OVH Energy

The story of OVH Energy is one of strategic partnerships and consolidation in the Nigerian downstream oil sector. In 2016, Nigeria's Oando PLC divested part of its downstream operations in a partnership with Helios Investment Partners and the Vitol Group. This move created a new entity, OVH Energy, which instantly became the second-largest downstream fuels company in Nigeria. The deal was structured with Oando PLC and the Helios-Vitol consortium each taking a 49% stake, reflecting a balanced partnership aimed at leveraging local expertise and international capabilities. The company operated under the Oando brand, controlling significant assets including over 380 retail stations, storage facilities, and logistics infrastructure. The leadership team included CEO Huub Stokman, who guided the company's focus on a value-driven approach to distributing petroleum products. A pivotal chapter in the company's journey came in October 2022, when the Nigerian National Petroleum Company (NNPC) Limited acquired OVH Energy's downstream assets. This acquisition was part of NNPC's strategy to expand its retail network and strengthen its position in the downstream market. The deal brought hundreds of additional filling stations under the NNPC brand and aimed to make it the largest petroleum retail network in Africa. The integration, completed by the end of 2023, saw all OVH Energy and Oando branded stations rebranded to NNPC.