The Nigerian National Petroleum Company Limited, yesterday, said the company would be ready for its initial public offering (IPO) by December as international oil companies (IOCs) raised concerns about the company’s over 13 billion barrels of crude oil deepwater assets. Speaking at the Nigerian Oil and Gas conference, Executive Vice President, Upstream at NNPC, Oritsemeyiwa Eyesan, said the company is completing plans in December to be listed on the stock market. While NNPC was commercialised in 2022 through the Petroleum Industry Act, part of the expectations was that the company would become very transparent, accountable and consistently profitable for IPO.
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