Nigerian National Petroleum Corporation

Nigerian National Petroleum Corporation

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Nigerian National Petroleum Corporation

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Description:
The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation through which the federal government of Nigeria regulates and participates in the country's petroleum industry.

History

NNPC was established on April 1, 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Chevron, and Texaco (though now merged with Chevron). Through collaboration with these companies, the Nigerian government conducts petroleum exploration and production. The head of the Nigerian wing of Transparency International says salaries for workers are too low to prevent graft.

As of September 2007, Nigerian President Umaru Yar'Adua plans to split the company into five new companies.

The NNPC Towers in Abuja is the Headquarters of NNPC. It is made up of four identical towers. It is located on Herbert Macaulay Way, Central Business District Abuja. NNPC also has zonal offices in Lagos, Kaduna, Port Harcourt and Warri. There is also an International office located in London, United Kingdom

In May 2009, the NNPC indicated that the Niger delta unrest, had no impact on its business despite fights between government forces and rebels in this oil producing area.

Installations

NNPC has sole...
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