Speaker of the House of Representatives Tajudeen Abbas on Thursday said that Nigeria lost N16.25 trillion to crude oil theft between 2009 and 2020. The speaker said this while inaugurating the ad hoc committee to investigate crude oil theft and loss of revenue in Abuja. He said the menace...
NNPC Ltd
By BARBARA KALU, Asaba – At least one worker has been killed, while three others have been declared missing following the collapse of Seplat Energy Plc majestic rig near Ovhor in Delta State. Seplat Energy’s Chief Executive Officer, Mr. Roger Brown, who confirmed the incident to newsmen...
The Nigerian National Petroleum Company Limited (NNPC Ltd), has entered into strategic partnership with NIPCO Gas Limited to develop 56 Compressed Natural Gas (CNG) stations across the country. The NNPC Ltd said the partnership was part of its commitment to reducing carbon footprint and providing cheaper alternative fuel to...
Fuel subsidy removal by the present administration of President Bola Tinubu has come with a thunderous alarm. Although the intention may be good, pure and sincere, and in fact it is even noble but the reality now is that it is severely haunting everyone. Both the haves and haves-not...
TThe July 7, 2023, reported arrest of a vessel, MT Tura II (IMO number: 6620462), along Escravos River in Warri South West Local Government Area of Delta State. by Tompolos Tantita Security Services Nigeria Ltd, with about 150,000 metric tonnes of stolen crude oil valued at about $86.8million, has...
The House of Representatives has resolved to set up an Ad hoc Committee to investigate the circumstances leading to the increment of pump price of Premium Motor Spirit (PMS) from from N537 to N617. The resolution was sequel to a unanimous adoption of a motion by Rep. Ugochinyere Ikeagwuonu (PDP-Imo)...
President Bola Tinubu has called for stronger cooperation with the United States, as Nigeria and the rest of the world move toward renewable and other sources of clean energy. He spoke during a meeting with United States Assistant Secretary of State, Bureau of Energy Resources, Amb. Geoffrey Praytt, at...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says with the removal of subsidy on Premium Motor Spirit (PMS) other interested parties are free to import products once they meet the requirements. The NMDPRA said the PMS importers must meet regulations as stipulated by the Petroleum Industry Act...
By JOY ADARA, Abuja – Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to “set up a presidential panel of enquiry to promptly probe the grim allegations that US$2.1 billion and N3.1 trillion public funds of oil revenues and budgeted as fuel subsidy payments are...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will no longer fix prices or release templates for Premium Motor Spirit (PMS). Authority Chief Executive (ACE), Mr Farouk Ahmed, who said this at a news conference in Abuja on Friday, said that market forces would henceforth dictate...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is working with the NNPC Ltd. and other stakeholders to guarantee a smooth transition following the removal of fuel subsidy. The News Agency of Nigeria (NAN) reports that President Bola Tinubu, in his inaugural speech on Monday, said...
The Nigerian National Petroleum Company Limited (NNPC Ltd) says the decision to remove subsidy on Premium Motor Spirit (PMS) known as fuel by President Bola Tinubu is a welcome development. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd. made this known at the NNPC Ltd. Towers in...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says Nigeria’s domestic gas infrastructure network has capacity to transport 6.9 billion Standard Cubic Feet (BCF) of gas to support power generation and gas-based industries. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd., made this known on Thursday in...
By DANJUMA JOSEPH, Lafia – President Muhammadu Buhari, has officially flagged off the spud-in of the Ebenyi-A Well located in the Middle Benue Trough, in Obi Local Government of Nasarawa State, Tuesday. Governor Abdullahi Sule, of Nasarawa State, while speaking at the occasion, appealed to both the President and...
By DAVID IORJA, Abuja – President Muhammadu Buhari on Tuesday declared that the discovery and drilling of oil in Nasarawa State will lead to greater prosperity for Nigerians as well as enhance overall energy security for the country. In his virtual message to the official spud-in of the Ebenyi-A...
Mr Jean-Marc Cordier, a former Vice President of the Abu Dhabi National Oil Company (ADNOC), has joined the services of the Nigerian National Petroleum Company Ltd (NNPCL). This is contained in a statement by Mr Garbadeen Muhammad, the Chief Corporate Communications Officer, NNPCL, on Monday in Abuja. Muhammad said...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company Ltd. (NNPCL) has attributed fuel queues in Abuja and some parts of the country to restrictions of businesses and movement during the presidential and National Assembly elections. The NNPC Ltd Chief Corporate Communications Officer, Mr. Mr Garba Deen Muhammad,...
Some financial analysts have urged the Federal Government to totally deregulate the petroleum industry and reinvest its subsidy payment to more productive sectors of the economy. They gave the advice in separate interviews with the News Agency of Nigeria, (NAN) in Lagos on Thursday. Dr Austine Nwaeze, a former...
Mr Timpre Sylva, Minister of State for Petroleum Resources, says Federal Government has taken bold actions to stop the ongoing petrol crises across the country, while assuring massive distribution of the product.. Sylva, gave the assurance after his tour of some selected petroleum dispensing outlets in Lagos on Friday...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Friday, said that its members were not buying petrol at N172 per litre, as being insinuated. IPMAN’s Chairman, Western Zone, Alhaji Dele Tajudeen, stated this in an interview with the News Agency of Nigeria (NAN) in Ibadan. Tajudeen described the...