This page is about the List of Top Oil and Gas Companies in Nigeria for the year 2024 via Afrokonnect. Nigerian National Petroleum Commission (NNPC) works closely with the country’s oil and gas firms.
The federal government of Nigeria is working with these international corporations, as part of a collaborative effort to research and develop a variety of petrochemical products using the country’s native resources. This has made a significant contribution to the Gross Domestic Product (GDP) of Nigeria as well as her income.
List of Top Oil and Gas Companies in Nigeria 2024
Do you need information on all of the best and richest Nigerian oil and gas companies? This page contains all of the information necessary to understand the leading oil and gas businesses and the activities that they engage in. So, without further ado, let’s dive in straight to the countdown.
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Shell
Have you ever come across the company known as Shell? Most likely, yes, because the name is quite popular within and outside the country. It is widely recognized as one of the most successful and significant oil and gas corporations in Nigeria.
About half a century ago, the international oil firm that was once controlled by Royal Dutch Shell began doing business in Nigeria. Shell generates close to 200,000 barrels of oil every single day via a partnership with the United States Federal Government.
They engage in a variety of tasks, including oil exploration and production in diverse environments, such as offshore, onshore, shallow, and deep water respectively. It is common knowledge that Shell is one of the oil corporations in Nigeria that pays its employees the most.
As a consequence of this, they own a significant number of oil-producing fields, pipelines, and power plants. Take a look at the top five opportunities for doing business in the oil and gas sector in Nigeria.
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Chevron Petroleum Nigeria Ltd
Shell and Chevron both have significant roles in the Nigerian oil and gas industries. Chevron has many offices all around the Niger Delta region, one of which is located in the Agbani field.
These offices were established as a consequence of a partnership between Chevron and the Nigerian National Petroleum Commission. They are responsible for the manufacturing of one of the major oil products that is marketed in Nigeria and around the globe and it’s headquarters are located in the United States.
Richest Oil and Gas Companies in Nigeria
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ExxonMobil
In 1995, the Exxon Mobil Corporation, more often referred to simply as ExxonMobil, launched its business activities. It is both one of the biggest oil and gas corporations in Nigeria as well as one of the best.
ExxonMobil has more than 300 different crude products and daily production of up to 500,000 barrels, as a direct consequence of it’s partnership with the federal government in a joint venture. In addition, ExxonMobil not only engages in oil exploration, but also manufactures and distributes a variety of oil-based goods and the company’s facilities contribute to the production of power.
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Total E&P Nigeria Ltd
With more than half a century of industry expertise, Total ranks among the most successful oil firms in Nigeria. The International oil and gas business is a significant participant in the oil sector. It obtained its permission to begin operations in 1956 and has been operating successfully ever since.
Biggest Oil and Gas Companies in Nigeria in 2024
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Nigeria Agip Oil Company (NAOC)
Another major operator in the Nigerian oil and gas business is Nigeria Agip Oil Company (NAOC), which was founded in 1960. The Nigeria Agip Oil Company conducts exploration and produces more than one thousand barrels of oil every single day.
The company has more than forty mining licenses, Majority of their exploration and production operations are carried out in the Niger Delta onshore as well as offshore, this is regardless of how shallow or deep they are.
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Addax Petroleum
Due to the fact that it began doing business in Nigeria as early as the year 1998, Addax Petroleum may claim to be one of the most established oil and gas company in that country.
Two product-sharing contracts have been signed by the Chinese group with 11 different field businesses and they have close to 110 producing wells. They, much like other major participants in the oil and gas business, primarily engage in oil exploration and the production of oil products using the resources that are at their disposal.
Oil and Gas Companies in Nigeria
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Equinor
Equinor comes in at number seven on our ranking of the biggest oil and gas companies. The international oil firm has several offices all over the world, particularly in the countries that produce oil.
In addition, Equinor has a number of deepwater fields, One of which being Agbani, one of the largest deposits in Nigeria. The Norwegian International oil company was founded in the 1990s and has an estimated value of $155 billion at the present day.
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Petrobas
Petrobas is yet another leading oil and gas firm in Nigeria that operates at an international level. The majority of the business’ efforts are concentrated on the acquisition, production, and distribution of oil, gas, and power. The oil businesses that are controlled by Brazil today have a combined value of $73 billion.
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9 – Nexen Inc.
The company previously known as Nexen Inc. is today regarded as being among the most successful crude oil firms in Nigeria. The oil and gas firm that got it’s start in Canada in 1971 has since expanded its activities to many other areas and nations, including West Africa and Nigeria.
Nexen Inc. has changed it’s name to CNOOC Petroleum, which is the Chinese acronym for China National Offshore Oil Corp. Over 20,000 barrels of oil are extracted from the ground every day, CNOOC Petroleum’s capacity has increased to 2 million since it received it’s license in 2012.
CNOOC Petroleum (formerly known as Nexen Inc.) has collaborated on exploration and other projects with the NNPC and other major oil firms including Chevron and Total.
Best Oil and Gas Companies in Nigeria
Before we proceed here are the top 10 palm oil producing states in Nigeria at the moment.
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Nigerian National Petroleum Commission (NNPC)
Nigerian National Petroleum Commission (NNPC) must be included in any top-ten list of the most successful oil and gas companies in Nigeria, otherwise, the list would not be considered comprehensive.
The Nigeria National Petroleum Corporation (NNPC) is the government agency responsible for overseeing the country’s oil and gas industries. Authorities make sure that businesses comply with the laws and regulations that are in place and they make sure that only acceptable activities are carried out.
The organization, which was established in 1977, collaborated with the majority of Nigeria’s oil and gas corporations to carry out activities like the exploration, refining, and wide-scale transportation of petroleum products. NNPC operates several refineries in a variety of oil-producing states and towns, including those in Port Harcourt and Delta, amongst others.
Top Oil and Gas Companies in Nigeria in 2024
The following is a list of the most prominent oil and gas firms in Nigeria;
- Shell
- Chevron Petroleum Nigeria Ltd
- ExxonMobil
- Total E&P Nigeria Ltd
- Nigeria Agip Oil Company (NAOC)
- Addax Petroleum
- Equinor
- Petrobas
- Nexen Inc.
- Nigerian National Petroleum Commission (NNPC)
Top Oil and Gas Companies in Nigeria in 2024
Conclusion
Although Nigeria is home to a large number of oil and gas businesses, we have limited our discussion to just the most prominent and successful ones. Since there are over 14,000 operational wells and 150 oil fields located in Nigeria, the nation as a whole was able to make a significant amount of money off of oil and gas.
As a result, Nigeria is now one of the largest producers of oil and gas in the world, as well as the largest producer in Africa. This brings us to the end of this article about List of Top Oil and Gas Companies in Nigeria via Afrokonnect. Hope you found what you were looking for, before you leave, you can also check out list of highest paying companies in Nigeria.
