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January 25, 2017

HOW NIPCO ENHANCES LOCAL CONTENT IN GAS SECTOR – VENKATARAMAN

The Managing Director, NIPCO Plc. , Mr Venkataraman Venkatapathy, has said that the diversification of the company’s operations into the natural gas through which over 6,000 automobiles now run on gas created vista of opportunities for enhancement and empowerment of local content in the industry. Lawal Taofeek, Manager Cooperate Affairs, NIPCO PLC, said in a statement that the NIPCO boss made the disclosure in a paper presented on his behalf by General Manager, Green Gas Ltd, a JV of NGC & NIPCO, Rajesh Prabhu, at a session on Nigerian Content and...

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January 25, 2017

NIPCO NEWS

NIPCO DOWNSTREAM SECTOR ATTRACT MEGA DEALS

….. as Mobil Oil sells its 60% stake to NIPCO …. Nipco to maintain Mobil brand both in fuel, lubes businesses There are indications that the positive outlook in the downstream sector in Nigeria is attracting mega deals. The latest is the Exxon Mobil Oil Corporation sell off its shares representing 60 percent of Mobil Oil Nigeria to Nipco Investments Limited, a wholly owned subsidiary of Nipco Plc. The deal , worth about N40.2 billion, based on the market value of Mobil Nigeria Plc, as at yesterday, is subject to regulatory approval....

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January 25, 2017

NIPCO NEWS

NIPCO ACQUIRES 60% EQUITY IN MOBIL OIL

The Nigerian Independent Petroleum Company (NIPCO) has signed the acquisition of 60 per cent stake in leading downstream company, Mobil Oil Nigeria Plc (MON), following the execution of Sales and Purchase Agreement with ExxonMobil. In a statement after the deal was signed, the NIPCO Managing Director, Mr. Venkataraman Venkatapathy, said that both firms would now start the transition period, which includes obtaining regulatory approvals from the requisite federal agencies such as the Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE), he said. “The transition period will also enable NIPCO Plc...

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January 25, 2017

NIPCO NEWS

NIPCO ACQUIRES 60% EQUITY IN MOBIL OIL

The Nigerian Independent Petroleum Company (NIPCO) on Wednesday announced the acquisition of 60 per cent stake in the Mobil Oil Nigeria Plc (MON), a leading downstream player of high repute. The Managing Director, NIPCO Mr Venkataraman Venkatapathy disclosed this in a statement after the completion of the signing of the deal. Venkatapathy said that the acquisition was agreed with the execution of a Sales and Purchase Agreement with ExxonMobil. According to him, with the signing, we will start the transition period and initiate the process of obtaining regulatory approvals from the...

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December 22, 2016

NIPCO NEWS

Petroleum Minister, Kichukwu Pledges Uninterrupted Fuel Supply During the Yuletide

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has assured Nigerians that the current fuel scarcity roll over to the yuletide even as Nipco plc restate its community to ship in more cargoes to augment supplies from the NNPC. Nipco had few days ago braced all odds in importing 37 million liters of petrol even when most marketers had shun importation owing to the outstanding subsidy claims of over N413 billion which although government had approved but is yet to be appropriated by the National Assembly for payment. Dr Kachikwu...

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September 14, 2016

NIPCO NEWS

NIGERIA GAS ASSOCIATION AND NIPCO PLC SEEK MORE FOCUS ON GAS IN NATION’S ENERGY MIX

The Nigeria Gas Association [NGA], and Nipco plc, an indigenous downstream operators in the Oil and Gas industry have asserted that for Nigeria to effectively harness her endowed gas resources there is need for a special policy focus on gas sector in the nation’s energy mix. Making the assertion during a courtesy visit by the President of the Nigerian Gas Association [NGA], Bolaji Osunsanya and some council members to Nipco Plc, the duo maintained that Nigeria will only be often referred to as gas heaven with low level of utilisation of...

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July 7, 2016

NIPCO NEWS

NIPCO Wins Twin Recognitions At Guardian Maiden Ioil & Gas Awards

The peerless housekeeping and safety compliant of NIPCO PLC has again earned the company the best Oil and Gas Health & Safety Company of the Year at the maiden edition...

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June 29, 2016

Uncategorized

NNPC, NIPCO Fuel Distribution Deal Hits 1.8 Billion Litres Mark

The storage arrangement otherwise known as thru put operated by the Nigerian Independent Petroleum Company (NIPCO) for the Nigeria National Petroleum Corporation (NNPC) has reached a record mark of 1.8 billion litres in the last nine years. The thru put programme, which allowed the NNPC to use NIPCO’s storage facility for storage and distribution of petrol and kerosene commenced in 2007 and has significantly aided smooth distribution of petroleum products in the country. The Group Executive Director/Chief Operating Officer, NNPC (Downstream), Henry Ikem Obih, who was on a visit to the company’s...

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June 27, 2016

NIPCO NEWS

Nipco Strategic to Downstream Operation

The Nigerian National Petroleum Corporation [NNPC] has explained why NIPCO PLC remains a strategic partner with the corporation in the downstream sector of the nation’s oil and gas industry even as the company’s thru-put figures reached 1.8 billion litres of white products. Henry Ikem Obih, the Group Executive Director/COD [Downstream], who was on a visit to the company’s premises in Apapa said three main explanations on the key positions of NIPCO in the sector with the seamless operation of the company in the storage and distribution if of petroleum products being...

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June 24, 2016

NIPCO NEWS

THE NATION TUESDAY EDITORIALS, The NIPCO EXAMPLE

Vigorously pursuing the gas alternative is perhaps the surest way to diversify Nigeria’s economy It appears to us more like a rare admixture of tenacity and belief than economics and the pursuit of profits. This is the laudable story of NIPCO Plc., an indigenous oil and gas marketing firm. Last week, the management of NIPCO paid a courtesy call on former President Olusegun Obasanjo, at his Hilltop residence in Abeokuta, Ogun State. It was revealed at that occasion that the former president had granted licences to three firms to develop Nigeria’s abundant...

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Author: adminnipco