PIA: NNPC Merges Subsidiaries, Renames Others
The Nigerian National Petroleum Company Limited (NNPC) has collapsed some of its subsidiaries in a bid to assume its new status as a commercially driven business entity.
After the renaming of the National Petroleum Investment Management Services (NAPIMS), as the NNPC Upstream Investment Services (NUIS), earlier , a number of the company’s business units and subsidiaries have now been merged.
With the development, NUIS has now added a segment of the erstwhile Crude Oil Marketing Division (COMD), while the Nigeria Petroleum Development Company (NPDC) has been restructured and renamed NNPC Exploration and Production Limited (NEPL).
To adjust to its new operations under the Petroleum Industry Act (PIA), the Integrated Data Services Limited (IDSL), NNPC Oilfield Services Ltd, Frontier Exploration Services have also been merged to form NNPC Energy Services Ltd under the new nomenclature, NNPC Enserve.
Furthermore, the National Engineering and Technical Company (NETCO) is now a full-fledged Engineering, Procurement and Construction (EPC) company under the brand name NNPC Engineering & Technical Company (NETCO).
On July 19 this year, the NNPC was officially unveiled as a limited liability company operating under the Companies and Allied Matters Act (CAMA), after being tied to the apron strings of the federal government for about 45 years.
Earlier, the state oil company had named five executive vice presidents, with the Group Executive Director, Upstream, Adokiye Tombomieye being made the Executive Vice President (Upstream), while the Group Executive Director, Downstream, Mr. Adeyemi Adetunji took the role of Executive Vice President (Downstream).
Also, the Executive Director, Gas and Power, Abdulkabir Ahmed, became the Executive Vice President, Gas, Power and New Energies; while Inuwa Danladi was named the Executive Vice President, Business Services.
In the same vein, Mrs. Oritsemeyiwa Eyesan took the role of Executive Vice President, Corporate Strategy and Sustainability; while Chidi Momah became the General Counsel for the national oil company.
