NIPCO PLC is well known for distribution of White Oil products, CNG and LPG in Nigeria. NIPCO has also pioneered in setting new standards and introducing new products into the country. We market our products through strategic business units – NIPCO Retail, LPG and Nipcogas.
The company’s mission is to become a fully integrated oil & gas company which started its business with a Petroleum storage tank farm at Dockyard Road, Apapa, Lagos. Presently NIPCO handles annually a throughput of 1.9 billion litres (1.6 Million MT). In line with the company’s mission NIPCO expanded its operations with the commissioning of LPG storage and distribution terminal in the year 2008.
Subsequently we ventured into Retail marketing of petroleum products in the year 2009. We made foray into CNG business as a pioneer in the industry in the 2010. Currently NIPCO PLC is venturing into the upstream oil and gas business by taking minor stakes in OML 40.
With a view to accomplish its mission of becoming a fully integrated oil & gas company, We are now focusing on acquiring upstream assets in Nigeria. For this purpose it has established NIPCO E&P Ltd. and it is actively pursuing acquisition of upstream assets.
To begin with NIPCO Plc holds a strategic investment of 7.9M USD in OML40. Currently Eland operates OML40 in the Niger Delta. The company has also invested USD 3 million in Midway Resources International – an exploration company with prospective and proven acreages in Nigeria and Kenya.
In a conscious move to promote the use of LPG as domestic cooking fuel, NIPCO commenced the deployment of skid tanks in 2010 across the country with the objective of bringing the product closer to end users at competitive price.
The skid plants which is the latest technology in dispensing gas, serves dual purpose of re-filling cylinders and vehicles with auto fuel.
NIPCO skids is highly computerized with electronic filling machines which helps in delivering accurate product filling to the delight of customers.
With the company’s hands on experience in the downstream sector, stakeholders are upbeat that the use of gas could be further deepened through unfettered access to the product at the skid plants across the nation.