Nigerian National Petroleum Corporation (NNPC)

About Nigerian National Petroleum Corporation (NNPC)

Who We Are NNPC Limited is a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain. Our mandate is to create an energy business that is: Efficient We are focused on energy transition while ensuring domestic energy security. Our mandate is to create an energy business that is: Resilient We are focused on energy transition while ensuring domestic energy security. Our Vision To be the dynamic global energy company of choice. Our Mission Reliably delivering energy while continuously creating value for all stakeholders. Our Values Integrity Excellence Sustainability Our Strategy Our strategy is focused on growing our global energy delivery capacity By enhancing our upstream production, expanding our gas processing and transportation services for domestic consumption, and exports. We will also revamp and expand our refining asset portfolio through greenfield projects with chemicals production integration and leverage equity partnerships. This will ensure we have sufficient capacity to meet local and international demand for premium energy products and services. We will continue to promote environmental sustainability through our long-term decarbonisation programme and quality investments in new energy sources such as solar and biofuels. Our History NNPC Limited’s history began with the discovery of oil in commercial quantity at Oloibiri, Bayelsa state in 1956. This discovery eventually led to the formation of the Nigerian National Oil Corporation (NNOC) as the National Oil Company of Nigeria in 1971. In 1971, It is noteworthy that in the same year, Nigeria joined the Organization of the Petroleum Exporting Countries (OPEC) as its tenth member. A merger of NNOC, with its operational functions and the Federal Ministry of Mines & Power with its regulatory responsibilities gave birth to the Nigerian National Petroleum Corporation. April 1st 1977. August 16th 2021 This entity endured, recording appreciable progress in all facets of the petroleum industry, until the signing of the Petroleum Industry Act (PIA). The enactment of the PIA, an omnibus legislation overhauling the Nigerian Oil & Gas Industry, heralded the birth of a new Corporate entity, the NNPC Ltd., which was incorporated as a Limited Liability Company in September 2021. Under the PIA, the Company is free to operate in different sectors of the global energy industry and pursue other commercially viable ventures that will guarantee value to all its stakeholders.