Nigeria's Oando has signed a long - awaited deal with Swiss trading giant Vitol and Africa - focused private equity firm Helios Investment to form a downstream and retail joint venture in Nigeria, sub - Saharan Africa's second largest oil product market after South Africa. The agreement, originally announced in June 2015 to much fanfare, differs from last year's version in several respects, reflecting the tough low oil price environment and the financial difficulties that have rocked Oando and other Nigerian players as a result.
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