OS PETRO and KAFRA CORE OIL TRADING Sign Joint Venture Agreement

Partnership to Source and Trade Bonny Light Crude Oil and Refined Petroleum Products, Leveraging Ghana's Ports

Mar. 10, 2026 at 3:34pm

Got story updates? Submit your updates here. ›

OS PETRO Inc. and KAFRA CORE OIL TRADING FZCO have signed a joint venture agreement to engage in the sourcing and trading of Nigerian Bonny Light Crude Oil (BLCO) and refined petroleum products. The partnership aims to leverage Ghana's strategic location and port infrastructure to meet the growing global demand for premium crude oil and expand access across West Africa.

Why it matters

The joint venture between OS PETRO and KAFRA CORE OIL TRADING represents a significant development in the oil trading industry, as it brings together two industry leaders to capitalize on the rising global demand for Bonny Light Crude Oil. By utilizing Ghana's ports and infrastructure, the partnership is poised to deliver reliable supplies to buyers worldwide and contribute to the growth of the energy sector in West Africa.

The details

The agreement outlines a collaborative framework for sourcing, marketing, and trading Bonny Light Crude Oil and refined petroleum products. OS PETRO and KAFRA will combine their expertise, resources, and networks to ensure operational efficiency, quality standards, and expanded market access. The partnership aims to leverage Ghana's strategic location and advanced port infrastructure, particularly the Port of Tema, to facilitate the movement of crude oil and refined products.

  • The joint venture agreement was signed on March 10, 2026.

The players

OS PETRO Inc.

An oil and gas company focused on the sourcing and trading of crude oil and refined petroleum products.

KAFRA CORE OIL TRADING FZCO

A leading oil trading company specializing in the sourcing and trading of crude oil and refined products.

Michael Joseph Sutton

President of OS PETRO Inc.

Jose Mateo Eguiguren

CEO and Managing Director of KAFRA CORE OIL TRADING FZCO.

Ghana's Port of Tema

A strategic hub for the joint venture's operations, offering efficient logistics, deep-water access, and streamlined customs procedures.

Got photos? Submit your photos here. ›

What they’re saying

“We are thrilled to embark on this joint venture with KAFRA CORE OIL TRADING FZCO. This partnership marks a significant milestone for OS PETRO, not only in strengthening our global footprint but also in securing valuable financial returns for our stakeholders.”

— Michael Joseph Sutton, President of OS PETRO Inc.

“Kafra Core Oil Trading is proud to formalize this joint venture with OS Petro Inc. Our combined capabilities in crude oil sourcing, trade finance structuring, and exit execution to qualified international off-takers position this partnership to deliver institutional-grade trading operations for Bonny Light Crude Oil.”

— Jose Mateo Eguiguren, CEO and Managing Director of KAFRA CORE OIL TRADING FZCO

What’s next

The joint venture partners plan to leverage Ghana's strategic location and port infrastructure to expand their reach across West Africa and beyond, providing consistent supply channels for Bonny Light Crude Oil and refined petroleum products to international buyers.

The takeaway

The strategic partnership between OS PETRO and KAFRA CORE OIL TRADING represents a significant development in the oil trading industry, as it combines the expertise and resources of two industry leaders to capitalize on the growing global demand for premium crude oil, particularly Bonny Light Crude Oil, and expand access to key markets across West Africa and beyond.