The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, said that President Muhammadu Buhari never interfered in the operations of the Corporation. Kyari disclosed this at a media interaction with National Association of Energy Correspondents in Abuja, on Friday. He said that the corporation had the full support of the […]

The Nigerian National Petroleum Corporation (NNPC) has announced N153.17 ex-depot price for Premium Motor Spirit (PMS) also known as petrol for the month of November. The corporation announced this in a statement signed by its spokesman, Dr Kennie Obateru, in Abuja on Friday. The ex-depot price is the amount at which the depot owners sells […]

By Michael Eboh The Nigerian National Petroleum Corporation, NNPC, Friday, disclosed that despite the increase in the Ex-depot price of Premium Motor Spirit, PMS, to N155.17 per litre by its subsidiary, the Petroleum Products Marketing Company, PPMC, oil marketers who patronise its online platform would purchase the product at N153.17 per litre. In a statement […]

By Tordue Salem, Abuja The House of Representatives Committee on Public Accounts is piqued by the refusal of the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari to respond to appear before the House and answer to the audit query issued to the Corporation by the Auditor General of the Federation […]

The Nigerian National Petroleum Corporation (“NNPC”) and  FIRST Exploration and Petroleum Development Company (“FIRST E&P”) Joint Venture is pleased to announce the commencement of  oil production from the Anyala West field in Oil Mining Leases (OMLs) 83 & 85. OMLs 83 & 85 are in the shallow waters offshore Bayelsa State (Nigeria) where FIRST E&P […]

By Godwin Oritse, with agency report Nigerian National Petroleum Corporation, NNPC,has  issued a notice warning its clients and other stakeholders that the Nigerian Navy will investigate, and will  arrest ships that switch off their Automatic Identification system,  AIS,  when operating in Nigerian waters. It further reminds masters of their obligations under SOLAS Reg.V/19 to maintain […]

By Michael Eboh The net asset value of the Nigerian National Petroleum Corporation’s, NNPC, oil and non-oil assets appreciated by 18.53 per cent to N4.67 trillion in 2019, from N3.94 trillion recorded in its 2018 financial year. NNPC’s oil and non-oil assets, according to its recently published 2019 Audited Financial Statement, included evaluation and exploration […]

By Michael Eboh At the backdrop of the huge costs and losses attributable to product theft and facility vandalisation, the Nigerian National Petroleum Corporation, NNPC, has indicated that it would still be financially stable in the current year to next year. The national oil firm also indicated that its operations would not be fundamentally hampered […]

By Sebastine Obasi The completion of the 5,000 barrels per day modular refinery located at Ibigwe, Ohaji/Egbema Local Government Area of Imo State, has been described as a landmark achievement of Waltersmith Petroman Oil Limited. The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mele Kyari, who was represented by Yusuf Usman, Chief Operating […]

…Losses accumulate to N1.5trn By Michael Eboh Independent auditors and management of the Nigerian National Petroleum Corporation, NNPC, have raised doubts over the ability of the corporation to continue as a going concern, following rising losses and negative capital as a result of excess of liabilities over its assets as stated in its recently published […]

The Nigerian National Petroleum Corporation (NNPC) has commiserated with the Lagos State Government and victims of the tanker explosion which occurred on the Otedola Bridge in the early hours of Saturday, Oct. 17, 2020. The Group Managing Director of NNPC, Malam Mele Kyari, in a statement signed by the Corporation’s Group General Manager, Group Public […]

…N803bn loss recorded in 2018 By Michael Eboh The Nigerian National Petroleum Corporation, NNPC, Thursday, announced the release of its 2019 Audited Financial Statement, declaring a loss of N1.7 billion, representing a 99.7 per cent decline from a loss of N803 billion recorded in 2018. In a statement in Abuja, the NNPC further stated that […]

The Nigerian National Petroleum Corporation (NNPC) says it has recorded a 99.7 per cent reduction in its loss profile from ₦803billion in 2018 to ₦1.7billion in 2019. NNPC disclosed this in its 2019 Audited Financial Statement (AFS), released by Dr kennie Obateru, spokesman for the corporation, in Abuja, on Thursday. It will be recalled that […]

By Michael Eboh Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, on Tuesday, stated that the deregulation of the downstream sector of the oil and gas industry in Nigeria will increase investment in the refining business and facilitate exponential growth in the nation’s refining capacity. In a statement in Abuja, […]

By Mike Eboh The Nigerian National Petroleum Corporation, NNPC, on Tuesday, said it is focusing on growing the nation’s domestic gas utilization for balanced economic growth. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, restated the NNPC’s commitment to the aggressive implementation of the Nigerian Gas Master Plan as […]