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NNPC – Nigerian National Petroleum Corporation

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NNPC fully means Nigerian National Petroleum Corporation. It is a public company founded in 1977 with its main office at Abuja, Nigeria. The major products it deals in are petroleum, gas and petrochemicals. It is a national oil company owned and managed by the federal government. It is through this corporation that the national government runs and takes part in the petroleum industry of Nigeria.

NNPC runs the joint venture which it has with the Nigeria national government and a few of the overseas transnational firms. The transnational firms are referred to as Agip, Shell, Texaco, Chevron, and Exxonmobil. Through the partnership NNPC it has with these firms, the national government of Nigeria carries the advancement of the rich petroleum resources available in Nigeria.

Persons who want to buy crude from Nigeria can do so through the NNPC. It is the end seller of crude oil in Nigeria. There are also people referred to as fiduciary agents, operators and allottee. These set of persons find crude oil buyers for NNPC. The grades of crude oil you can buy from NNPC are bonny light crude oil, forcados, qua iboe, etc. Most of these grades of crude has their terminals. Each of these crude has their respective specifications and as such they have to be transferred via pipeline from their origin to their specific terminals. It is from these terminals that they are sold out.

If you are conversant with the terms of NNPC, you will agree with me that it does not sell its oil through any agent. This is very important so you will avoid fraud from persons who pose to be sellers of crude in Nigeria. The best way based on my experience to purchase crude from NNPC is to do so through its allotee. Oil allocation is given to NNPC allotees. You can ask them to provide with it as a proof that they have an allocation with the main seller before you proceed forward to deal with them.

Ositadimma Muodozie

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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