Nigerian National Petroleum Corporation
NNPC fully means Nigerian National Petroleum Corporation. It is a public company founded in 1977 with its main office at Abuja, Nigeria. The foremost products it deals in are petroleum, gas and petrochemicals. It’s a national oil company own and managed by the federal government. It is thru this corporation that the national government runs and takes part within the petroleum industry of Nigeria.
NNPC runs the joint venture which it has with the Nigeria national government and a few of the overseas transnational firms. The transnational firms are referred to as Agip, Shell, Texaco, Chevron, and Exxonmobil. Through the partnership NNPC it has with these firms, the national government of Nigeria carries the advancement of the rich petroleum resources available in Nigeria.
Persons who want to purchase crude oil from Nigeria can achieve this through the NNPC. It’s the end seller of crude oil in Nigeria. There are also people referred to as fiduciary agents, operators and allottee. These set of persons find crude oil buyers for NNPC. The grades of crude oil you can buy from NNPC are bonny light crude oil, forcados, qua iboe, etc. Most of those grades of crude oil has their terminals. Each of those crude oil has their respective specifications and as such they should be transferred via pipeline from their origin to their specific terminals. It is from these terminals that they’re sold out.
In case you are conversant with the terms of NNPC, you will agree with me that it does not sell its oil through any agent. This is very important so you will avoid fraud from persons who pose to be sellers of crude oil in Nigeria. One of the simplest ways based on my experience to purchase crude oil from NNPC is to do so through its allotee. Oil allocation is given crude oil realizations definition to NNPC allotees. You may ask them to provide with it as a proof that they’ve an allocation crude oil realizations definition with the principle seller before you proceed forward to deal with them.