Cost of pipeline vandalisation, oil theft hit N159bn in 1 year
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 […]
Private investors to finance rehab of NNPC’s downstream assets – Kyari
…NNPC to pay for use of pipelines By Michael Eboh The Nigerian National Petroleum Corporation, NNPC, weekend, disclosed that private investors would be engaged to finance the rehabilitation and replacement of its aging downstream assets across the country, especially petroleum pipelines. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, […]
NNPC trading surplus rises by 860% to N20.4bn in one month
By Michael Eboh The Nigerian National Petroleum Corporation, NNPC, Thursday, announced a trading surplus of N20.36 billion in July 2020, rising by 860 per cent from a surplus of N2.12 billion recorded in June. In a statement on its Monthly Financial and Operations Reports for July 2020, Group General Manager, Group Public Affairs Division of […]
NNPC set to revive refineries
By Sebastine Obasi The long wait for the rehabilitation of Nigeria’s ailing refineries may soon end, if the promise of the Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Mr. Mele Kyari, is anything to go by. Kyari had stated that the nation’s four refineries, with a combined capacity of 445,000 barrels per day, […]
NNPC moves crude oil swap contracts by 6 months
The Nigerian National Petroleum Corporation, NNPC, may have extended its contracts with private oil firms to swap crude oil for petrol by 6-months.
NNPC legal team saves Nigeria $5.04bn in four court victories
By Michael Eboh The Nigerian National Petroleum Corporation, NNPC, Wednesday, disclosed that its legal team won four major court cases bordering on disputes surrounding oil wells and export terminals that helped the country saved Nigeria N5.04 billion. In a statement in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, […]
