The Nigerian National Petroleum Company Limited (NNPC Ltd) is experiencing financial strain, which has put considerable pressure on the company and poses a threat to the sustainability of fuel supply. Mr Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, made this known in a statement on Sunday, acknowledging...
NNPC
By OLA MODUPE, Lagos – The NNPC Ltd has flagged off the third edition of the Vision First Programme, as part of comprehensive community-focused healthcare outreach targeted at the Ilaje community and its environs in Bariga, Lagos State. The Vision First programme is a continuation of NNPC Ltd/ SNEPCo...
Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri has pointedly addressed the issue of fuel smuggling to neighbouring countries, saying that smugglers would continue to have a field day as long as the Nigerian National Petroleum Company (NNPC) Limited imports fuel and sells it below the landing cost....
The profit declared by the Nigerian National Petroleum Company Limited (NNPC Ltd.) will spur major investors to take advantage of its Initial Public Offer (IPO) when announced. An economic expert, Dr Sand Mba-Kalu, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja....
he Nigerian National Petroleum Company Limited (NNPC), has provided updates on its crude oil exploration activities in the Northern part of the country, reiterating its commitment to achieving the Federal Government’s aspirations in the frontier basins. “The company has been actively drilling in basins in and around Northern Nigeria,...
A leading academic has identified the targeted investments in education by the Shell Petroleum Development Company (SPDC) Joint Venture as a catalyst for addressing Nigeria’s energy challenges. Professor Anene Moneke, Director of the NNPC/SPDC/TotalEnergies/NAOC Joint Venture Centre of Excellence in Environmental Management and Green Energy (CEMAGE) and holder of...
The Arewa Consultative Forum (ACF) has voiced its concern over the ongoing national and international controversies surrounding the Dangote Petroleum Refinery and Petrochemicals Industrial Free Zone Enterprise (DPRPI). This is contained in a statement by by Prof. Tanko Muhammad -Baba, ACF’s National Publicity Secretary, issued on Monday in Kaduna...
By MBADAN ADE, Abuja – …Targets 2mbpd Crude Oil Production by Dec 2024 The Nigerian National Petroleum Company (NNPC) Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of...
he House of Representatives has threatened to sanction agencies and companies that failed to appear before the committee in the probe of loss of 60 billion dollars by the federal government. The amount is an inflated cash calls by the Nigerian National Petroleum Company Ltd. (NNPCL) Joint Venture...
By ARMSTRONG ALLAHMAGANI, Bauchi – The Bauchi State Government would spend N100 million for the engagement of youth in computer programming and Artificial Intelligence. This is as earmarked in the 2024 budget of the state. This was disclosed by Governor Bala Mohammed, in his speech while inaugurating a...
Minister of State, Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has called for more investments in the oil and gas industry to ramp up production and boost foreign exchange earnings. Lokpobiri made the call on Tuesday at the Nigerian Oil and Gas (NOG) Energy Week currently holding in Abuja. The...
By AUSTINE TSENZUGHUL, Bauchi – National Association of Nigerian Students (NANS) has warned that Nigeria would be shut down if their demands to ameliorate nationwide economic hardship are not met. The students are kicking against what they described as “skyrocketing prices of essential commodities” nationwide. The...
By AUDU LIBERTY OSENI – The Nigerian National Petroleum Corporation (NNPC), saddled with the responsibility of managing and harnessing Nigeria’s oil and gas, in what appears an attitude to a disregard for accountability that has helped undermine its country’s extractive sector, has refused to disclose contract deals, and has...
The House of Representatives has summoned the Chief Executive Officers of Nigerian National Petroleum Company (NNPC) Ltd, Nigerian Port Authority (NPA) over the management of Public Private Partnerships, PPPs and Concessions since 1999. The House of Reps joint Committee on Public Assets and Special Duties summoned the CEO...
By MBAFAN ADE, Abuja – Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the NNPC Ltd. to domicile a significant portion of its...
Former Vice President Atiku Abubakar on Thursday asked President Bola Tinubu to account for the Nigerian National Petroleum Company Limited (NNPCL)’s $3.3 billion emergency crude repayment loan. Last August, the NNPCL secured a $3.3 billion emergency crude repayment loan from the African Export-Import Bank to stabilize the...
By MBAFAN ADE, Abuja – The Nigerian National Petroleum Company (NNPC) Ltd. has said there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. Chief Corporate Communications Officer, NNPC Ltd, Mr Olufemi Soneye, stated this in a statement issued...
By MBAFAN ADE, Abuja – The African Energy Chamber (AEC), has hailed UTM Offshore, the Nigerian National Petroleum Company (NNPC) and Delta State Government on the signing of a groundbreaking shareholders agreement to develop Nigeria’s first Floating Liquefied Natural Gas (FLNG) project. The shareholders agreement was signed on Tuesday...
The Nigerian National Petroleum Company Limited (NNPCL) has generated N4.5 trillion as revenue for the federation for 2023 as at October, its Group Chief Executive Officer, Mr Mele Kyari has said. Kyari, said this in Abuja on Wednesday at an interactive session with the Senate Committee on...
Former Governor of the Central Bank of Nigeria (CBN), Khalifa Muhammadu Sanusi II, has called for a proper audit of the Nigerian National Petroleum Company Limited (NNPCL), noting that this call was what cost him his job at the apex bank. Sanusi made this known while delivering his remarks...