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May 03, 2015 8:39 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Nigerian National Petroleum Corporation

Company Overview

Nigerian National Petroleum Corporation, along with its subsidiaries, is engaged in exploration, refining, petrochemicals, products transportation, and marketing activities. The company is engaged in upstream activities, including exploration, oil production, and gas production, as well as the management of the exploration bidding rounds for oil and gas. It also undertakes Greenfield refinery projects; operates refineries and produces petrochemicals; offers Master-Plan, a guide for the commercial exploitation and management of Nigeria’s gas sector; produces commercial in-country bio-fuels in partnership with core investors; and provides engineering and technology services, including informat...

NNPC Towers

Central Business District

Herbert Macaulay Way

P.M.B. 190, Garki

Abuja,  

Nigeria

Founded in 1971

Phone:

234 9 2348200 17

Fax:

234 9 413 0198

Key Executives for Nigerian National Petroleum Corporation

Group Executive Director of Finance & Accounts, Deputy Group Managing Director and Group Executive Director
Managing Director of Hyson
Managing Director of IDSL
Managing Director of PHRC
Managing Director of NGC
Compensation as of Fiscal Year 2014.

Nigerian National Petroleum Corporation Key Developments

Federal High Court Orders Nigerian Agip Oil Company Limited's Managing Director to Appear on April 27, 2015

A Federal High Court in Port Harcourt has granted leave to Arco Group Plc to serve notice of consequences of disobedience to order of the court to the Managing Director of the Nigerian Agip Oil Company Limited (NAOCL), Mr. Insula Massimo through substituted means. The court also ordered the respondents to appear in court on April 27, 2015 to show cause why the order sought shall not be granted. The court said the notice, which is known as Form 48 be published in two national dailies, namely, The Guardian and Thisday Newspapers. It also ordered that same be pasted at the head office of Plantgeria Company Limited, which is at Plot 278, Trans Amadi Industrial Layout, Port Harcourt, Rivers State. The trial judge, Lambo Akanbi also said that leave be and is hereby granted to the applicant to serve the notice of consequences of disobedience to order of court (form 48) and all other subsequent processes on the managing director of Plantgeria Company Limited by substituted means. The order emanated from a suit filed by Arco against Nigerian Agip Oil Company Limited, Nigeria National Petroleum Corporation (NNPC), Conoco Philips Petroleum Nigeria Limited and National Petroleum Investment Management Services (NAPIMS) over alleged violation of a section of the Nigeria Oil and Gas Industry Content Development Act, 2010. According to an affidavit of facts showing disobedience by first defendant of order of injunction made on February 3, 2015 deposed to by the plaintiffs team leader in OB/OB Kwale and Ebocha, Pius Onodjohwo, the first defendant is in alleged defiance of the said court injunction restraining them from awarding contract to any organisation pending the determination of plaintiffs motion on notice for interlocutory injunction. The court had earlier granted a restraining injunction against the award of contract in the disputed plants.

The Nigerian National Petroleum Corporation Plans to Establish Additional Outlets to Sell CNG

The Nigerian National Petroleum Corporation (NNPC) is planning to establish additional outlets to sell Compressed Natural Gas (CNG) to users of cars that run on such gas. The plan became imperative to enable users get the product to fuel their cars. NNPC had initiated a pilot scheme on the use of compressed natural gas for cars in Benin City, the Edo State capital, which proved to be successful.

Nigerian National Petroleum Corporation Appoints Bernard O.N. Otti as New Deputy Group Managing Director

Nigerian National Petroleum Corporation sanctioned the creation of a new office of Deputy Group Managing Director of the corporation to be led by Mr. Bernard O.N. Otti, in a firm attempt at repositioning the corporation into a commercially driven entity. Otti the current Group Executive Director of NNPC, is now the new Deputy Group Managing Director/Group Executive Director (Finance and Accounts) of the corporation. The new office of Deputy Group Managing Director is predicted to reinforce the corporate governance structure of the NNPC.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 30, 2014
Brass LNG Limited
 

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