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November 29, 2015 1:19 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Nigerian National Petroleum Corporation

Company Overview

Nigerian National Petroleum Corporation engages in oil and gas exploration, production, refining, transportation, and marketing activities. It also offers distribution/trading, commercial investment management, seismic data acquisition, seismic data processing, reservoir engineering, data storage and management, geophysical, geological, packaging products manufacturing, renewable energy sources exploration, engineering, procurement, construction supervision, project management, quality assurance and control, environmental consulting, training, and transmission activities. The company provides petroleum and petrochemical products, crude oils (to refineries), hydrocarbons, premium motor spirit...

NNPC Towers

Central Business District

Herbert Macaulay Way

P.M.B. 190, Garki

Abuja,  00234


Founded in 1971


234 9 2348200 17


234 9 413 0198

Key Executives for Nigerian National Petroleum Corporation

Group Managing Director
Group Executive Director for Finance & Services
Managing Director of Hyson
Managing Director of IDSL
Managing Director of PHRC
Compensation as of Fiscal Year 2015.

Nigerian National Petroleum Corporation Key Developments

Nigerian National Petroleum Corporation Presents at Platts 2nd Annual African Refining Summit 2015, Nov-16-2015 through Nov-17-2015

Nigerian National Petroleum Corporation Presents at Platts 2nd Annual African Refining Summit 2015, Nov-16-2015 through Nov-17-2015. Venue: One&Only Cape Town, Dock Road, Victoria & Alfred Waterfront 8001, Cape Town, South Africa. Presentation Date & Speakers: Nov-16-2015, Anthony Ogbuigwe, Former Group Executive Director, Refineries &, Victor Adeniran, Group Executive Director, Commercial & Investment. Nov-17-2015, Anthony Ogbuigwe, Former Group Executive Director, Refineries & Petrochemicals.

NNPC May Sell Refineries That Don't Meet Ultimatum On Rehabilitation

Nigerian National Petroleum Corporation says it may sell refineries that fail to work optimally by the expiration of the 90-day ultimatum for their rehabilitation.

Nigerian National Petroleum Cancels Previously Signed Offshore Processing Agreements with Duke Oil Company, Aiteo Energy Resources, and Sahara Energy Resources

The Nigerian National Petroleum Corporation (NNPC) has cancelled its previously signed offshore processing agreements (OPAs) with the Duke Oil Company, Aiteo Energy Resources, and Sahara Energy Resources (Nig). Under the terms of the agreements signed with the three companies in January, the company allocated a total of 210,000 barrels of crude oil per day for refining at offshore locations. This would be in exchange for petroleum products at yield pattern, which was agreed earlier. The NNPC said: 'After detailed appraisal of the operation and its terms of agreement, the NNPC is convinced that the current OPA is skewed in favour of the companies, such that the value of product delivered is significantly lower than the equivalent crude oil allocated for the programme'. According to the company's observations, the delivery terms were not optimal, due to which the structure of the agreement does not guarantee unimpeded petroleum products supply. The company said it has commenced the process of establishing alternative OPAs based on an optimum yield pattern, with tender processing fees in a bid to address these lapses. NNPC firm has decided to deploy its subsidiary NIDAS Marine Limited to carry out the crude delivery service on a negotiated industry standard rate, as a temporary solution.

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