Nigerian National Petroleum Corporation (NNPC) and its functions are listed in this article. We do hope you find it helpful and informative.
Nigerian National Petroleum Corporation (NNPC)
Functions of NNPC
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When you talk about Crude oil in Nigeria, the first agency to mention is always the Nigerian National Petroleum Corporation (NNPC). The NNPC was formed, created, and established on the first day of April 1977.
The primary mission of the corporation was the exploration of oil within the country and in addition to this responsibility, they were also given the power and operational interest to refine petrochemical product transportation as well as effective marketing.
To prove her functionality, between 1978 and 1989, the corporation built refineries in places like Kaduna, Port Harcourt, and Warri.
They also took over the 35,000 barrel refinery which belonged to Shell in Port Harcourt in 1965 Exactly 11 years after its inception, the corporation became commercialized into some other business units which cover the entire range of oil industry operations; gas development, refining, exploration, and distribution; petrochemicals, engineering as well as other commercial investments which includes; National Engineering and Technical Company Limited (NETCO), Duke Oil, Hydrocarbon Services Nigeria Limited (HYSON), Nigeria Gas Company (NGC), NNPC Retail Limited, Integrated Data Services Limited (IDSL), Warri Refining and Petrochemical Company Limited (WRPC), Port Harcourt Refining Company Limited (PHRC), Kaduna Refining and Petrochemical Company Limited (KRPC), Nigerian Petroleum Development Company (NPDC), National Engineering and Technical Company Limited (NETCO), Pipelines and Products Marketing Company (PPMC).
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In 2016, in a bid to become a global company, two of the companies (PPMC and NGC) were restructured and reorganized to birth some new other commercial bodies in order to enhance their effectiveness.
The companies that were birthed are; Gas and Power Investment Company (GPIC), Nigerian Pipelines and Storage Company (NIPSC), Nigerian Gas and Marketing Company (NGMC), Nigerian Products and
Marketing Company (NPMC), Nigerian Gas Processing and Transmission Company (NGPTC)
Nigerian National Petroleum Corporation (NNPC) aims to be a world-class oil and gas company that is driven by a collective commitment to excellence.
The mission of the corporation being an integrated oil and gas company is to constantly engage in adding value to the hydrocarbon resources of the nation for the maximum benefit of all stakeholders as well as Nigerians.
The corporation holds to heart that if it must attain the greatest possible height, it must guide itself with some core values which include; respect for people on an individual basis, ensuring the growth and development of their staff, standing for the truth, transparency, and accountability and also Profession Excellence.
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Functions of Nigerian National Petroleum Corporation (NNPC)
In accordance with the provisions of the Act guiding the NNPC, the Corporation is charged to;
- Exploring and prospecting for, working, winning, or otherwise Acquiring, possessing, and disposing of Petroleum.
- Refine, treat, process, and ultimately engage in the handling of Petroleum to enhance the manufacturing and production of Petroleum products and all that is gotten from it.
- Buying and selling products derived from petroleum, its products, and all other products got from it.
- Provide and operate pipelines, tanker ships as well as other facilities and equipment that are necessary for the conveying of crude oil, natural gas, and their products or all gotten from it, water, any other liquids, or other products related to the things that the corporation does.
Construct, equip and maintain tank farms and other tools used to handle and treat products of petroleum.
Carry out researches that are connected with petroleum or anything that is gotten from it and promote activities for the purpose of establishing an account of the result of such research.
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Doing things that are aimed at enhancing the petroleum industry for the overall interests of Nigerians as a whole.
Taking every other necessary action that will support and encourage the petroleum industry and also speed up the fulfillment of the NNPC Act.
