‎‎Florence Petroleum Expands Cross-Border Oil Trading Operations Between UK, Nigeria ‎ ‎

Florence Petroleum Ltd, a United Kingdom-registered oil and gas trading company with operational ties in Nigeria, has continued to strengthen its footprint in the downstream petroleum sector through cross-border fuel trading, marine logistics and strategic property-backed financing arrangements.

‎Corporate records show that the company operates as an active private limited entity registered in England under Company Number 12965917, with its headquarters located at Suite 3 Peel House, 30 The Downs, Altrincham, England.

‎ The company, incorporated in the United Kingdom on October 21, 2020, is principally engaged in support activities for petroleum and natural gas extraction as well as wholesale trading of petroleum products.

‎The firm is controlled by Nigerian businessman, Dr Okechukwu Henry Obi, who holds at least 75 per cent of the company’s shares and voting rights, according to corporate filings.

‎Beyond its UK operations, Florence Petroleum maintains a strong operational presence in Nigeria through its downstream trading activities based in Lekki Phase 1, Lagos.

‎Industry sources indicate that the company procures refined petroleum products offshore, particularly from the Lome and other West African coastal markets, before distributing them into Nigeria through marine logistics and third-party storage arrangements.

‎The company reportedly adopts a Ship-to-Ship (STS) transfer model in offshore locations around Cotonou, Benin Republic, and Lomé, Togo, where refined petroleum products are transferred from larger international tankers to smaller coastal vessels for delivery into Lagos ports.

‎Once products arrive in Nigeria through Apapa or Tin Can Island ports, Florence Petroleum utilises throughput storage facilities at various tank farms for onward distribution into the domestic market.

‎Financial filings from the United Kingdom indicate that the company operates as a medium-sized enterprise with an annual turnover exceeding £75 million and a balance sheet estimated at over £30 million.

‎Corporate records further reveal that the company maintains active reporting obligations and regularly files medium-entity accounts in line with UK statutory regulations.

‎The company is also involved in property investment and real estate management, registering additional business interests under property acquisition and leasing classifications.

‎Investigations further showed that Florence Petroleum maintains ownership interests in several property assets in the United Kingdom, which serve as part of its financial security structure.

‎As part of its financing arrangements, the company registered an active legal charge in March 2023, believed to be tied to trade finance facilities used to support bulk petroleum importation and international transactions.

‎Industry analysts explained that such security arrangements are common in downstream oil trading, where financial institutions provide letters of credit and working capital for the importation of petroleum products.

‎In Nigeria, the company reportedly works closely with Ecumenical Investment and Development Company Ltd (EIDCL), a Lagos-based downstream operator that manages domestic logistics, tank farm arrangements, regulatory compliance and local distribution.

‎The partnership is said to support Florence Petroleum’s supply chain operations within Nigeria’s downstream petroleum market.

‎Observers note that the company’s structure reflects a growing trend among energy trading firms leveraging cross-border financing, marine logistics and asset-backed facilities to sustain fuel supply operations across West Africa.

‎The development comes amid increasing competition and reforms within Nigeria’s downstream petroleum sector following the deregulation of the fuel market and the expansion of regional petroleum trade corridors.