Florence Petroleum Ltd, a United Kingdom-registered oil and gas trading company with operational links to Nigeria, has continued to expand its presence in the downstream petroleum sector through cross-border fuel trading, marine logistics, and strategic asset-backed financing arrangements.
Corporate records indicate 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, which was incorporated on October 21, 2020, is primarily engaged in support services for petroleum and natural gas extraction, alongside the wholesale trading of petroleum products.
According to corporate filings, Florence Petroleum is controlled by Nigerian businessman, Dr Okechukwu Henry Obi, who holds no less than 75 per cent of the company’s shares and voting rights.
Beyond its operations in the United Kingdom, the company maintains a significant footprint in Nigeria through downstream petroleum trading activities based in Lekki Phase 1, Lagos.
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Industry sources revealed that Florence Petroleum sources refined petroleum products offshore, particularly from Lomé and other coastal West African markets, before distributing them into Nigeria through marine logistics and third-party storage facilities.
The company is said to operate a Ship-to-Ship (STS) transfer system around offshore locations in Cotonou, Benin Republic, and Lomé, Togo, where refined petroleum products are moved from larger international vessels to smaller coastal tankers for delivery into Lagos ports.
Upon arrival in Nigeria through Apapa and Tin Can Island ports, the products are stored in throughput facilities at various tank farms pending onward distribution into the local market.
Financial filings in the United Kingdom further show that Florence Petroleum operates as a medium-sized enterprise with an annual turnover exceeding £75 million and a balance sheet estimated at over £30 million.
Corporate disclosures also show that the company maintains active reporting obligations and consistently files medium-entity accounts in compliance with statutory regulations in the UK.
In addition to petroleum trading, the company is involved in property investment and real estate management, with registered interests covering property acquisition and leasing operations.
Investigations also revealed that Florence Petroleum holds ownership interests in several property assets within the United Kingdom, which form part of its financial security and operational structure.
As part of its financing framework, the company registered an active legal charge in March 2023, believed to be connected to trade finance facilities supporting bulk petroleum importation and international transactions.
Industry analysts noted that such financing structures are common within the downstream oil sector, where financial institutions provide letters of credit and working capital support for petroleum importation activities.
In Nigeria, Florence Petroleum reportedly collaborates closely with Ecumenical Investment and Development Company Ltd (EIDCL), a Lagos-based downstream operator responsible for domestic logistics, tank farm management, regulatory compliance, and local product distribution.
The partnership is understood to strengthen Florence Petroleum’s supply chain operations within Nigeria’s downstream petroleum market.
Observers say the company’s operational 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 ongoing reforms within Nigeria’s downstream petroleum sector following fuel market deregulation and the expansion of regional petroleum trade corridors.
