NNPC signs memorandum with Russia’s Lukoil

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President Buhari and President Putin sign bilateral agreements in Sochi, Russia
President Buhari and President Putin sign bilateral agreements in Sochi, Russia

Nigerian National Petroleum Corporation (NNPC) has signed a memorandum of understanding with Russian oil company Lukoil for potential cooperation in oil production, trading and refining, Lukoil said on Thursday.

Mele Kyari, head of Nigeria’s state oil firm, signed the memorandum during a visit to the Russian city of Sochi during a Russia-Africa Summit.

NNPC also engaged Russian state owned company and private entities to secure development cooperation of mutual benefit. Refinery rehabilitation and gas infrastructure development on the front burner.