The position of Conoil as a frontline player in the downstream petroleum industry has attracted to the company series of awards from reputable quarters in recognition of its managerial excellence, professional competence and best practices which have raised standards in the industry.
Conoil is reputed for maintaining an outstanding record of operational efficiency and introducing innovations that have changed the face of the downstream business in Nigeria. Also remarkable is the company’s penchant for introducing groundbreaking initiatives, as well as its commitment to world-class standards, sustainable growth, improved customer service delivery and consistent robust return on investment.
Conoil’s excellence awards include:
- Company of the Year 2005
- Lubricant Manufacturer of the Year 2005
- Oil Marketing Company of the Year 2006
- Lubricant Manufacturer of the Year 2006 (Quatro)
- Oil Company of the Year 2005
- The Institute of Direct Marketing of Nigeria Africa's Merit Award of Excellence in Lubricant and Industrial Chemicals Marketing Service 2005
- Pearl’s Stock Market Award for the Highest Share Price Appreciation 2003
- Pearl’s Sectoral Leadership Award (Petroleum Marketing) 2003
- Pearl’s Winner of the Overall Highest Award (The Pearl) of the Nigerian Stock Market
Conoil has a rich history of transformation and pacesetting innovations spanning the long years of its operations in the downstream oil industry in Nigeria.
1927Conoil began operations under the name Shell Company of Nigeria (SCN).
1938SCN transferred its interest to Shell Company of West Africa (SCWA).
1939The Oil Storage Company of Apapa (OSCA), Lagos was established for the sole purpose of storage and distribution of petroleum products.
1954The installation plant at Apapa, Lagos was built to give the company the much-needed leverage in storage, blending and distribution of petroleum products.
1956The company opened Nigeria’s first Bitumen Plant at Apapa, Lagos.
1957The company commenced the production and marketing of chemicals.
1962A second Bitumen Plant was opened in Port Harcourt, Rivers State, Nigeria.
1960Shell Company of West Africa was changed to Shell Company of Nigeria Limited, having been incorporated as a private limited liability company, with interest entirely on marketing of petroleum products in Nigeria. It was later re-constituted and incorporated as Shell Nigeria Limited, in compliance with the Federal Republic of Nigeria’s Companies Decree of 1968.
1975The Federal Government of Nigeria and Shell Nigeria Limited signed an agreement in Lagos, which resulted in the birth of a new jointly owned company called National Oil and Chemical Marketing Company (NOLCHEM). Government acquired 60 per cent shares through the Nigerian National Petroleum Corporation (NNPC); and Shell, 40 per cent.
1975The name, National Oil and Chemical Marketing Company Limited, was officially registered under the Companies Decree of 1968 to replace Shell Nigeria Limited; while the former Shell emblem was replaced by the "Eagle”.
1989National Oil and Chemical Marketing Company Limited was registered with the Nigerian Stock Exchange (NSE) as a public liability company, in line with the Federal Government of Nigeria’s privatization programme. The name then changed to National Oil and Chemical Marketing Plc, with Shell retaining its 40 per cent interest, while the NNPC cut its holdings to 40 per cent and left the remaining 20 per cent for the Nigerian public.
2000The Federal Government, under its privatisation programme, sold 60% of the 80% equity it jointly held with Shell to a new core investor, Conpetro Limited. The Nigerian public owns the rest 20% shares.
2002The name, Conoil Plc, was adopted. The logo also changed from the "Eagle” to an icon that represents the company's commitment to acceptable practices in its business operations and to a bright and prosperous future.
Conoil pioneered the use of non-space pumps in the dispensing of fuel in filling stations in Nigeria.