What 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.

What 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.

What 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.

What percentage of global LNG demand does Nigeria meet?

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

Were any financial details of the deal disclosed?

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

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Home > Finance > 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

Nigeria's NNPC, Stena Bulk and Caverton launch new shipping venture

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NNPC Partners with Stena Bulk and Caverton to Launch Shipping Venture

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