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Petroleum industry in Nigeria. Nigeria is the second largest oil and gas producer in Africa (after Angola ). [1] Crude oil from the Niger Delta basin comes in two types: light, and comparatively heavy – the lighter has around 36 of API gravity while the heavier has 20–25 of API gravity. Both types are paraffinic and low in Sulphur. [2]
In 1971, the Nigerian National Oil Corporation (NNOC) was created to handle direct commercial operational activities in the oil industry on behalf of the Federal Government. However, the Department of Petroleum Resources in the Federal Ministry of Mines and Power continued to exercise statutory supervision and control of the industry. In 1975 ...
NNPC's headquarters in Abuja, Nigeria. Nigerian National Petroleum Corporation ( NNPC) is a for profit oil company in Nigeria. Formerly a government-owned corporation, it was transformed from a corporation to a limited liability company in July 2022. NNPC Limited is the only entity licensed to operate in the country's petroleum industry.
LONDON (Reuters) -Nigeria is off the hook for an $11 billion damages bill over a collapsed gas processing project that was procured by bribery after the award was thrown out by London's High Court.
Nigerian Upstream Petroleum Regulatory Commission, formerly the Department of Petroleum Resources (DPR), is a department under the Nigerian Federal Ministry of Petroleum Resources (FMPR). It monitors the oil and gas industry to ensure compliance with relevant regulations and laws. [1] It also oversees the safety and other regulations that ...
These disruptions have been extremely costly to the Nigerian oil industry, and both the multinationals and the federal government have vested interests in permitting uninterrupted extraction operations; the NDDC is a result of these concerns and is an attempt to satisfy the demands of the delta's population. Mandate and operations
Petroleum Product Pricing Regulatory Agency. The Petroleum Products Pricing Regulatory Agency (PPPRA) is an agency of the government of Nigeria established in 2003 to, among other responsibilities, monitor and regulate the supply and distribution, and determine the prices of petroleum products in Nigeria. Its headquarters is located in Abuja ...
Oil and gas in Nigeria. The first oil well in Nigeria was drilled in 1958 in Oloibiri which is present day Bayelsa State. This acted as a milestone for the production of oil and gas in Nigeria and the emergence of the country as a top oil & gas producer globally. In 2022, Nigeria was still Africa's biggest oil producer and amongst one of the ...