This followed the announcement by the NNPC Group Managing Director, Mele Kyari, that the petroleum sector regulator has no plan to increase the ex-depot price of petrol in the country. Kyari made the announcement while briefing reporters after a closed-door meeting with the National Association of Road Transport Owners (NARTO) and the Petroleum Tanker Drivers […]Read More
Amidst controversy over the state of the nation’s refineries the latest report of the Nigerian National Petroleum Corporation, NNPC, has indicated that Nigeria’s three refineries guzzled a total of N5.86 billion in overhead expenses on zero output in the month December 2020 alone. This expenditure eventually resulted in operating deficit of N5.37 billion by the […]Read More
The Nigerian National Petroleum Corporation on Thursday announced plans to resume active oil exploration in Sokoto Basin. A statement issued in Abuja on Thursday by NNPC spokesperson, Kennie Obateru, said the corporation’s Group Managing Director, Mele Kyari, said exploration for crude would resume in the Sokoto Basin. The statement read in part, “Kyari also hinted […]Read More
The federal government has said that when passed, the Petroleum Industry Bill (PIB) will resolve most of the knotty issues that have hindered the development of the oil and gas sector in the country since the 50s. Speaking when he rounded off a panel discussion at a pre-summit conference in Abuja, the Minister of State, […]Read More
The Nigerian National Petroleum Corporation (NNPC) on Thursday said it generated a total of N2.197trillion from the sale of petrol between December 2019 to December 2020. In the period under review, the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, who broke the news in a press statement, said the corporation raked in […]Read More
House of Representatives Public Accounts Committee has warned 25 ministries, departments and agencies and 17 subsidiaries of the Nigeria National Petroleum Corporation (NNPC) over alleged breach of the Treasury Single Accounts (TSA) policy. The committee led by Mr Oluwole Oke, at the weekend, alleged that the NNPC had been using its subsidiaries to operate accounts […]Read More
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre. Some of the stations were Capital Oil and Gas, […]Read More
The Nigerian National Petroleum Corporation (NNPC) has disclosed that between July 2019 and July 2020, Nigeria flared more gas than it supplied to its domestic industries, averaging about 600.38 million standard feet per day (mmscf/d). In its July 2020 report on its operations, the NNPC explained that 490.21mmscf/d of gas was sent to industries on […]Read More
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari says the corporation has become an Extractive Industries Transparency Initiative (EITI) supporting company. Kyari announced this on his twitter account @MKKYARI on Tuesday. He said that with the development, the corporation had joined a group of over 65 extractives companies, state-owned […]Read More
Barely three months after a major reshuffle of the management team at the Nigerian National Petroleum Corporation (NNPC), the state-oil-company Sunday announced new appointments and redeployments. Coming few days after the resignation of the corporation’s Chief Operating Officer, Ventures and New Business Directorate, Roland Ewubare, the oil firm said the new development was part of […]Read More
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