|THE NIGERIAN NATIONAL PETROLEUM CORPORATION
The Nigerian National Petroleum Corporation was formed in 1977 through the merger of some of the departments of the Ministry of Petroleum Resources, and the old Nigerian National Oil Corporation. The Corporation has sole responsibility for upstream and downstream developments, and is also charged with regulating and supervising the oil industry on behalf of the Nigerian Government. In 1988, the corporation was commercialised into 12 strategic business units, covering the entire spectrum of oil industry operations: exploration and production, gas development, refining, distribution, petrochemicals, engineering, and commercial investments. The subsidiary companies include:
National Petroleum Investment Management Services
Most of the major oil and gas projects focus on the joint venture operations in which NNPC is the major shareholder, and the deep offshore development program, being carried out under production sharing contracts. All development plans for such projects must be approved by NNPC. There are other projects which the corporation develops primarily in areas of products distribution (pipelines, depots), refining, and petrochemicals. Current projects being handled by subsidiaries of NNPC, include the gas supply pipeline to the Aluminium Smelter plant in Ikot Abasi, and the Bonny Export Terminal.
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