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The Nigerian National Petroleum Company (NNPC) Limited is a state-owned oil company in Nigeria. Still a fully-owned government company, it was transformed from a corporation into a limited liability company in July 2022. [1] NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
The NNPC had been buying petrol from Dangote Refiner at ₦898.78 per litre and selling to marketers at ₦765.99 per litre, shouldering a subsidy of almost ₦133 per litre. Following the NNPC's withdrawal as the sole off-taker, subsidies ceased to exist in Nigeria as marketers had to buy directly from Dangote and sell at cost price, adding ...
The company is a subsidiary of the Nigerian National Petroleum Corporation (NNPC). [ 3 ] Located in Alesa Eleme just to the southeast of Port Harcourt , the company operates two oil refineries, including an old plant commissioned in 1965 that can process 60,000 barrels (9,500 m 3 ) per stream day, as well as the new plant commissioned in 1989 ...
The Warri Refining and Petrochemicals Company Limited (WRPC) is situated in Warri, within Delta State, Nigeria, and began operations in 1978.This facility is a sophisticated conversion refinery, with a distillation capacity of 6,250,000 metric tons annually (equivalent to 125,000 barrels per day).
The department became the MPR in 1975. In 1977, the Nigerian National Petroleum Corporation (NNPC) was formed by the decree 33 of 1977 through the merger of MPR and NNOC. It also, led to the creation of Petroleum Inspectorate, the industry regulator. In 1985, the MPR was carved out of NNOC while NNPC remains.
U.S. natural gas prices were relatively stable at around (2006 US) $30/Mcm in both the 1930s and the 1960s. Prices reached a low of around (2006 US) $17/Mcm in the late 1940s, when more than 20 percent of the natural gas being withdrawn from U.S. reserves was vented or flared.
The pipeline is to be built and operated by the partnership between the NNPC and Sonatrach. The company would include also the Republic of Niger. [3] Initially NNPC and Sonatrach would hold a total 90% of shares, while Niger would hold 10%. [15] Russian gas company Gazprom has negotiated with Nigeria about its possible participation in the project.
In 2007, he was appointed the coordinator of special projects, which included oversight of all the company’s federal government projects. He served as Group Managing Director (GMD) of NNPC from January 2009 to April 2010. [5] In 2010, Barkindo moved to Washington, D.C. [6] He was a research fellow at George Mason University from 2014 to 2016. [1]