Oil and gas are two of the most important natural resources in Nigeria, with the country being one of the largest oil producers in Africa.
The oil and gas sector in Nigeria plays a crucial role in the country’s economy, providing jobs and generating revenue for the government.
The top oil and gas companies in Nigeria are among the largest in the world, producing a significant amount of oil and gas every year.
From the national level to multinational corporations, we will be taking a look at some of the best oil and gas companies in Nigeria in this post.
So, without further ado, let’s get started with the first one below!
Top 20 Oil and Gas Companies in Nigeria in 2023
The best oil and gas companies in Nigeria in 2023 include:
1. NNPC
The Nigerian National Petroleum Corporation (NNPC) is the leading oil and gas company in Nigeria and one of the largest in Africa. It was established on April 1 1977 and has since played a crucial role in the development of Nigeria’s oil and gas industry.
The NNPC is responsible for the exploration, production, refining, and distribution of petroleum products in Nigeria. It is also responsible for the majority of the country’s oil production and is a major contributor to the government’s revenue.
The corporation also plays a vital role in the development of infrastructure, including pipelines, refineries, and terminals, which are critical to the success of the oil and gas industry in Nigeria.
2. Shell
Shell is one of the best oil and gas companies operating in Nigeria. It is widely recognized for its high standards of operational excellence, sustainability, and corporate responsibility.
The company has a long history in Nigeria, dating back to 1937, and has since become a major player in the country’s oil and gas industry.
Shell is involved in a wide range of activities in Nigeria, including onshore, shallow and deep water oil exploration, production, and refining. It is also involved in the distribution of petroleum products.
The company is committed to the safe and responsible extraction of Nigeria’s natural resources and has made significant investments in new technologies to reduce its impact on the environment. Shell is also a leader in the development of Nigeria’s natural gas sector, which is considered to be one of the most promising in the world.
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3. ExxonMobil
Having been in operation in the country for over 80 years, ExxonMobil is one of the top oil and gas companies in Nigeria. The company is widely recognized for its expertise in the exploration, production, and refining of petroleum products.
Also, it is one of the largest foreign investors in the country’s oil and gas sector.
ExxonMobil is known for its strict adherence to high standards of safety, environmental responsibility, and ethical conduct, making it one of the best oil and gas companies in Nigeria.
Additionally, the company has made significant investments in the development of Nigeria’s oil and gas infrastructure, including pipelines, terminals, and refineries, and has been instrumental in the growth of the country’s oil and gas sector.
4. Chevron
Chevron is another leading company in the oil and gas sector of Nigeria that is involved in oil exploration and production. The company operate under a joint-venture arrangement in concord with the NNPC and its operations are for both offshore and onshore assets in the Niger Delta.
Chevron is committed to the safe and responsible extraction of Nigeria’s natural resources and has implemented a number of measures to reduce its impact on the environment.
The company has also made significant investments in the development of alternative energy sources, such as natural gas, which are considered to be more sustainable and environmentally friendly.
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5. Nigeria AGIP Oil Company (NAOC)
Agip Oil Company is a subsidiary of the Italian oil and gas company ENI, which is one of the largest energy companies in the world.
Agip Oil Company operates in Nigeria and is involved in a wide range of activities in the country’s oil and gas sector. This includes exploration, production, refining, and distribution of petroleum products.
6. TotalEnergies
Total Energies is a French multinational integrated oil and gas company. It operates in more than 130 countries and is one of the largest oil companies in the world.
In Nigeria, Total Energies has been present for over 50 years and is involved in the exploration, production, and marketing of oil and gas.
The company has a significant presence in Nigeria’s oil and gas industry, with investments in offshore and onshore oil and gas fields, as well as a network of retail gasoline stations.
In addition to its oil and gas operations, Total Energies is also involved in renewable energy projects in Nigeria, such as solar and wind power.
7. Equinor ASA
Formerly known Statoil, Equinor ASA is a Norwegian multinational oil and gas company in Nigeria. It also operates in 29 other countries.
In Nigeria, Equinor has a strong presence in the oil and gas industry, with a focus on offshore exploration and production activities.
The company is involved in several joint ventures and partnerships with the Nigerian National Petroleum Corporation (NNPC) and other international oil companies, aimed at maximizing the development and production of Nigeria’s oil and gas resources.
In addition to its oil and gas operations, Equinor is also exploring opportunities in renewable energy in Nigeria, with a focus on developing wind and solar power projects. The company aims to be at the forefront of the transition to a low-carbon energy future and is committed to reducing its carbon emissions and helping to tackle the global challenge of climate change.
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8. Nexen Petroleum Nigeria Limited
Nexen Petroleum is one of the best oil and gas companies in Nigeria. The is a subsidiary of the Canadian energy company, CNOOC Limited. It is mainly focused on offshore exploration and production activities.
9. Matrix Energy
Established in 2004, Matrix is one of the fastest-growing oil companies in Nigeria. The company carries out multiple activities in the oil and gas industry including supply & distributions operation to fully integrated petroleum products marketing and trading.
