NNPC is a state-owned institution formed in 1977 to manage all hydrocarbon-related interests in Nigeria. With an integrated corporate structure of six directorates, NNPC is involved in both upstream and downstream activities. It is responsible for implementing the Government’s national petroleum policy including: increasing Nigeria’s oil reserve base, making adequate provision for the exploitation of petroleum reserves, and the increased participation of indigenous and foreign private companies in the industry.
NNPC also supports oil prices in the international market by acquiring reasonable shares in key markets and ensures that environmental safeguards are in place. Harnessing the country’s abundant natural gas resources has become a key goal, as has ensuring the adequate supply of petroleum products to the domestic market through its refining, storage and distribution systems.