We explained the structures and the list of new NNPC Limited’s subsidiaries. The subsidiaries and their core business areas. The renaming and merging of old Nigerian National Petroleum Corp (NNPC) subsidiaries into the new NNPC Limited and her Subsidiaries’ area of services in the Nigerian oil and gas sector. Contact Aziza Nigeria for Oil & Gas Consultancy Services in Nigeria
NNPC Ltd (NNPC), formerly Nigerian National Petroleum Corp, is a vertically integrated into an oil and gas limited liability company in July 2022 through PIA that was signed in 2021. NNPC Limited is the only entity licensed to operate in the country’s petroleum industry.
NNPC has several subsidiaries, two partly owned subsidiaries and 16 associated companies.
Read: How to Start Oil & Gas Business in Nigeria
NNPC Directorates:
- Upstream
- Downstream
- Gas, Power and New Energy
- Finance
- Business Services
How Some of the New NNPC Subsidiaries Emerged
The Nigerian National Petroleum Company Limited (NNPC) has collapsed some of its subsidiaries in a bid to assume its new status as a commercially driven business entity.
National Petroleum Investment Management Services (NAPIMS) has been renamed as the NNPC Upstream Investment Services (NUIS). Also, a number of the company’s business units and subsidiaries have now been merged.
With the development, NUIS has now added a segment of the erstwhile Crude Oil Marketing Division (COMD), while the Nigeria Petroleum Development Company (NPDC) has been restructured and renamed NNPC Exploration and Production Limited (NEPL).
To adjust to its new operations under the Petroleum Industry Act (PIA), the Integrated Data Services Limited (IDSL), NNPC Oilfield Services Ltd, Frontier Exploration Services have also been merged to form NNPC Energy Services Ltd under the new nomenclature, NNPC Enserve.
Furthermore, the National Engineering and Technical Company (NETCO) is now a full-fledged Engineering, Procurement and Construction (EPC) company under the brand name NNPC Engineering & Technical Company (NETCO).
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On July 19, 2022, the NNPC was officially unveiled as a limited liability company operating under the Companies and Allied Matters Act (CAMA), after being tied to the apron strings of the federal government for about 45 years.
Earlier, the state oil company had named five executive vice presidents, with the Group Executive Director, Upstream, Adokiye Tombomieye being made the Executive Vice President (Upstream), while the Group Executive Director, Downstream, Mr. Adeyemi Adetunji took the role of Executive Vice President (Downstream).
Also, the Executive Director, Gas and Power, Abdulkabir Ahmed, became the Executive Vice President, Gas, Power and New Energies; while Inuwa Danladi was named the Executive Vice President, Business Services.
In the same vein, Mrs. Oritsemeyiwa Eyesan took the role of Executive Vice President, Corporate Strategy and Sustainability; while Chidi Momah became the General Counsel for the national oil company.
The List of New NNPC Subsidiaries
FOR OIL & GAS UPSTREAM ACTIVITIES
NNPC E&P Limited (NEPL)
NNPC Upstream Investment Management Services (NUIMS)
NIGERIAN PETROLEUM EXCHANGE (NipeX)
NipeX (Nigerian Petroleum Exchange) is an electronic one-stop transaction centre that improves on value procurement and contracting processes in the Nigeria oil and gas industry. The Nigerian Petroleum Exchange (NipeX) is a Division of NUIMS.
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NipeX links Buyers and Suppliers by establishing industry-wide standards for business transactions which includes a platform for showcasing contract opportunities. NipeX registration
NNPC Energy Services Limited (EnServ)
Is responsible for the Crude Oil deliveries to the refineries, supply and distribution of petroleum products through a network of pipeline and storage depots as well as marine movement of petroleum products by vessels.
FOR GAS & POWER ACTIVITIES
NNPC Gas Infrastructure Company (NGIC)
NNPC Gas Marketing Limited (NGML)
NNPC Gas & Power Investment Services (NGPIS)
The three above subsidiaries targets are to unlock stranded gas and increase commercial gas volumes by expanding investments in gas processing and transmission network and access untapped markets to service existing and new gas-based industries, power, and LNG projects.
FOR NEW ENERGY ACTIVITIES
NNPC New Energy Limited (NNEL)
They are saddled with the responsibilities to provide sustainable, low-carbon energy solutions for end users through investment, commercial production, supply of carbon neutral fuels, renewable energy such as Solar; Renewable power, Biofuels – Fuel Ethanol, Biodiesel, Biogas, wind etc., while engaging in Greenhouse Gases (GHG) emission reduction projects and services.
FOR NON-ENERGY ACTIVITIES
NNPC Non-Energy Investment Services (NNIS)
To create, deliver and capture value from viable non-core energy business ventures.
Read: NipeX Registration Service
FOR NIGERIAN OIL & GAS DOWNSTREAM ACTIVITIES
NNPC Trading Limited (NTL)
NNPC Retail Limited (NRL)
NNPC Shipping Limited (NSL)
NNPC RefChem Limited (NRCL)
NNPC Downstream Investment Services (NDIS)
Nigerian Pipelines and Storage Company Limited (NPSC)
National Energy Reserve Management Company (NERMC)
The above subsidiaries are to ensure maximum economic performance and energy supply stability for domestic market through customer focused and sustainable business operations.
NNPC Energy Services Ltd
Integrated Data Services Limited (IDSL), NNPC Oilfield Services Ltd, Frontier Exploration Services have been merged to form NNPC Energy Services Ltd under the brand name NNPC Enserve.
NNPC Engineering & Technical Company (NETCO)
NETCO and the Engineering and Technology Division of the NNPC will now form a full-fledged Engineering, Procurement and Construction company under the brand name NNPC Engineering & Technical Company (NETCO).
Purpose of NNPC Limited
Players have said that the renewing of NNPC Ltd is a laudable achievement and game-changing for the Nigerian oil and gas sector.
The objective for the NNPC Ltd is to commercialise and ultimately privatise its national oil company and achieve a private commercial venture which is self-sufficient and operates in accordance with commercial business principles.
NNPC Ltd will be subject to the provisions of the CAMA as other companies incorporated in Nigeria. In line with the provisions of the PIA, NNPC Ltd will hold and be responsible for all interests and liabilities of the NNPC, including actions or proceedings brought by or against the NNPC prior to the date of transfer of its assets to NNPC Limited.
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The shares of NNPC Ltd are held by the Ministry of Finance Incorporated and Ministry of Petroleum Incorporated in equal portions, on behalf of the Federal Government. Thus, NNPC Limited’s shares are fully Federal Government owned until private investors acquire shares in NNPC Limited.
It is important to note that PIA places a restriction on the transfer of the shares in NNPC Ltd which are subject to the approval of the Nigerian Federal Government and the National Economic Council prior to a transfer including a transfer by way of sale, assignment, mortgage or pledge.