10. NLNG
NLNG stands for Nigeria Liquefied Natural Gas Limited, which is a Nigerian company involved in the production and export of liquefied natural gas (LNG) and natural gas liquids (NGLs).
It was established in 1989 by the Nigerian Government with the aim of harnessing Nigeria’s abundant natural gas resources to create a reliable source of revenue for the country and improve the economic and social well-being of its people.
NLNG operates six trains with a total production capacity of 22 million metric tonnes per annum (MMTPA) of LNG and 5 MMTPA of NGLs, making it one of the largest LNG producers in the world.
The company exports its LNG and NGLs to countries in Europe, Asia, and North America, and is committed to responsible environmental management and community development.
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11. Devon Petrogas
Devon Petrogas is one of the newest Nigerian oil and gas companies. Unlike many other petroleum companies in Nigeria, the company delivers quality service both in the downstream and upstream segments of the oil and gas industry.
12. ConocoPhilips
ConocoPhilips is another top multinational oil and gas company that operates in Nigeria. The company has the largest independent energy company based on production and proved reserves.
Conocophilips use technology to maximize the production of existing resources and to develop areas that were previously thought to be unrecoverable. This makes them one of the top players in the oil and gas sector.
13. South Atlantic Petroleum (SAPETRO)
South Atlantic Petroleum (SAPETRO) is a Nigerian independent upstream oil and gas company established in 1995. It is headquartered in Lagos, Nigeria and operates primarily in the Niger Delta region of the country.
SAPETRO’s mission is to create value for its stakeholders by exploring, producing, and marketing oil and gas resources in an efficient and responsible manner.
The company has a portfolio of oil and gas assets in Nigeria, including production and exploration assets, and is committed to the sustainable development of Nigeria’s energy sector.
14. Pinnacle
Founded in 2004 with Head Quarters in Lagos, Pinnacle is an Indigenous Oil and Gas Company active across the entire downstream value chain.
The company is focused on the petroleum trading, marketing, distribution and retail segments of the Nigerian Oil and Gas Sector.
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15. Conoil
Founded by Mike Adenuga, Conoil Plc is a petroleum exploration and production company in Nigeria that extracts, produces and sells crude oil. It also supplies a range of lubricants and liquefied petroleum gas for use by the domestic and industrial sectors.
With its headquarters in Lagos, Conoil is present as a petroleum distributor across the country, as it has tons of filling stations in many States in Nigeria.
16. Rainoil Limited
Rainoil Limited is an integrated downstream company and a prominent player in the Nigerian oil and gas industry. The Rainoil Group comprises business operations that span across the downstream value chain.
These include retail sales, bulk storage, logistics and shipping petroleum, product storage, haulage/distribution, and retail sales.
17. Oando
Oando is one of the leading oil and gas companies in Africa that operates in Nigeria. As an international oil company, Oando is mainly focused on offshore projects.
The company portfolio of oil and gas fields is comprised also of interests in onshore across the Niger Delta basin and on the continental shelf.
18. Sahara Energy
Sahara Energy is a Nigerian energy company that operates in the upstream, midstream and downstream sectors of the oil and gas industry.
The company was founded in 1996 and has since grown to become one of the leading players in the Nigerian oil and gas industry.
In terms of its operations, Sahara Energy engages in the exploration and production of crude oil and natural gas, as well as the trading and marketing of refined petroleum products.
The company also operates in the power sector, providing electricity generation and distribution services.
19. Nestoil
Nestoil is a Nigerian indigenous company that provides engineering, procurement, construction, and commissioning services to the oil and gas industry.
The company has been operating in Nigeria for over three decades and has executed several projects for major oil companies such as ExxonMobil, Shell, NNPC, and Total.
Nestoil is a multi-award-winning company, and has made significant contributions to the development of Nigeria’s oil and gas sector by investing in local content and capacity building.
20. Forte Oil
The last on this list of Nigerian oil companies is Forte Oil. This company is a Nigerian integrated energy solutions provider, with operations spanning across the downstream, upstream, and power sectors of the oil and gas industry.
The company was founded in 1964 and has since grown to become one of the leading indigenous oil and gas companies in Nigeria.
Forte Oil’s downstream business involves the marketing and sale of refined petroleum products, lubricants, and liquefied petroleum gas (LPG). The company operates a network of over 500 retail service stations across the country, making it one of the largest fuel retailers in Nigeria.
In the upstream sector, Forte Oil is involved in the exploration and production of crude oil and gas. The company has interests in several oil blocks in Nigeria, including the Asuokpu/Umutu Marginal Field, where it is the operator.
Conclusion
The Nigerian oil and gas companies are involved in a wide range of activities, from exploration and production to marketing and distribution of petroleum products.
Despite the challenges facing the industry, including declining oil prices and security concerns, these companies have continued to make significant contributions to the Nigerian economy.
Additionally, their investments in local content and capacity building are helping to create jobs and drive economic growth in Nigeria. Overall, the top 20 oil and gas companies in Nigeria provided for you above are critical to the country’s energy sector and the wider economy.
