NNPC Facts PDF

GENERAL FACTS WHY NNPC WAS FOUNDED - To harness the possibilities of oil and gas, to address energy demand and drive the national economy. Established: NNPC was formed in 1977 as a state-owned oil corporation to oversee Nigeria's petroleum resources. Transition to NNPC Limited: In 202...

GENERAL FACTS WHY NNPC WAS FOUNDED - To harness the possibilities of oil and gas, to address energy demand and drive the national economy. Established: NNPC was formed in 1977 as a state-owned oil corporation to oversee Nigeria's petroleum resources. Transition to NNPC Limited: In 2021, the Petroleum Industry Act (PIA) mandated its transformation into a commercially-driven company. By September 2021, the Corporate Affairs Commission completed its incorporation as NNPC Limited. Unveiling: Officially launched as NNPC Limited by President Muhammadu Buhari on July 19, 2022. OPEC (Organization of the Petroleum Exporting Countries) is an intergovernmental organization founded in 1960 by five original members: Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. It now has 13 member countries, including Nigeria. OPEC was created to coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets to secure a steady income for oil-producing countries.  Nigeria joined OPEC in 1971 as the 10th member No. 1 Oil producer and supplier in Africa A total workforce of 7000+ Over 47 years of experience the energy market leader for Africa’s largest economy  NNPC SLOGAN: “Energy for Today, Energy for Tomorrow” NNPC Limited is a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain. NNPC’s mandate is to create an energy business that is: sustainable, resilient, and efficient. Vision: To be the dynamic global energy company of choice Mission: Reliably delivering energy while continuously creating value for all stakeholders Values: integrity, excellence and sustainability Strategy: focused on growing our global energy delivery capacity ❖ “We will continue to promote environmental sustainability through our long-term decarbonisation programme and quality investments in new energy sources such as solar and biofuels” Our guiding principles are the United Nations Sustainable Development Goals, particularly SDG7 (to ensure access to affordable, reliable, sustainable and modern energy for all); and our commitments to implementation of Nigeria’s Nationally Determined Contribution under the UNFCCC Paris Accord (reduce emissions by 20% unconditionally and 45% conditionally by 2030, end gas flaring by 2030 and ensure 30% energy efficiency by 2030) WHAT WE DO = Liquid hydrocarbon: We are enhancing our liquid hydrocarbon production while creating new energy businesses Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, yesterday said the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline (NMGP) Project will be taken in December 2024. This aims to supply gas to about 11 African countries and transport it from Morocco to Europe HISTORY: began with the discovery of oil in commercial quantity at Oloibiri, Bayelsa state (1956) This discovery eventually led to the formation of the Nigerian National Oil Corporation (NNOC) as the National Oil Company of Nigeria. (1971)  In the same year (12 July 1971), Nigeria joined the Organisation of the Petroleum Exporting Countries (OPEC) as its tenth member. On April 1st, 1977, the Nigerian National Petroleum Corporation (NNPC) was formed by merging NNOC, with its operational functions, and the Federal Ministry of Mines & Power, with its regulatory responsibilities. August 16th, 2021 - the Petroleum Industry Act (PIA) signing. September 2021 - The enactment of the PIA, an omnibus legislation overhauling the Nigerian Oil & Gas Industry, heralded the birth of a new Corporate entity, the NNPC Ltd., which was incorporated as a Limited Liability Company. Under the PIA, the Company is free to operate in different sectors of the global energy industry and pursue other commercially viable ventures that will guarantee value to all its stakeholders. LEADERSHIP: Board of Directors: Non-Executive Board Chairman - Pius Akinyelure (Date of reappointment to the Board: December 1, 2023) Group Chief Executive Officer - Mele Kolo Kyari (joined NNPC as a Seismic Data Processing Geophysicist in the Data Processing Department of Integrated Data Services Limited (IDSL) in 1992.) Chief Financial Officer - Adedapo A. Segun (joined NNPC Limited as Treasurer in April 2016) Non-Executive Director ❖ Mr Ledum Mitee (Date of appointment to the Board: December 1, 2023) ❖ Mr. Kashim Tumsah ❖ Dr. Ghali Mohammed ❖ Prof. Almustapha Aliyu ❖ Mr. David Ogbodo ❖ Mrs. Eunice Thomas ❖ Amb. Nicholas Agbo Ella ❖ Mrs. Lydia Shehu Jafiya General Counsel/Company Secretary - Chidi O. Momah Senior Management Team Mele Kolo Kyari - Group Chief Executive Director Adedapo A. Segun - Chief Financial Officer Olalekan Ogunleye - Executive Vice President, Gas, Power & New Energy Udobong Ntia - Executive Vice President, Upstream Isiyaku Abdullahi - Executive Vice President, Downstream Danladi A. Inuwa - Executive Vice President, Business Services Chidi O. Momah - General Counsel/Company Secretary The NNPC RTI stands for Research, Technology, and Innovation. This division within the Nigerian National Petroleum Company (NNPC) focuses on fostering technological advancements, promoting innovation, and supporting research initiatives to enhance the efficiency and sustainability of Nigeria's oil and gas industry NNPC Current Affairs answers from chatgpt a) NNPC Limited NNPC adopted the structure of NNPC Limited after the Petroleum Industry Act. a) Morocco In 2023, NNPC partnered with Morocco for a gas pipeline project aimed at Europe. a) Solar NNPC’s sustainable energy initiative focuses on solar energy. b) Petroleum Industry Act The NUPRC was established under the Petroleum Industry Act. c) 10 billion NNPC’s gas production goal is to reach 10 billion cubic feet per day by 2025. c) Abuja NNPC's Corporate Headquarters is in Abuja. b) Environmental sustainability NNPC's new operational model emphasizes environmental sustainability. c) International Renewable Energy Agency NNPC collaborates with the International Renewable Energy Agency for renewable energy initiatives. d) PPMC PPMC (Pipelines and Product Marketing Company) focuses on petroleum product marketing. b) Gas supply to Europe The Nigeria-Morocco Gas Pipeline aims to supply gas to Europe. d) 25% NNPC targets a 25% reduction in operational costs by 2025. b) Flare Gas Recovery Initiative NNPC’s major initiative to curb gas flaring is the Flare Gas Recovery Initiative. b) Delta NNPC plans to develop a refinery in Delta State. b) Bonga NNPC's joint venture with TotalEnergies is focused on the Bonga oil field. b) Storage and export of crude oil Crude Oil Terminals are used for storage and export of crude oil. b) Nigerian Content Development and Monitoring Board This initiative promotes local content in the oil and gas industry. a) North NNPC is expanding operations in the North to enhance oil production. c) Shell Shell is a key partner in NNPC’s upstream projects. b) 200,000 bpd The expected capacity for NNPC’s new refinery is 200,000 barrels per day. d) 2030 NNPC plans to transition to renewable energy by 2030. b) 3 million barrels per day The goal is to reach 3 million barrels per day by 2025. c) Petroleum refining and marketing The NMDPRA oversees petroleum refining and marketing. d) Green Energy Strategy NNPC’s alternative energy program is called the Green Energy Strategy. b) Microsoft NNPC partnered with Microsoft for its digital transformation. a) Jet fuel NNPC is working to enhance local jet fuel production. b) Chad Basin Significant oil exploration is planned in the Chad Basin. b) Niger NNPC announced a new pipeline linking Nigeria to Niger. Currently, its Nigeria to Morocco d) All of the above The Refinery Roadmap includes all the listed strategies. a) Climate change Investment in renewable energy is driven by climate change. b) Natural gas processing The Gas Infrastructure Development Program enhances gas processing capacity. b) Crude oil sales Crude oil sales are NNPC’s primary revenue source. c) Saudi Arabia NNPC collaborates with Saudi Arabia on oil production technology. a) Reduce carbon emissions The Environmental Sustainability Program aims to reduce carbon emissions. d) Energy Security Strategy NNPC ensures energy security through its Energy Security Strategy. d) All of the above Gas commercialization includes LNG, LPG, and CNG. b) Chevron Chevron is a key partner in NNPC’s exploration projects. a) Infrastructure development Infrastructure development is the main challenge for increased oil production. c) Downstream NNPC’s new pricing model focuses on the downstream segment. b) Local participation The Nigerian Content Act aims to enhance local participation. a) Natural gas NNPC has committed to increasing natural gas production. a) Biofuel Development Program NNPC promotes biofuels through this program. b) Economic Community of West African States NNPC collaborates with ECOWAS to enhance energy access. a) Renewable energy Investment in renewable energy is for diversification. b) Diversification of energy sources Diversification is key to NNPC's energy transition. NNPC NEWS - NNPC Ltd Announces 1.8mbpdProduction per day. Eyes 2mbpd and 7.4billion standard cubic feet (bscf). - The Production War Room team was inaugurated on the 25th June 2024