The role of NNPC and OPEC in the oil sector - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

The full meaning of NNPC is?

A. Nigerian National Population commission
B. Nigerian National Petroleum Corporation
C. National Number of Petroleum Companies
D. None of the above

Question 3:

• JAMB 2015

The headquarter of the Organization Of Petroleum Exporting Countries (OPEC) is in

A. Paris, France
B. Geneva, Switzerland
C. Lagos, Nigeria
D. Vienna, Austria

Question 4:

• JAMB 2014

The major contribution of OPEC to the Nigerian economy is the

A. Provision of social infrastructures
B. Granting of subsidies on petroleum products
C. Stabilization of oil prices
D. Building of refineries

Question 5:

• JAMB 1994

An indigenous company wholly owned by the federal government of Nigeria which currently engaged in prospecting for oil is?

A. The Nigerian National Oil Company
B. Peak Petroleum Industries Nigeria Limited
C. Nigeria Exploration and Production Company
D. The Nigeria National Petroleum Corporation