Domestic Companies

NNPC

Nigerian National Petroleum Corp. (NNPC) is the state oil and gas company which holds a dominant stake in upstream operations through joint ventures. The organisation has 12 business units spanning the upstream, midstream and downstream sections of the oil and gas industry. Persistent lack of transparency into the workings and accounts of the organisation was a key trigger behind the Petroleum Industry Bill, which seeks to overhaul the company and strip it down into transparent and differently managed arms.

In June 2012, President Goodluck Jonathan retired the entire NNPC management team, led by Austen Oniwon. Andrew Yakubu replaced Oniwon as group managing director. The company is regulated by the Department of Petroleum Resources (DPR) within the Ministry of Petroleum Resources. The DPR and the National Investment Management Services business unit of NNPC play a crucial role in day-to-day activities of the industry.

NGC

Nigerian Gas Co. (NGC) was established in 1988 as a subsidiary of NNPC that specialises in gas distribution. It is responsible for managing the country’s integrated gas pipeline network and exporting gas to the sub-region through the West African Gas Pipeline. The company gathers, treats, transmits and markets gas and gas by-products to major industrial and utility gas distribution companies in Nigeria and neighbouring countries.

Nigeria LNG

Nigeria LNG is one of the 12 business units of NNPC and operates the Nigeria LNG facility on Bonny Island. It was incorporated as a subsidiary of NNPC in 1989. It has two subsidiaries that provide shipping services and personnel for the company’s vessels. The company sources the feedstock for the facility and sells the products based on long-term contracts.

Page updated: 12/07/2013