NNPC signs MoU with Russian oil company, Lukeoil
Written by Taiwo Adediran on October 25, 2019
Nigeria and Russia has signed an important Memorandum of Understanding (MoU), which will enable both countries’ oil giants, Nigerian National Petroleum Corporation (NNPC) and Russia’s Lukeoil to elevate commercial relationship to a government-to-government backed partnership.
With the signing of the MoU, NNPC and Lukeoil will work together in upstream operations and revamp Nigeria’s refineries. Group Managing Director of NNPC, Mele Kyari and Vagit Alekperov, President of leading Russian oil company, Lukeoil, signed the MoU, on the sidelines of the Russia-Africa Summit, on Thursday.
Earlier in his remarks at a meeting with Russian President Vladimir Lenin, President Muhammadu Buhari said Nigeria is prepared and willing to work with Russian businesses to improve the efficiency of her oil and gas sector which provides the country with the much-needed capital to invest, builds infrastructure and implement economic diversification programs.