Author: adminnipco

NIPCO plots drawback for Nigeria’s deforestation – Backs FG desire for cooking gas growth

NIPCO Plc has heightened plots to weaken deforestation rocking parts of Nigeria with multi-million dollars investments. Managing Director of the company, Sanjay Teotia, who said this at the 8th annual international conference and exhibition organized by Nigerian Liquefied Petroleum Gas Association (NLPGA) in Abuja, maintained that this is being done through NIPCO’s huge investments in cooking gas sub-sector. The feat, he said, “has not only created lots of awareness on the benefits of gas as domestic cooking fuel but has also served as drawback to deforestation in the country.” Throwing his company’s...

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Nigeria Oil Industry – Projecting into the Future

(L-R) Past Council Chairman, SPE Nigeria Mr. George Kalu; Chairman, SPE Nigeria Council,Mr. Chikezie Nwosu and Managing Director NIPCO Plc, Mr. Sanjay Teotia during the 18th Annual Oloibiri Lecture Series and Energy Forum organized by Society of Petroleum Engineers Nigeria Council in Abuja...

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Industrial LPG Use Seen Lowering Manufacturing Cost

The recent acquisition of ExxonMobil’s 60 per cent equity in Mobil Oil Nigeria Plc by NIPCO has demystified the impression by International Oil Companies (IOCs) that it is impossible for indigenous companies to market petroleum products. The Chairman, Petroleum Downstream Committee, House of representatives, Hon. Joseph Akinlaja, who disclosed this during an oversight visit to NIPCO Plc in Lagos, said the feat is commendable and a big boost for higher indigenous stake in the nation’s oil and gas industry. “There is no rocket science in selling white products, as the pioneer foreign...

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NIPCO MD Upbeat on Growth Opportunities in Downstream Sector

Despite the challenges in the downstream sector in the 2017 financial year, NIPCO Plc has expressed optimism about meaningful growth opportunities in petroleum products marketing to improve investor’s returns. Speaking on the sidelines of the company’s 14th Annual General Meeting [AGM] in Abuja, the Managing Director, Sanjay Teotia said in spite of the numerous challenges, the company exhibited utmost capacity to surmount the difficult times. NIPCO’s turnover for the 2017 financial year grew by 35% from N170billion in 2016 to N207billion, Profit after tax rose from N1.8billlion in 2016 to N2.1billion...

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Human Capital Remains Our Greatest Asset – NIPCO Boss

The Managing Director, NIPCO Plc, Sanjay Teotia has expressed the company’s resolve to ensuring safe and healthy working conditions for all its workforce through plethora of measures put in place to sustain safe and secure working environments for all employees. The MD who disclosed this in an address to mark this year NIPCO safety week in commemoration of World Day for Safety & Health at Work as declared by the International Labour Organization [ILO] said the avowed commitment is in realization of the company’s human capital as the greatest asset of...

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NIPCO Marks Safety Week

NIPCO joins the rest of the world to mark the World Day for Safety and Health at Work [Safe Day] as part of our commitment to Sustaining a Positive HSE Culture in our work environment. The theme of this year celebration which was marked worldwide on April 28 is: Generation Safe & Healthy. Series of events have been lined up to mark the Week in commemoration of the World Safety Day. The events scheduled to hold on May 8 & 9, 2018 include lectures, road walk, awards to deserving personnel who have...

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NIPCO Helmsman, Sanjay Teotia Inducted as IOD Member

The Managing Director, NIPCO Plc, Sanjay Teotia has been inducted into the prestigious Institute of Directors, apex body of the private sectors that caters & speaks for directors in their various sectors and across the various sectors of the economy. The induction along with scores of distinguished board gurus across the country was held and Eko Hotel, Lagos. The IOD is a corporate leadership organization involved in promoting professionalism through continuous education information sharing, networking of opportunities and positive contributions to the socio - economic and political growth of Nigeria. It presents a...

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NIPCO Bags Maiden NIPS Oil Gas Award

NIPCO Plc has bagged an Oil and Gas Industry Award over its unprecedented acquisition of ExxonMobil stake in Mobil Oil Nigeria Plc. The award, which was in recognition of the company's huge financial investments in the nation's downstream sector of the hydrocarbon industry, was the highlight of the maiden Nigeria International Petroleum Summit held in Abuja. Presenting the award to the company at an impressive event witnessed by key stakeholders in the industry, the Permanent Secretary, Federal Ministry of Petroleum Resources, Dr Folasade Yemi - Ojo, said that it was part of...

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