Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >Nigeria's NNPC, Stena Bulk and Caverton launch new shipping venture
    Finance

    Nigeria's Nnpc, Stena Bulk and Caverton Launch New Shipping Venture

    Published by Global Banking & Finance Review®

    Posted on February 25, 2025

    1 min read

    Last updated: January 25, 2026

    Add as preferred source on Google
    The image depicts the logo of Norway's Sovereign Fund, which plans to divest from Israeli companies due to the ongoing humanitarian crisis in Gaza. This decision reflects ethical investment practices and highlights the fund's significant influence in global finance.
    Norway's sovereign fund logo reflecting divestment from Israeli stocks amid Gaza conflict - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Tags:partnershipTransportation Sectoroil and gasinvestmentlogistics

    Quick Summary

    NNPC teams up with Stena Bulk and Caverton Marine to launch a new shipping venture, enhancing crude oil and LNG transport in West Africa.

    NNPC Partners with Stena Bulk and Caverton to Launch Shipping Venture

    By Isaac Anyaogu

    LAGOS (Reuters) - Nigeria's state oil firm 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.

    The companies did not share financial details of the deal, which was signed last week.

    "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.

    (Reporting by Isaac Anyaogu; Editing by Kirsten Donovan)

    Key Takeaways

    • •NNPC partners with Stena Bulk and Caverton Marine.
    • •The venture aims to improve maritime transport in West Africa.
    • •Focus on crude oil, refined products, and LNG shipping.
    • •No financial details of the deal were disclosed.
    • •The partnership strengthens Nigeria's global energy logistics.

    Frequently Asked Questions about Nigeria's NNPC, Stena Bulk and Caverton launch new shipping venture

    1What companies are involved in the new shipping venture?

    The new shipping venture involves Nigeria's NNPC, Swedish tanker giant Stena Bulk, and Nigerian offshore logistics leader Caverton Marine.

    2What is the purpose of the joint venture?

    The joint venture aims to streamline crude oil, refined products, and LNG shipping across West Africa and cater to other oil producers and traders in the region.

    3What did Erik Hånell say about the partnership?

    Erik Hånell, President & CEO of Stena Bulk, stated that the partnership aligns with the group's strategy to expand its presence in key growth markets.

    4What percentage of global LNG demand does Nigeria meet?

    Nigeria meets 5% of global LNG demand and boasts Africa's largest oil refinery.

    5Were any financial details of the deal disclosed?

    The companies did not share financial details of the deal, which was signed last week.

    More from Finance

    Explore more articles in the Finance category

    Image for Barclays pulls back on asset-based lending after MFS, Tricolor collapse, Bloomberg News reports
    Barclays Pulls Back on Asset-Based Lending After Mfs, Tricolor Collapse, Bloomberg News Reports
    Image for German chemical union delays wage hikes as war worsens business outlook
    German Chemical Union Delays Wage Hikes as War Worsens Business Outlook
    Image for Germany renews push for sugar tax and energy drinks ban for children
    Germany Renews Push for Sugar Tax and Energy Drinks Ban for Children
    Image for Bank of England's Greene says she was not close to raising rates this month
    Bank of England's Greene Says She Was Not Close to Raising Rates This Month
    Image for UK review urges cap on overseas political donations and pause on crypto
    UK Review Urges Cap on Overseas Political Donations and Pause on Crypto
    Image for 5 Smart Tips to Save on Fees When You Send Money Abroad
    5 Smart Tips to Save on Fees When You Send Money Abroad
    Image for Spain's Sanchez says global citizens shouldn't pay for fallout of Iran war
    Spain's Sanchez Says Global Citizens Shouldn't Pay for Fallout of Iran War
    Image for Aer Lingus sees serious risk of US retaliation over Dublin airport cap
    Aer Lingus Sees Serious Risk of US Retaliation Over Dublin Airport Cap
    Image for Hapag-Lloyd faces $40-50 million costs weekly due to Iran war, CEO tells ntv
    Hapag-Lloyd Faces $40-50 Million Costs Weekly Due to Iran War, CEO Tells Ntv
    Image for Endesa CEO to leave position after 12 years
    Endesa CEO to Leave Position After 12 Years
    Image for UK and Turkey sign multi-billion-pound air defence deal
    UK and Turkey Sign Multi-Billion-Pound Air Defence Deal
    Image for ECB still set to hold interest rates through 2026, most economists say: Reuters poll
    ECB Still Set to Hold Interest Rates Through 2026, Most Economists Say: Reuters Poll
    View All Finance Posts
    Previous Finance PostSterling Steady Before Bank of England Economist Remarks
    Next Finance PostIran Will Not Yield to U.S. 'pressure and Sanctions' on Nuclear Dispute