NNPC urges petroleum tanker drivers to shelve planned strike
NNPC on Sunday in Abuja called on petroleum tanker drivers to call off its planned strike in the interest and welfare of Nigerians. “The strike is about the condition of roads in various parts of Nigeria used for the distribution of goods and services including petroleum products. “While it is not the responsibility of the […]
NNPC trading surplus increased to N39.85bn in one month – Report
…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 […]
54 oil pipelines vandalised in February – NNPC
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 […]
NNPC trading surplus rise by 314% to N39.85bn in one month
***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 […]
OML 118: NNPC, SNEPCo, others sign 20 years deep water agreement
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) […]
PH refinery: NNPC assures on April 2023 completion date
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 […]
Petrol Subsidy: NNPC under pressure as Bonny Light rises by 150% to $65/b
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 […]
Petrol Subsidy: NNPC under pressure as Bonny Light rises by 150% to $65 per barrel
…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 […]
NNPC makes U-turn, says FAAC remittance will be boosted
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 […]
Sanwo-Olu lauds Total/NNPC and Partners over Medical Oxygen Plant
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 […]
Petrol: No remittance to FAAC in May after N111bn subsidy deduction – NNPC
By Obas Esiedesa The Nigerian National Petroleum Corporation has warned that it would not make any remittance to the Federation Account Allocation Committee in the month of May after spending N111.966 billion to subsidy petrol consumption in March. NNPC’s Chief Financial Officer, Umar Isa in a letter to the Accountant General of the Federation explained […]
