Top 10 Highest Paying Oil Company in Nigeria 2022/2023;-Nigeria is a country that has experienced oil boom in the past few years. The country has realized its potential as an oil producing nation and is now one of the largest exporters of crude oil in Africa. Nigeria’s economy relies on its oil industry, which contributes about 90% of foreign exchange earnings from exports
Top 10 highest paying oil company in Nigeria
- NNPC
- Chevron Nigeria Limited
- Total Exploration and Production Nigeria Limited (TXP)
- ExxonMobil Nigeria/ExxonMobil Exploration and Production Company (EXESCO) – Agip Energy & Natural Resources, a Nigerian subsidiary of ENI S.p.A., Italy
- Shell Petroleum Development Company of Nigeria Limited
- Agip Energy and Natural Resources, a Nigerian subsidiary of ENI S.p.A, Italy
- Petrobras E & P Nigeria Limited
- Addax Petroleum Development (Nigeria) Ltd
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Allied Energy resources Ltd (Gazprom)
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SINOPEC International Petroleum Exploration and Production Corporation (SIPC)
1. NNPC (Nigerian National Petroleum Corporation)
The Nigerian National Petroleum Corporation (NNPC) is the largest oil company in Nigeria. It has been operating since 1958 and produces crude oil, natural gas and liquefied petroleum gases from its oilfields in Oyo State.
The NNPC was established as a public limited company under Section 168 of the Companies Act No. 19 of 1967 with headquarters at Abuja where it has other offices including Lagos Office and Port Harcourt Office as well as International Petroleum Investment Company Limited (IPIC).
2. Chevron Nigeria Limited
Chevron Nigeria Limited is a subsidiary of Chevron Corporation, an American multinational energy corporation based in San Ramon, California. It was founded in 1956 and has its headquarters in Lagos, Nigeria.
The company supplies oil products to industries including transportation and refining; chemicals; plastics processing; petrochemicals production; power generation facilities such as power plants or refineries; light duty vehicles such as passenger cars or trucks (both new models).
3. Total Exploration and Production Nigeria Limited
Total Exploration and Production Nigeria Limited (TEPNG) is a Nigerian subsidiary of Total S.A., an international oil and gas company based in France. It was incorporated by the Federal Ministry of Petroleum Resources on April 27, 2000 with effect from May 1, 2000 as a public limited liability company under Section 52(2) of the Petroleum Industry Act No 14 (PHN 14).
TEPNG operates in all areas where petroleum resources are found in Nigeria including deepwater fields offshore, onshore conventional and unconventional plays such as shale gas development projects for which it has been awarded contracts by Shell Oil Company Limited (SOCL), Chevron Corporation (CVX) among others; exploration activities for finding new producing zones around existing producing fields; production enhancement operations such as boosting production from existing wells through installation of advanced technologies such as fracking etc.; export marketing activities like preparing feasibility studies for potential foreign investment into Nigeria’s energy sector through joint ventures with foreign firms interested in investing here.”
4. ExxonMobil Nigeria
ExxonMobil Nigeria is a subsidiary of Exxon Mobil Corporation. It is the largest oil company in Nigeria and has been ranked as one of the top 5 private oil companies in Africa by Forbes Magazine.
ExxonMobil operates several operating units including exploration & production, refining & marketing, and transportation services like pipeline construction & maintenance or marine transportations.
ExxonMobil is committed to providing value to its employees and customers. It has a strong safety record and has been named a Top Employer in Nigeria by the WorldatWork International Network of Workplace Professionals.
5. Shell Petroleum Development Company of Nigeria Limited
Shell Petroleum Development Company of Nigeria Limited is a multinational oil and gas company headquartered in Bayelsa, Nigeria. It is the largest refiner in West Africa and one of the largest employers in Nigeria.
Shell established its presence in Nigeria through acquisition of assets from Royal Dutch Shell PLC (RDS-P) which included an 80% stake in Nigerian production rights operator, NNPC as well as exploration blocks onshore and offshore along with all know-how for exploration activities across Niger Delta region which includes all licenses issued by Nigerian government since independence until today.
