| Hyson (Nigeria) Limited |
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HYSON (Nigeria) Ltd /CALSON Bermuda Ltd which were formerly NNPC/Chevron Joint Venture, now NNPC/VITOL Joint Venture were established in August 1988 as subsidiaries of Nigerian National Petroleum Corporation (NNPC) with the following mission: "to be an International, Petroleum Trading Company with focus on the West and Central African Sub-Regions and beyond. The companies will serve as a vehicle for the development of Technical expertise on the downstream oil activities and will ensure profitable returns to its shareholders".
CALSON Bermuda LtdCalson was set up to market Nigerian Petroleum Products and Crude Oil to the West and Central African sub-regions and beyond. Its initial equity structure was 51%/49% NNPC/Chevron Joint Venture. HYSON (Nigeria) LtdHyson on the other hand was set up among others, to provide logistic and operational services to Calson. Its initial equity structure was 60%/40% NNPC/Chevron. However, on 1st January 1994, Chevron divested its interest to VITOL Energy (Bermuda) Limited (VEBL). Primary ActivitiesBoth Joint Ventures (JV’s) are primarily engaged in Trading Nigerian crude oil, Trading excess products from Nigerian Refineries and Petrochemical plants such as Fuel Oils, Virgin C5, AGO, LPG, etc, Importation of various petroleum products to augment shortfalls from domestic refineries production e.g PMS, DPK, AGO, LPG, etc, Importation of special crude grades for use by the Nigerian refineries e.g Basrah Light for the Kaduna refinery. PERFORMANCE VS OBJECTIVE1. 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.
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. Contact Address:Coscharis Plaza, |
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. 