NIPCO NEWS – Page 7

April 4, 2017

Mobil Oil Changes Name To DOUBLE ONE

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...

by adminnipco

0 Comments

January 25, 2017

NIPCO NEWS

NIPCO Constructs New 5,000 MT LPG Storage Facility

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...

by adminnipco

0 Comments

January 25, 2017

NIPCO NEWS

We’ve Improved Local Content in Gas Sector

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...

by adminnipco

0 Comments

January 25, 2017

NIPCO NEWS

How NIPCO enhances local content in compressed natural gas scheme The Guardian, 16 November, 2016

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...

by adminnipco

0 Comments

January 25, 2017

NIPCO NEWS

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...

by adminnipco

0 Comments

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....

by adminnipco

0 Comments

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...

by adminnipco

0 Comments

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...

by adminnipco

0 Comments

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...

by adminnipco

0 Comments

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...

by adminnipco

0 Comments