Top 10 Oil And Gas Companies in Nigeria You Should Aware Of
Oil and gas companies in Nigeria contribute 9% of the country’s GDP. As the second largest oil producer in the continent, Nigeria has all of the potential to be a top industry contender. However, lacking infrastructure and economic difficulties forced them to put the plan off and allow multinational companies to come and provide petroleum for Nigerians. Today, most of the market leaders are international-based companies, but some local companies show that they’re capable to lead the Nigerian petroleum market.
Top 10 Nigerian Oil and Gas Companies
In no particular order, here are the top ten oil and gas companies that you can find in Nigeria. The list comprises how well-known and their total yearly revenue in the country.
1. Chevron
One of the oldest oil companies in the world, Chevron entered the Nigerian market in 1913. They were the first and part of the largest investors in the Nigerian petroleum industry. Today, they have a joint venture with the NNPC in several energy niches.
2. Exxon Mobil
This American company has been working in Nigeria since 1955 under the name Mobil Exploration Nigeria Incorporated or MENI. Today, Exxon is one of the top companies in Nigeria as you can see their signs almost everywhere.
3. NNPC (Nigerian National Petroleum Corporation)
As a state company, NNPC primarily works in refining and petrochemicals. The company was established in 1977 and has been building refineries through the years. In 1989, NNPC took over a Shell refinery in Port Harcourt.
4. Shell Inc
In addition to being one of the largest oil companies in Nigeria, Shell also holds multiple subsidiaries covering exploration and natural gas. Today, Nigeria LNG Limited is also a subsidiary of Shell Inc.
5. Total Energies
This French company entered the Nigerian market in 1956. Today, they have more than 500 stations across the country. Total also works on chemical and other oil products.
6. Nigerian Agip Oil
As one of the largest companies in Nigeria, Agip Oil is a subsidiary of Eni, an Italian oil and gas company. They have been in the business since the mid-1960s and until today still dominate the offshore areas through NAOC and NAE.
7. Addax Petroleum
Addax has been in the Nigerian market since the mid-1990s. And in 2009, the company was acquired by the Sinopec Group, one of the largest oil and gas companies worldwide.
8. SAPETRO
South Atlantic Petroleum or SAPETRO is one of the largest oil companies in Nigeria. Today, SAPETRO holds the second-largest offshore area in East and Southern Africa.
9. Equinor
Used to known as Statoil, the company has been running in Nigeria since 1992. After the acquisition by the Norwegian company, Equinor, the company continues its role in deepwater drilling. Until today, Equinor has invested more than US$3.5 billion in the country’s oil industry.
10. Nigeria LNG
This state company focuses more on acquiring and producing Liquified Natural Gas, LNG, and Natural Gas Liquid or NGL. But eventually, the company covers almost all aspects of the petroleum industry including geothermal energy.
The number of oil and gas companies in Nigeria continues to change over the years. At least more than a hundred companies registered as working in the oil industry throughout the years. However, these top ten show that the industry continues to thrive. Nigeria will probably be a dominant player in the petroleum industry in Africa.
