The Federal Government has declared its intention to invest and focus attention on natural gas exploitation in the country. Addressing the 6th Gas Exporting Countries Forum (GECF) Summit in Doha, Qatar, on Tuesday, President Muhammadu Buhari said enactment of Petroleum Industry Act (PIA) was designed to enable Nigeria to...
oil and gas
By JOY ADARA, Abuja – The Nigerian National Petroleum Company (NNPC) Limited has reassured Nigerians of its capacity to restore sanity in the supply and distribution of quality Premium Motor Spirit (PMS) also known as petrol across the country within a short period. The Chief Executive Officer/ Group Managing...
The Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, on Wednesday, explained how ‘adulterated’ Premium Motor Spirit (PMS) from Belgium got into the country undetected and the companies that brought it in. Mr Kyari spoke about the problem which had led to...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company (NNPC) Limited posted a total of $224.29million receipt from crude oil and gas export in August 2021 as against $191.26million in July 2021. A breakdown of the figures captured in the August 2021 NNPC Monthly Financial and Operations Report...
The Nigeria National Petroleum Company (NNPC) Limited had a busy week following the award of honourary doctorate degree on its Group Managing Director (GMD) and Chief Executive Officer (CEO), Malam Mele Kyari. The award was bestowed on the awardee by Federal University of Technology (FUT), Minna. Other prominent Nigerians...
By JOY ADARA, Abuja – Leading energy company, Shell Nigeria Gas (SNG), has received accolades from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for deliberate and active investment in Nigeria’s critical gas infrastructure to supply gas for powering industries in key locations in the country. The Chief...
The NNPC Ltd. has commended Mohammad Barkindo, Secretary-General, Organisation of Petroleum Exporting Countries (OPEC) on the role he played in the formation of Declaration of Cooperation (DoC) between OPEC member countries and non-OPEC oil-producing countries. The NNPC gave the commendation on Thursday when OPEC Secretary-General, hosted a working lunch...
The Nigerian National Petroleum Company (NNPC) Limited started its week with the securing of a 5 billion dollars corporate finance commitment from the African Export Import Bank (Afreximbank) to fund major investments in Nigeria’s upstream sector. For NNPC, securing the facility is a milestone achievement, especially in its bid...
Justice Derefaka,Technical Adviser, Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, says gas supply is helping to build industrial clusters across the country. Derefaka made this known in a statement issued on Monday in Lagos. He noted that producers typically congregate around areas with...
The Nigeria Labour Congress (NLC) has appealed to the federal government to reconsider the plan to remove oil subsidies for the interest of the workers. Mr Ikechukwu Nwafor, NLC chairman in Ebonyi, gave the advice in an interview with the News Agency of Nigeria (NAN) on Friday in Abakaliki....
The Federal Government has commended the Nigeria Liquefied Natural Gas (NLNG) Limited for suspending the exportation of cooking gas while approving 100 per cent domestic supply of the product. The News Agency of Nigeria (NAN) reports that on Jan. 14,the NLNG said the move is designed to increase LPG...
By JOY ADARA, Abuja – As the Federal Government commenced full implementation of the Petroleum Industry Act (PIA) in earnest, the new legislation has been tipped to provide business opportunities that will enable the Nigerian National Petroleum Company Limited (NNPC) earn more revenue for the country. Chief Executive Officer (CEO) of...
The Nigeria LNG Limited announced on Thursday that its board of directors had approved the supply of 100 per cent of the Liquefied Petroleum Gas (butane and propane) produced by the company to the Nigerian market. The NLNG said in a statement that it would prioritise the domestic market...
The Nigerian National Petroleum Company (NNPC) Limited has every reason to perform beyond expectation in 2022 as President Muhammadu Buhari on Friday inaugurated the Board of the newly incorporated NNPC. The inauguration which took place in Abuja was to ensure strict compliance with Corporate Governance principles that place premium...
The Nigerian National Petroleum Company (NNPC) Limited has ended the year on a bright note after it won an award as the overall best company in oil and gas reforms at the Open Government Partnership (OGP) global awards which was held in Seoul, South Korea. Nigeria picked the award...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company Limited (NNPC) has drawn the attention of the general public to a fake competition trending online which claims to celebrate its so-called “Anniversary Event”. A statement Issued on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division,...
The Nigerian Content Development and Monitoring Board (NCDMB) says 53 Nigerian companies have so far accessed loans under its Nigerian Content Intervention Fund (NCIF) scheme. Mr Obinna Ofili, General Manager, Nigerian Content Development Fund and Treasury Management, NCDMB, disclosed this at the 2021 Capacity Building Workshop for Media Stakeholders...
Introduction At the beginning of this month November 2021, President Buhari announced at that Nigeria has pledged to eliminate illegal gas flaring (which he said was Nigeria’s single greatest contribution to greenhouse emissions) by 2030. The President made the commitment at the UN Climate Change Conference Glasgow 2021 tagged...
The Organisation of the Petroleum Exporting Countries (OPEC) says crude oil spot prices dropped by $1.74, or 2.1 per cent, in November 2021 to average $80.37 per barrel. OPEC made this known in its Oil Market Report for December 2021 which was obtained by the News Agency of Nigeria...