NNPC absolutely means Nigerian Nationwide Petroleum Company. It’s a public firm based in 1977 with its primary workplace at Abuja, Nigeria. The most important merchandise it offers in are petroleum, gasoline and petrochemicals. It’s a nationwide oil firm owned and managed by the federal authorities. It’s by this company that the nationwide authorities runs and takes half within the petroleum business of Nigeria.
ibe kachikwu runs the three way partnership which it has with the Nigeria nationwide authorities and some of the abroad transnational companies. The transnational companies are known as Agip, Shell, Texaco, Chevron, and Exxonmobil. Via the partnership NNPC it has with these companies, the nationwide authorities of Nigeria carries the development of the wealthy petroleum assets obtainable in Nigeria.
Individuals who need to purchase crude from Nigeria can achieve this by the NNPC. It’s the finish vendor of crude oil in Nigeria. There are additionally individuals known as fiduciary brokers, operators and allottee. These set of individuals discover crude oil patrons for NNPC. The grades of crude oil you should purchase from NNPC are bonny mild crude oil, forcados, qua iboe, and so forth. Most of those grades of crude has their terminals. Every of those crude has their respective specs and as such they should be transferred by way of pipeline from their origin to their particular terminals. It’s from these terminals that they’re bought out.
If you’re conversant with the phrases of NNPC, you’ll agree with me that it doesn’t promote its oil by any agent. This is essential so you’ll keep away from fraud from individuals who pose to be sellers of crude in Nigeria. One of the best ways based mostly on my expertise to buy crude from NNPC is to take action by its allotee. Oil allocation is given to NNPC allotees. You may ask them to supply with it as a proof that they’ve an allocation with the primary vendor earlier than you proceed ahead to take care of them.