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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 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.
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 ...
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1979: In an effort to establish further control over the industry, the government merges and restructures the NNOC and the Ministry of Petroleum to form the Nigerian National Petroleum Corporation, an entity which would exert more power over the allocation and sale of concessions than the NNOC. By 1979, the NNPC had also gained 60% ...
Mele Kolo Kyari OFR (born 8 January 1965) is a Nigerian geologist, crude oil marketer and 1st Group Chief executive officer (GCEO) of the Nigerian National Petroleum company limited (NNPC Limited). Before this appointment, Kyari was the Group General Manager, Crude Oil Marketing Division of the NNPC and the Nigerian National Representative at ...
After the conclusion of the NNPC's account audit, it was announced in January 2015 that NNPC's non-remitted revenue is actually US$1.48 billion, which it needs to refund to the government. [59] Upon the release of both the PwC and Deloitte report by the government at the eve of its exit, it was however determined that truly close to $20 billion ...
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