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Home Business News

NNPC putting finishing touches to security of downstream assets

Onome Ohwovoriole by Onome Ohwovoriole
October 30, 2017
in Business News, Company News
On Record: NNPC Chairman, Baru On Plans To End Fuel Importation
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The Nigerian National Petroleum Corporation (NNPC) has concluded moves to select firms to provide security services for its downstream assets. This was disclosed by a representative of the Nigerian Pipeline Security Company (NPSC) during the opening of bids by 32 firms short listed. The NPSC is a subsidiary of the NNPC in charge of the corporation’s depots and pipelines.

Why this is key

Oil and gas facilities tend to be vandalized by criminal elements, often domiciled within the areas these facilities are located. Adequate security, reduces the likelihood of such attacks and in the long run saves the NPSL the expense of constantly repairing damaged facilities. Fuel supply across the country will also be stable, as the NNPC is currently the largest importer of petroleum products into the country.

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The NNPC is the Federal Government owned corporation which was established on April 1, 1977. In addition to its exploration activities, the Corporation was given powers and operational interests in refining, petrochemicals and products transportation as well as marketing. Between 1978 and 1989, NNPC constructed refineries in Warri, Kaduna and Port Harcourt and took over the 35,000-barrel Shell Refinery established in Port Harcourt in 1965.


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Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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