The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, has described the reoperationalisation of the Port Harcourt Refinery and Petrochemical Company as a huge waste of resources, admitting that the national oil company currently lacks the capacity to run refineries profitably.

Nigeria’s oil governance has again come under public scrutiny following President Bola Ahmed Tinubu’s approval of the write-off of about $1.42 billion and N5.57 trillion in legacy debts owed by the Nigerian National Petroleum Company, NNPC, Limited to the Federation Account. According to the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, October 2025 Revenue Collection Report, […]

THE African Democratic Congress (ADC) has accused President Bola Ahmed Tinubu of unlawfully approving the cancellation of legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, warning that the decision violates the Constitution and deprives states and local governments of revenue due to them.

In its monthly report released on Wednesday, NNPC Ltd revealed that despite the drop in revenue, profit after tax rose by 12.3 per cent to N502 billion in November, compared with N447 billion recorded in the preceding month.

The NNPC Limited has concluded plans to sell stakes in some of its oil and gas assets and has invited bids from interested parties. The general secretary of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Jerry Amah, confirmed the development to Reuters.

The Nigerian National Petroleum Company Limited (NNPCL) has set its crude oil production target for 2026 at more than two million barrels per day.

NNPC Limited has announced that its upstream subsidiary, NNPC E&P Limited (NEPL), reached a historic oil production milestone of 355,000 barrels per day (bpd) on December 1, 2025 — the company’s highest daily output since 1989.

The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of premium motor spirit (PMS), also known as petrol, across its retail outlets in Lagos and Abuja.

THE NNPC Limited committed N7.1 trillion into energy security, including petrol subsidy in 2024, up from N4.8 trillion in 2023, indicating an increase of 47.92 per cent.

The Nigerian National Petroleum Company Limited (NNPC) has reported a profit after tax of N5.4 trillion for the 2024 financial year, a 63.6% increase from N3.3 trillion recorded in 2023.