The Federal Government, Wednesday, granted financial autonomy to some Joint Venture (JV) oil companies, giving the JVs control over their budget, empowering them to source for funds and remit taxes, royalties and dividends to the government.

The Nigerian National Petroleum Corporation (NNPC), Tuesday, called on Nigerians to desist from panic buying of Premium Motor Spirit (PMS), also known as fuel, stating that it has about 23 days of product supply in all its depots across the country.

By Favour Nnabugwu Abuja—Nigeria’s Vice President, Prof Yemi Osinbajo, yesterday, said the current administration was not in a rush to removing fuel subsidy. Prof. Osibanjo in an interview with CNBC Africa, said the federal government would deal with the challenges of the country’s refineries, admitting that the Nigerian National Petroleum Corporation, NNPC, had serious problems […]

President Muhammadu Buhari in New York, United States of America on Sunday stated that the prosecution of those suspected to have looted the treasury of Nigerian National Petroleum Corporation, NNPC, will begin soon.

The Nigerian National Petroleum Corporation, NNPC, yesterday, reiterated its resolve to, within the next couple of weeks, commence the review of the fiscal terms of its existing deep offshore Production Sharing Contracts, PSC, with some International Oil and Gas Companies operating in Nigeria.

The Nigerian National Petroleum Corporation, NNPC, has signed an interim crude oil swap contract with four companies that is expected to last from October to December 2015.

THE Nigerian National Petroleum Corporation (NNPC) recently cancelled crude oil swap contracts and Offshore Processing Contracts, which it entered into with traders under the previous administration of President Goodluck Jonathan. The Corporation in a statement also announced new measures aimed at cost reduction and strengthening of operational efficiency across its value chain

Hopes for the Federal Government divesting its interest in the nation’s refineries, as being expected were dashed, yesterday, as the Nigerian National Petroleum Corporation, NNPC, said the facilities are not for sale.

The Nigerian National Petroleum Corporation (NNPC), Wednesday, stated that it has commenced the‎ unbundling o‎f the Pipelines and Products Marketing Company, PPMC, into three different companies — a storage, pipelines and products marketing companies.

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr Emmanuel Kachikwu has disclosed that oil theft would be eradicated in the next eight months as the corporation has put in place measures to check the menace and bring perpetrators to book.