NIPCO Businesses – NIPCO PLC

NIPCO BUSINESSES

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DEPOT DIVISION

The ultra-modern fully automated fuel terminal has facilities that can store 85 Million liters of petroleum products in the pursuit of meeting the goals of ensuring uninterrupted supply of petroleum products to their members.

The strategic nature of Apapa, Lagos in the downstream sector of the Oil and Gas business accounted for building of our depot at Dockyard, Apapa, Lagos, Nigeria. The location of storage facility is unique as it has direct access to the jetties.

LPG DIVISION

NIPCO Plc’s Commitment To Gas Sector Flows From The Federal Government’s Call To Promote The Gas Sector In Nigeria Which Is Gifted With Abundant Indigenous Supply.

Notwithstanding the success in the oil terminal division, NIPCO took the pioneering step to promote Liquefied Petroleum Gas (LPG), commonly called cooking gas across the nation. With the consent of the Federal Government, NIPCO opted to build a major private ultramodern terminal for storage and distribution of LPG. In 2007, NIPCO began the construction of a state of the art LPG plant at its sprawling Dockyard Road terminal and commissioned the LPG terminal in January 2009.

CNG DIVISION

In March 2007, NIPCO Plc made its presentation of its CNG project to the Inter-ministerial team of the Federal Government. In the same month FG accorded it’s approval to commence the proposed project at Benin City. Green Gas Limited(GGL) was formed as Joint Venture Company between NIPCO and Nigerian Gas Company Limited (NGC) to implement the CNG project.

Currently NGC which is subsidiary of NNPC owns 30% of equity while NIPCO owns the balance 70% equity. GGL has established 8 CNG running stations in Benin to provide an alternative for the Gasoline run automobiles.

NIPCO UPSTREAM

With a view to accomplish its mission of becoming a fully integrated oil & gas company, NIPCO is now focusing on acquiring upstream assests in Nigeria. For this purpose it has established NIPCO E&P Ltd. and it is actively pursuing acquisition of upstream assets.

To begin with NIPCO Plc holds a strategic investment of 7.9M USD in OML40. Currently Eland operates OML40 in the Niger Delta. NIPCO Plc has also invested USD 3 million in Midway Resources International – an exploration company with prospective and proven acreages in Nigeria and Kenya

RETAIL DIVISION

NIPCO ventured into retail marketing of fuels in 2009 after consolidating its performance at the depot level. This is in order to have a greater visibility for the NIPCO brand and also to serve the market directly.

NIPCO expanded its retail network aggressively with different business models like Company Owned and Company Operated (COCO), Company owned Dealer Operated (CODO), Dealer owned Company Operated (DOCO) and Dealer Owned Dealer Operated (DODO) stations.