that 49 Ogoni communities have been connected to potable water schemes through multiple water projects and booster stations aimed at providing safe drinking water across the region.
In the health sector, he said the 100-bed Ogoni Specialist Hospital in Kpite and the 43-bed Cottage Hospital in Buan are nearing completion, adding that several existing health facilities have been upgraded with modern medical equipment, while five ambulances have been donated to improve emergency healthcare services. The Project Coordinator also disclosed that a three-year human health biomonitoring study is being conducted in collaboration with the World Health Organization’s International Agency for Research on Cancer (IARC).
On economic empowerment, Zabbey stated that the Project has created more than 8,000 direct jobs and trained thousands of Ogoni youths and women in various vocational and technical skills, including software development, cybersecurity, aviation, commercial diving, seafaring, mechatronics, and creative arts. The project also reported awarding scholarships to more than 1,000 students, providing grants to small businesses, and supporting persons living with special needs through skills acquisition programmes.
The statement further highlighted ongoing legacy projects, including the Ogoni Power Project and the Centre of Excellence for Environmental Restoration, which it said is about 96 per cent complete. HYPREP also welcomed the recent designation of the Ogoni Wetland as a Ramsar Site of International Importance and pledged to continue promoting biodiversity conservation and sustainable management of the ecosystem.
Marking the anniversary, Zabbey said the progress achieved over the past 15 years demonstrates the collective commitment of government, development partners, stakeholders, and local communities to restoring Ogoniland. He called for renewed collaboration to sustain the cleanup effort, promote environmental sustainability, and support the long-term development of the region. 3
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