The discovery of oil in the Niger Delta region during the 1950s propelled Nigeria, then considered a developing nation, onto the global stage. This valuable resource, often referred to as “black gold,” sparked what is historically known as the “Oil Boom.” By the late 1960s, Nigeria experienced a dramatic surge in oil production and revenue, fueled by rising global demand and prices. This transformation contributed to the country’s economic development and growth.
In this article, we will delve into the top ten oil and gas companies in Nigeria. These industry leaders not only drive technological advancements but also play a crucial role in the overall economic progress of the nation.
Top Oil and Gas Companies in Nigeria.
- Nigerian National Petroleum Company
- Exxon Mobil
- Shell Nigeria
- Chevron Corporation
- Total Energies
- Ardova Plc
- Midwestern Oil & Gas Company
- Oando
- LekOil Nigeria Limited
- Addax Petroleum
The Nigerian National Petroleum Corporation (NNPC) is the state oil corporation responsible for the exploration, production, and marketing of oil and gas resources in Nigeria. As the largest oil producer in the country, NNPC plays a critical role in the economy. The corporation engages in various activities, including crude oil production, refining, and distribution of petroleum products.
Office Location: Ikeja, Lagos
Team Size: 100 – 600 Employees
Year founded: 1977
ExxonMobil, one of the largest publicly traded oil and gas companies in Nigeria, has been operating in the country since the 1900s. The company is involved in various aspects of the oil and gas industry, including exploration, production, and refining. In Nigeria, ExxonMobil focuses on offshore oil production, providing a range of products such as crude oil, natural gas, and petrochemical derivatives.
Office Location: Lagos, Nigeria
Year founded: 1900s
Team Size: 5000 Employees
Shell has been operating in Nigeria since 1937 and is one of the largest oil and gas producers in the country. The company is engaged in various sectors of the oil and gas industry, including exploration, production, refining, and distribution.
Shell offers a wide range of products, including crude oil, natural gas, and petrochemicals, and is committed to sustainable development and community engagement.
Office Location: Lagos, Nigeria.
Year founded: 1937
Team Size: 1000 – 5000 employees
4. Chevron Corporation
Chevron has a significant presence in Nigeria, having established operations in the country in 1913. As one of the leading integrated energy companies globally, Chevron engages in all aspects of the oil and gas industry, including exploration, production, and refining. In Nigeria, Chevron produces crude oil, natural gas, and various refined petroleum products, while also emphasizing sustainable practices and community development.
Office Location: Lagos, Nigeria
Year founded: 1913
Team Size: 200 – 1000 employees
5. Total Energies
TotalEnergies, has been a prominent player in Nigeria’s oil and gas sector for decades. The company is involved in exploration, production, and refining, with a focus on both conventional and renewable energy sources. TotalEnergies provides a variety of petroleum products, including crude oil, natural gas, and fuels, while prioritizing sustainability and environmental responsibility in its operations.
Office Location: Lagos
Year founded: 1924
Team Size: 1000- 5000 employees
6. Ardova Plc
Starting as AP Oil and Gas, Ardova PLC has evolved into a key player in Nigeria’s energy sector. The company is involved in the marketing and distribution of petroleum products, including fuel, lubricants, and gas.
Ardova also invests in renewable energy solutions, making strides toward sustainable energy. Their extensive service stations and distribution networks ensure accessibility across Nigeria.
Office Location: Lagos, Nigeria
Year founded: 1965
Team Size: 7000 Employees
7. Midwestern Oil and Gas Company
Established in 1994, Midwestern Oil and Gas is an independent oil exploration and production company focused on Nigeria’s onshore fields. The company is known for its participation in the OML 34 license, which has significant oil reserves. Midwestern offers services in oil exploration, production, and development, and is dedicated to sustainable operations and community involvement.
Office Location: Lagos, Nigeria
Year founded: 1994
Team Size: 1000 employees
8. Oando
Oando operates across the entire oil and gas value chain, including exploration, production, refining, and distribution. Key products offered by Oando include crude oil, natural gas, gasoline, diesel, and lubricants. With a commitment to sustainable energy practices, Oando also focuses on renewable energy initiatives and strives to support economic development in the regions where it operates.
Year founded: 1965
Office Location: Lagos, Nigeria
Team Size: 1000 employees
9. Lekoil Petroleum
Lekoil is an independent oil and gas exploration and production company with a focus on Nigeria. The company is primarily engaged in the exploration and development of oil and gas resources in Nigeria and the surrounding region.
Lekoil aims to optimize production through innovative technologies and strategic partnerships, offering services that include oil exploration, production, and development of oil fields.
Office Location: Lagos, Nigeria
Year founded: 2010
Team Size: 100 – 500 employees
10. Addax Petroleum
Addax Petroleum was established in the 1990s, as a subsidiary of the Sinopec Group, focused on oil and gas exploration and production. The company operates primarily in Nigeria and is known for its expertise in deep-water and onshore oil fields.
Addax offers a range of services, including oil exploration, production, and project development, with a commitment to sustainable practices and community engagement. Office Location: Lagos, Nigeria
Year founded: 1994
Team Size: 501 – 1500 employees
In conclusion, Nigeria’s oil and gas sector stands as a cornerstone of the country’s economy, powered by the expertise and contributions of its leading companies. Each of the top ten companies discussed, from the state-owned Nigerian National Petroleum Corporation (NNPC) to prominent multinationals like ExxonMobil, Shell, and Chevron, as well as indigenous companies such as Oando and Midwestern Oil & Gas, play an essential role in driving the industry forward. Together, these organizations contribute to the discovery, extraction, and refining of petroleum resources, a critical source of revenue and economic stability for Nigeria.
The diversity in scale and specialization of these companies—from multinational giants to independent players—demonstrates the sector’s adaptability and resilience. While some companies, such as Shell and Chevron, focus on offshore drilling and massive production capabilities, others, like Ardova and Midwestern Oil & Gas, concentrate on distribution, local markets, and sustainable practices. The involvement of companies like TotalEnergies and Oando in renewable energy initiatives further highlights the industry’s gradual shift towards sustainability, reflecting a growing recognition of environmental responsibilities and the need for future energy diversification.
Each company’s commitment to sustainability, community engagement, and technological advancement contributes to Nigeria’s economic growth and infrastructure development. Moreover, the substantial employment these companies provide across various regions underscores their socio-economic impact, bringing benefits beyond mere revenue generation. However, the oil and gas sector faces challenges, including environmental concerns, regulatory pressures, and the imperative to transition towards cleaner energy sources.
Going forward, these companies will need to balance growth with sustainability, addressing environmental challenges and adapting to the global shift towards renewable energy. By doing so, Nigeria’s oil and gas sector can continue to drive economic growth while paving the way for a more sustainable energy future.