In addition to its core businesses, Shell has been involved with various projects under the umbrella term “Oil Industry Transformation Programme” where they have committed over $1 billion to develop technology solutions related to upstream exploration & production such as deep-water drilling; shale exploration technology; deep sea subsea wells etc., which will help them meet their goal towards increasing production levels while reducing costs associated with operating these facilities globally.
6. Agip Energy and Natural Resources, a Nigerian subsidiary of ENI S.p.A, Italy
Agip Energy and Natural Resources, a Nigerian subsidiary of ENI S.p.A, Italy, operates in the Niger Delta. The company discovered oil in 1975 and began production in 1984. In 2015 it produced more than 2 million barrels per day (bpd). By 2020 it aims to raise output to 5 million bpd.
Agip Energy has five refineries on Nigeria’s coast which process crude oil into various products such as gasoline and diesel fuel; asphalt; liquid petroleum gas (LPG); lubricants; petrochemicals such as ethylene glycols used for polyester fiber production; paraffin waxes used for making candles or soap bubbles; surfactants like sodium lauryl sulfate (SLS) which help remove dirt from clothing when washing them at home
7. Petrobras E & P Nigeria Limited
Petrobras E & P Nigeria Limited is a subsidiary of Petrobras, the largest company in Brazil. It was incorporated in June 2000 and operates as an integrated oil company with activities in the upstream, midstream and downstream segments.
The company’s principal business activities include exploration for crude oil, natural gas and renewable energy resources; production of petroleum products; marketing of refined products; transportation services for crude oil and natural gas liquids (NGL) through pipelines or onshore pipelines; refineries; distribution networks for crude oil and NGLs as well as other related products such as gasoline blending components etc., among others
8. Addax Petroleum Development (Nigeria) Ltd
Addax Petroleum Development (Nigeria) Ltd. is a subsidiary of the Addax Group, a global oil and gas company based in Switzerland. It is one of the leading international oil companies in Nigeria and also operates across West Africa.
Addax Petroleum Development (Nigeria) Ltd was incorporated on April 13th 2003 under section 9(1)(b) of Companies Act No 888 (1956). The company commenced operations from its headquarters at Ibadan after becoming an offshore oilfield operator with three existing assets; namely North-West Block 4 production sharing contract (PSC), South Gwarim Village Lease Contract PSC & Simba Exploration Permit #1 Lease Contract PSCs covering five producing wells operated by two operators respectively: ChevronTexaco International Nigeria Limited & Shell Nigeria Limited respectively.”
9. Allied Energy resources Ltd (Gazprom)
Allied Energy resources Ltd (Gazprom) is a subsidiary of Gazprom, the largest oil and gas company in the world. The company was founded in 2002 by the Russian state company Gazprom and is based in London. It owns interests in many fields across Africa, including Nigeria’s deep-water block OML 106 along with several other blocks that are under development or exploration stages.
10. SINOPEC International Petroleum Exploration and Production Corporation (SIPC)
SINOPEC International Petroleum Exploration and Production Corporation (SIPC) is a Chinese state-owned oil and gas company that operates in Nigeria. It was founded on June 1, 1993 as Sinopec Refining & Distribution Ltd., which later became known as Sinopec Nigeria Ltd. The company’s headquarters are located at Lagos, Nigeria; the shares are listed on the London Stock Exchange (LSE).
As of May 2018, it had 35 billion barrels of proved crude oil reserves (as measured by Oil & Gas Journal), making it the largest producer in Nigeria with an additional 16 billion barrels of undiscovered natural gas resources. Its market capitalization has reached $2.6 billion; consequently it ranks #10 among Nigerian companies on Forbes’ list of most valuable brands around the world
Conclusion
The oil industry is an important source of income for Nigeria, and many companies have been investing in it. In fact, the country has so much oil that it can’t keep up with demand. This means that there are plenty of opportunities for companies like Chevron Nigerian Limited to make money by finding new sources or exploring existing ones
