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The Warri Refining and Petrochemicals Company Limited (WRPC) is situated in Warri, within Delta State, Nigeria, and began operations in 1978.This facility is a sophisticated conversion refinery, with a distillation capacity of 6,250,000 metric tons annually (equivalent to 125,000 barrels per day).
The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria.When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
As of 2007, Nigeria's oil revenue totaled $340 billion in exports since the 1970s and it was the fifth largest producer. [53] Nigeria imports most of its motor spirit, though it is a major oil exporter, and when fuel subsidies were lifted in January 2012, fuel increased from roughly $1.70 per gallon to $3.50. [54]
In October 2019, NNPC announced the signing of a $2.5 billion pre-payment agreement with Nigeria LNG to fund upstream gas development projects. [4] In December 2021, the Federal Government of Nigeria and NNPC Ltd signed a ₦621 billion Memorandum of Understanding to finance the construction of critical road infrastructure across the country. [5]
Ardova Plc (formerly Forte Oil PLC) is an indigenous energy group, headquartered in Lagos, Nigeria, with extended operations in Ghana.It operates majorly in the downstream sector of the Nigeria’s Oil and Gas industry, but has diversified its businesses into other sectors of the energy value chain.
In 2015, NLNG reported a 36.6% drop in its revenue due to declining oil and gas prices (US$6.84 billion in 2015, US$10.8 billion in 2014). [9] 2015 was the year that NLNG reached the threshold of US$85 billion of LNG exports in 15 years of business. [10] In July 2016, Tony Attah was named managing director and CEO of Nigeria LNG.
As part of its activities, the department manages the upstream and downstream sectors in Nigeria petroleum industry. [3] The Federal Government of Nigeria introduces National Production Monitoring Systems (NIPMS) to monitor the royalty payables and demand notices from all organizations dealing in petroleum in Nigeria.
Previously known as Texaco Nigeria Plc, a firm whose activities in Nigeria dates back to 1969 when it was established to take over the Nigerian trading interest of Texaco Africa Limited. [3] In 2009, a consortium of MRS Holdings and Petroci Holdings bought majority stake from Chevron Oil and Gas to form MRS Oil Nigeria PLC.