The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation through which the federal government of Nigeria regulates and participates in the country's petroleum industry.
NNPC was established in April 1, 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Power. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corpor...
more
The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation through which the federal government of Nigeria regulates and participates in the country's petroleum industry.
NNPC was established in April 1, 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Power. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, ExxonMobil, Agip, TotalFinaElf, Chevron, and Texaco (though now merged with Chevron). Through collaboration with these companies, the Nigerian government conducts petroleum exploration and development. The head of the Nigerian wing of Transparency International says salaries for workers are too low to prevent graft.
As of September 2007, Nigerian President Umaru Yar'Adua plans to split the company into five new companies.
The NNPC Towers in Abuja is the Headquarters of NNPC. It is made up of four...
less
