HYSON is a joint venture between NNPC and Vitol S.A., a Swiss International crude oil and products trading company. HYSON is in business to market Nigeria’s excess petroleum products in the West and Central African sub regions and elsewhere, and to also import various petroleum products (in collaboration with its sister company Calson Bermuda Ltd) in order to augment shortfalls from domestic refineries production e.g. PMS, DPK, AGO, LPFO, etc.
- Sale of LPG to domestic market as an NLNG Off-taker
- Sale of AGO, DPK, and LPFO to domestic market
- Logistic support to Calson
MISSION / VISION
The mission of the Joint Venture is to be an International Petroleum Trading Company with focus on the West and Central African sub-regions and beyond. The Company serves as a vehicle for the development of technical expertise on the downstream oil activities that ensures profitable returns to its shareholders.
- Acquire coastal storage depot
- Supply Bunker fuel to vessels operating within the West African sub region
- Trade in imported refined petroleum products in the domestic market through importation from neighbouring West African countries and Europe to take full advantage of the anticipated deregulation
- Explore areas of utilizing existing NNPC LPG depots across the country
- Engage in retailing of LPG in the domestic market in collaboration with one of the Major Petroleum Marketers with good spread of filling stations across the country
PERFORMANCE VS OBJECTIVE
1. Supply of crude oil to the refineries in Cameroon, Ivory Coast, Ghana and Senegal in its effort to penetrate the West and Central African sub-regions
In the early 90’s through the combination of 3rd party processing at Port Harcourt Refinery and surplus products from PPMC, the JV routinely exported clean products to other West African countries.
2. In its efforts to ensure substantial improvement in the export of surplus petroleum products from Nigeria and in particular the new Port Harcourt Refinery, the JV debottlenecked the Okrika Jetty and PHRC LPG evacuation facilities at a cost of over $1.5 million. This effort, utilizing NETCO (another subsidiary of NNPC) as the contractor, saved NNPC significant demurrage costs and facilitated faster and more efficient products evacuation by the JV and other exporters. It also improved coastal vessels turn around time.
3. The JVs entered into a contract with EPCL to evacuate and export Virgin C5+, which would have been flared thereby constituting environmental pollution and a waste of the product.
4. In fulfillment of another of its objectives, the JV successfully and profitably processed 3 million barrels of crude oil at PHRC between January 1990 and February 1991. The J.V. has also processed at the SIR refinery in Abidjan, Cote d’ Voire. The J.V’s ability to process within Nigeria depends upon the availability of surplus processing capacity in the refineries.
5. In recent times, due to impediments in the business environment, the Joint Venture has diversified into the LPG sector of the oil and gas industry. Indeed, due to the deregulation of this sector by the Federal Government, the local demand has increased. It is pertinent to mention that in 2006, Hyson imported about 35,000MT of LPG into the local market, out of the 75,000 MT consumed, thus making her the largest importer of LPG in the country.
STRUCTURE /DEPARTMENTS /UNITS
- Managing Director (MD)
- Finance & Accounts
- Admin & HR
- Executive Director (Operations)
- Commercial Department
- Operation / Logistic Department
STRUCTURE /DEPARTMENTS /UNITS
Business Performance 2010 - 2012
HYSON (Nigeria) Limited (NNPC / Vitol Joint Venture)
4th Floor, Ceddi Plaza,
Plot 264, Tafawa Balewa Way,
Central Business District, Abuja, FCT, Nigeria.
Tel: +234 (0) 9 – 4618118, Fax: +234 (0) 9- 4618119
HYSON (Nigeria) Limited
No 2, Nansen Court,
‘B’ Close, Off Borno Close,
Banana Island, Ikoyi,
Tel : +234 (0) 1- 4610760-9, 2618057, 2610604