By Obas Esiedesa – Abuja The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed the open price of premium motor spirit, petrol, has risen to N256 per litre. With the present pump price of petrol pegged at N162 per litre, it means the government is subsidizing the product by […]

The Nigerian National Petroleum Corporation (NNPC) says smuggling across the borders has increased the daily consumption of Premium Motor Spirit (PMS) to 103 million litres per day in May. The Group Managing Director (GMD), NNPC, Mele Kyari, made this known at stakeholders meeting organised by the corporation to discuss how best to stop smuggling in […]

By Ikechukwu Nnochiri – Abuja The Abuja Division of the Federal High Court, on Monday, ordered the Nigerian National Petroleum Corporation, NNPC, and its Joint venture partner, Mobil Producing Nigeria Unlimited, to within 14 days, pay an aggregate sum of N82billion to communities in Ibeno Local Government Area of Akwa Ibom State. The court, in a judgement that […]

The Nigerian National Petroleum Corporation (NNPC) says it is currently considering equity participation in a number of private refineries in the country. The NNPC said the decision was in line with the Federal Government’s policy directive, which stipulates the mandatory participation of the corporation in any privately-owned refinery that exceeds 50,000 barrels per day capacity. […]

By Obas Esiedesa The Nigerian National Petroleum Corporation, NNPC, has moved to explain its recent bid to acquire 20 percent stake in the 650,000 barrels per day Dangote Refinery in Lagos, citing the need to ensure energy security for the country. The corporation in a statement its Group General Manager Group Public Affairs Division, Dr. […]