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. […]

…sold 1.41bn litres of petrol in one month By Prince Okafor The Nigerian National Petroleum Corporation (NNPC) has disclosed that its trading surplus for the month of February 2021 increased to N39.85 billion. This is an increase of 314.24 percent  when compared to N9.62 billion surplus recorded in the preceding month under review. Trading surplus […]

The Nigerian National Petroleum Corporation (NNPC) says that 54 petroleum pipeline points were vandalised in February 2021. The Corporation disclosed this on its Monthly Financial and Operations Report (MFOR) for the month of February released in Abuja, on Thursday. It said the number represented 50 per cent increase from 27 points recorded in January this […]

***sold 1.41bn litres of petrol in one month By Prince Okafor The Nigerian National Petroleum Corporation (NNPC) has disclosed that its trading surplus for the month of February 2021 increased to N39.85 billion. This is an increase of 314.24 per cent when compared to N9.62 billion surplus recorded in the preceding month under review. Trading […]

The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. The partners are Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration. and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) […]

By Obas Esiedesa The Nigerian National Petroleum Corporation (NNPC) has assured Nigeria that planned rehabilitation of the Port Harcourt refinery would be completed as scheduled in April, 2023. The corporation said the rehabilitation which would cost $1.5 billion would bring the refinery back to 90 percent capacity. A statement by NNPC spokesman, Dr. Kennie Obateru […]

By Ediri Ejoh There are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or subsidy as the price of Bonny Light rises to $65 per barrel in May 2021. This showed an increase of 150 per cent when juxtaposed against $26 […]

…As investors, others call for complete deregulation By Udeme Akpan THERE are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or a subsidy as the price of Bonny Light rises to $65 per barrel in May 2021. This showed an increase […]

By Obas Esiedesa The Nigerian National Petroleum Corporation, NNPC, on Friday reversed its decision to make zero contribution to the Federation Account Allocation Committee, in the month of May, due to high cost of petrol subsidy. The Corporation in a statement by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru explained that […]

By Sebastine Obasi Residents of Lagos, Nigeria will no longer grapple with the dearth of medical oxygen in the wake of the COVID-19 pandemic, as Total/NNPC and their partners, Sapetro, CNOOC, and Prime 130 have built a medical oxygen plant for the State. Commissioning the facility at the Gbagada General Hospital, Gbagada, Lagos, Governor Babajide […]