The Nigerian National Petroleum Company Limited (NNPCL) has completed the construction of a 150 million litres storage facility for the Port Harcourt Refining Company, as part of preparations for the full operations of the plant, the company announced on Wednesday. The storage facility, located in Atlas Cove, is part of …
Read More »Extractive Industries Transparency Initiative urges clarity on NNPC’s stake in Dangote refinery
The Extractive Industries Transparency Initiative (EITI), a global transparency body, has called upon the Nigerian National Petroleum Company Limited (NNPC) to provide additional details regarding its 20 percent equity stake in the Dangote Petroleum Refinery. Read also: Dangote investors gain N514bn after refinery takeoff The EITI delegation delivered this charge …
Read More »NNPC to prepay $3.3 Billion in royalties, taxes to Nigerian government
The Nigerian National Petroleum Company Limited (NNPCL), which obtained a $3.3 billion financing arrangement from the African Export-Import Bank last year, has disclosed its intentions to prepay future royalties and taxes to the Federal Government. The corporation intends to use the money to improve financial stability and stabilize the value …
Read More »ABC of NNPC’s $3billion Emergency Crude Repayment loan (Explainer)
EXPLAINED: What you need to know about @nnpclimited’s $3billion Emergency Crude Repayment Loan from Afrexim Bank @afreximbank 1. What is the $3 billion loan about? The NNPC Ltd. secured an emergency $3 billion crude oil repayment loan from AFREXIM Bank. This is not a crude-for-refined products swap but an upfront …
Read More »Breaking News: NNPC secures $3billion ECR loan from AFREXIM Bank (Photo)
In a significant move to support the Federal Government’s efforts towards stabilizing the exchange rate market, the Nigerian National Petroleum Corporation (NNPC) Ltd has successfully secured a $3 billion emergency crude oil repayment loan from the African Export-Import Bank (AFREXIM Bank). A commitment letter and Termsheet were jointly signed by …
Read More »FG sets ablaze vessel carrying 800,000 ltrs of stolen crude oil
An intercepted vessel carrying barrels of stolen crude oil has been set ablaze by security personnel of the Joint Task Force, Operation Delta Safe in the Escravos region of Delta State. The captain and crew were held on board the ship, as it was sailing to Cameroon with the cargo. …
Read More »No fuel subsidy payments have been made to marketers since 2016, NNPC reveals
The Nigerian National Petroleum Company Limited, NNPC, has said that it will reconcile fuel subsidy deductions with the Federal Government, after stating that no fuel subsidy payments were made to marketers since January 2016. The company stated this on Tuesday, July 4 when it posted a before and after fuel …
Read More »NNPC resumes oil drilling in Borno, hopes to eliminate energy poverty
The Nigerian National Petroleum Company Ltd (NNPC) has resumed an oil drilling campaign at the Wadi-B located in Jere Local Government Area of Borno State. The NNPC resumed drilling after it stopped drilling in Wadi-B in 1995 because back then successes were weak and findings made during the period were …
Read More »Gas: NNPC deepens investments in AKK, OB3, others, Kyari Says
The Nigeria National Petroleum Company Ltd. (NNPC Ltd) said it is deepening investments in the Ajaokuta-Abuja-Kano-Kaduna (AKK) gas pipeline and OB3 gas interconnector to support five billion standard cubic feet per day domestic gas utilization. Malam Mele Kyari, the Group Chief Executive, of NNPC Ltd., made this known in Abuja …
Read More »Alleged corruption: Proof of service stalls Shasore’s trial, court adjourns to June 20
Justice Mojisola Dada granted the request for an adjournment to allow parties to exchange documents and subsequently adjourned till today. The Lagos State Special Offences Court sitting in Ikeja has fixed June 20 to commence trial in the alleged $200,000 corrupt offer charge brought against the former Attorney General of …
Read More »We have 1.2bn litres of fuel, enough to last for 35 days – NNPC
The Nigerian National Petroleum Company (NNPC) Limited says it has in stock 1.2 billion litres of Premium Motor Spirit, otherwise called fuel, that would ensure a robust supply of the product for at least 35 days. Chief Corporate Communications Officer, NNPC Limited, Mr. Garba Deen Muhammad in a statement at …
Read More »‘Expect normalcy soon’ NNPC says ongoing road projects in Lagos responsible for petrol scarcity
The Nigerian National Petroleum Company (NNPC) says the petrol scarcity experienced in parts of the country is caused by the ongoing road projects in Lagos. Adeyemi Adetunji, executive vice-president, downstream, NNPC, made this known at a news conference on Tuesday. States across the country are experiencing a dwindling petrol availability …
Read More »‘Stop it now or resign’ Host communities knock NNPC MD over oil theft
Niger Delta oil and gas host communities have called on the Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Melee Kyari, to stop oil theft, name and prosecute those behind the menace or resign. The communities lamented that increasing oil theft had again thrown the nation into a …
Read More »‘It’s sealed’ NNPC signs pipeline project agreement with Morocco
The Nigerian National Petroleum Company (NNPC) Limited says it will sign agreements on the Nigeria-Morocco gas pipeline project. NNPC said the agreements would be between Nigeria and the National Office of Hydrocarbons and Mines of Morocco (ONHYM) as well as the Economic Community of West African States (ECOWAS) commission on …
Read More »‘Unendurable’ Households groan under skyrocketing cooking gas, kerosene prices
The country was thrown into an uproar with newly released reports by the Nigerian Bureau of Statistics that prices of cooking kerosene and cooking gas rose by 99 per cent and 122 per cent respectively, OpeOluwani Akintayo writes For Mrs Jane Okebiorun, a petty trader at Jakande Estate area of …
Read More »‘Right decision’ NNPC explains why multi-billion naira pipeline surveillance contract to Tompolo
The Nigerian government on Tuesday described its award of multi-billion naira pipeline surveillance contract to a former leader of the Movement for the Emancipation of Niger Delta, Government Ekpemupolo, popularly known as Tompolo, as the ‘right decision’. Speaking at the 49th session of the state house briefing at the Presidential …
Read More »‘Shocking!’ Illegal pipelines connected to churches, mosques
THE Group Chief Executive Officer, CEO, of the Nigerian National Petroleum Company, NNPC, Limited, Melee Kyari, on Tuesday, said some illegal petroleum products piplelines were connected to Churches and Mosques. He also said that the shutting down of pipelines in the country was deliberate. The CEO also said that the …
Read More »‘Overriding NNPC’ Buhari approves Seplat acquisition of Mobil Producing Oil assets
President Muhammadu Buhari has approved the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc despite moves by the state-owned oil company to block the deal. In February, Seplat had entered into an agreement to acquire the entire share capital of MPNU from Exxon Mobil. But the deal was blocked …
Read More »‘Sad Yobe Sports commissioner dies in ghastly motor accident
The victim – a former member House of Representatives, representing Bursari, Geidam, and Yunusari federal constituency – died on Tuesday evening. He was said to have attended the funeral of his friend, the Director of Finance and Supply of the Upstream of the NNPC, Hassan Gambo, on Tuesday afternoon in …
Read More »‘I dare you!’ IPMAN wants approved price enforced on private depot owners
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to mandate private depot owners to sell petroleum products at approved government prices. This is contained in a statement by the IPMAN Chairman, Kano Chapter, Alhaji Bashir Danmalam, on Tuesday in …
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