2019 Financials: Value of NNPC’s oil, non-oil assets grew by 19% to N4.67trn
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 […]
Cabal hijacked Subsidy regime — NNPC Boss
Says FG wastes over N10 trillion on Subsidy By Ibrahim HassanWuyo Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari, has said that over N10 trillion was spent on fuel subsidy between 2006 and 2020 without a significant impact on the masses. Also, the subsidy regime was affected by marketers who were smuggling […]
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.
