Joining CNBC Africa from the trading floor of the NSE to talk about the recent acquisition of Mobil Oil's downstream business in Nigeria is Venkataraman Venkatapath, Group Managing Director at NIPCO. CLICK HERE TO WATCH THE INTERVIEW...
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L-R Company Secretary ,NIPCO Plc ,Barrister Paul Obi ; Managing Director, Mobil Plc., Tunji Oyebanji; Group Managing Director [GMD ], Venkataraman Venkatapathy; and Group Executive Director, Corporate Services, Alhaji Abdulkadir Aminu at the announcement of the completion of acquisition of ExxonMobil stake in MON by NIPCO PLC in Lagos . Group Managing Director ,NIPCO Plc ,Venkataraman Venkatapathy [3rd from left ] flanked by Company Secretary ,NIPCO Plc ,Barrister Paul Obi ;Managing Director ,Mobil plc ,Tunji Oyebanji ;and Group Executive Director ,Corporate Services ,Alhaji Abdulkadir Aminu at a news briefing on the...
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L-R Group Executive Director [GED] Legal Services ,NIPCO Plc , Paul Obi ; Managing Director , Mobil Plc, Tunji Oyebanji ; Group Managing Director,Venkataraman Venkatapathy ; and Group Executive Director, Corporate Services , Alhaji Abdulkadir Aminu at the announcement of the completion of acquisition of ExxonMobil stake in MON by NIPCO PLC in Lagos Sequel to the successful completion of the acquisition process of the 60 per cent equity stake of ExxonMobil in Mobil Oil Nigeria Plc (MON) by NIPCO PLC, the new management under the group managing director, Venkataraman Venkatapathy...
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The Nigerian Independent Petroleum Company (NIPCO) has embarked on the construction of a 5,000-metric tonne (MT) Liquefied Petroleum Gas (LPG) storage facility to ameliorate the challenges of domestic supply of cooking gas in the country. NIPCO spokesman, Taofeek Lawal, disclosed this during the company‟s facility tour with the media on the ongoing 5,000 MT LPG storage capacity in Lagos. Lawal said that the additional 5,000MT storage tank project when completed this year, would promote growth in Nigeria‟s LPG market, adding that the facility commenced in April 2016, with over 80 workers and...
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The Managing Director, Nipco Plc, Mr. Venkataraman Venkatapathy, has said the company has created opportunities for the enhancement and empowerment of local content in the industry through the diversification of the company’s operations into the natural gas space, with over 6,000 automobiles now running on gas. He said this in a paper presented on his behalf by the General Manager, Green Gas Limited, a joint venture of Nigeria Gas Company and Nipco, Mr. Rajesh Prabhu, during the Nigerian Gas Association’s 10th International Conference and Exhibition in Abuja. Venkatapathy said the Compressed...
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Managing Director, NIPCO Plc. Venkataraman Venkatapathy, has said that the diversification of the company’s operations into the natural gas created a vista of opportunities for the enhancement of local content in the industry. He disclosed this in a paper presented on his behalf by General Manager, Green Gas Limited, a Joint Venture of Nigeria Gas Company (NGC), and NIPCO, Rajesh Prabhu, at a session on Nigerian Content and Gas Opportunity during the Nigerian Gas Association conference in Abuja. Rajesh stated that the Compressed Natural Gas (CNG) revolution had offered alternatives for motorist...
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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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….. 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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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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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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