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Petroleum industry in Nigeria. Nigeria is the second largest oil and gas producer in Africa (after Angola). [1] Crude oil from the Niger Delta basin comes in two types: light, and comparatively heavy – the lighter has around 36 of API gravity while the heavier has 20–25 of API gravity.
1875 to January 1993. Isaac Blake, the founder of the Continental Oil Company (now ConocoPhillips). His son was the actor and opera singer Winfield Blake. In 1875, the "Continental Oil and Transportation Company" (acronym "Conoco") was founded in Ogden, Utah by Isaac Blake. [9] In 1885, Conoco was reincorporated as part of Standard Oil. [10]
Gulf Oil Company of Nigeria which became later known as Chevron obtained oil acreage license in 1961. It is noteworthy for being the first oil major to discover commercially viable offshore oil with its discovery of the large Okan field, at Escravos River in 1963. [1] The field had an estimated 2 billion barrel of oil in place and up to 800 ...
NNPC was established on 1 April 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Petroleum and Energy Resources. [2] NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, TotalEnergies, Chevron, and Texaco (now merged with Chevron).
Company Industry Revenue (US$ millions) Profits (US$ millions) 1 Nigeria National Petroleum: Oil and gas 9,706 1,877 2 Nigeria Liquefied Natural Gas: Oil and gas 6,315 ... 3 MTN Nigeria: Telecommunications 3,514 536 4 Dangote Cement: Cement 2,699 721 5 Nigerian Petroleum Development: Oil and gas 2,686 219 6 Flour Mills of Nigeria: Agroindustry ...
Dangote Refinery. 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.
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ExxonMobil Nigeria. ExxonMobil has offshore oil production in Nigeria, and is the country's second largest crude oil producer. [1] Mobil Producing Nigeria (MPN) began shallow water operations in 1955, and owns over 90 platforms and 300 producing wells covering 3,200 square kilometres (1,200 sq mi; 790,000 acres). [2]
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