NNPC To Set Up Bunkering Company

The Nigerian National Petroleum Corporation (NNPC) has revealed plans to set up a subsidiary to provide refuelling services to ships and other ocean-going vessels.

The proposal, set to strengthen the corporation’s activity on shipping business in Nigeria as well as foster profitability, was contained in a statement issued on Wednesday in Abuja by NNPC spokesman Ndu Ughamadu.

The group general manager NNPC Shipping, Aisha Katagum, said the new subsidiary will provide refuelling services to ships and other ocean-going vessels.

“Actually, the NNPC group managing director (GMD) is also very keen on that,” she told NNPC News.

“He has directed the corporate planning and strategy (CP&S) division to come up with a business model for us to see how it could operate.”

She added that the bunkering subsidiary is going to be a booming subsidiary in the long run, like others under NNPC shipping.

“I’m sure it’s going to be a big business because we have so many vessels that come into the West African Coast. This year alone, over 120 vessels have brought imports for us,” she said.

The statement also stated that Nikorma and Marine Logistics are two other downstream subsidiaries under the NNPC Shipping Division. While Nikorma engages in shipping and transportation of energy products, Marine Logistics, on the other hand, provides logistics services to the crude and petroleum products and gas sub-sector, with a mandate to effect demurrage reduction and ensure safe and efficient coastal distribution of petroleum products.