Tag: NNPC
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OIL THEFT: Nigeria now Africa’s fourth largest oil producer
Nigeria’s crude oil output hampered by theft has fallen from 1.4 million barrels per day (bpd) at the start of the year to 900, 000 bpd as of September 2022, plunging the country to fourth place among largest oil producers in Africa, behind Angola, Algeria and Libya. Historically, Nigeria has been the largest exporter of…
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PRIVATIZATION: “NNPC has created more problem for Nigeria”- El Rufai
Kaduna State Governor, Mallam Nasir El-Rufai, has slammed the Nigerian National Petroleum Company, NNPC, saying it has not remitted even N20,000 to the federal account this year but created more problem for Nigeria. The governor revealed this on Thursday, stating that the NNPC Limited should be privatised as it has created more problem for Nigeria,…
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Crude oil theft going on for about 50 years now – Chief Clark
Elder statesman and Ijaw leader, Chief Edwin Clark has said that crude oil theft in Nigeria has been going on for much longer, for about 50 years, contrary to the position held by the Nigerian National Petroleum Company Limited (NNPCL).
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Tompolo “obtains” comprehensive list of security officials behind Nigeria’s oil theft
Ex-militant leader, Government Ekpemupolo, also known as Tompolo, whose contract is to provide intelligence that could stop oil theft, has obtained a comprehensive list of security officials behind oil theft in Nigeria. He strongly accused the security agencies of being behind the stealing of Nigeria’s crude oil. The Nigerian Upstream Petroleum Regulatory Commission put the…
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Why Abuja is experiencing fuel scarcity
The Nigerian National Petroleum Company Limited (NNPC Limited) has disclosed that the current fuel queues situation being experienced in some parts of Abuja and its environs was a result of delays in the arrival of fuel trucks.
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BREAKING: NNPC Limited declares profit after tax of N674 billion
The Nigerian National Petroleum Company (NNPC) Limited has declared a profit after tax (PAT) of N674 billion for the year ended 2021, with the company’s profit after tax shot up by 134.8% company to year 2020.
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NNPC acquires Oando stations to become Africa’s largest retailer
The Nigerian National Petroleum Company (NNPC) Limited has announced the acquisition of OVH Energy Marketing, owner and operator of the Oando branded retail service stations to become Africa’s largest petroleum products’ retailer. This was revealed by the Chairman Chairman of NNPC Limited, Margery Okadigbo, while speaking on the development in Abuja on Saturday. Okaigbo said,…
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Amid rising debt, petrol subsidy bill rises to N525.71 billion last month
Amid rising debt, petrol subsidy bill has risen by 17.1 per cent to N525.71 billion last month. This was disclosed in the subsidy bill figures picked by the Federal Government and made available by the Nigerian National Petroleum Company Limited (NNPCL) NNPC. According to the figures, the government has paid N2.568 trillion as subsidies between…
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Reps probe NNPC 32-year venture contracts
The House of Representatives has begun probe into the Joint Ventures and Production Sharing Contracts entered into by the Nigerian National Petroleum Corporation (NNPC) in the last 32 years. The House’ Ad Hoc Committee to Investigate the Structure & Accountability of the Joint Venture Businesses and Production Sharing Contracts of the Nigerian National Petroleum Corporation…
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Buhari directs NNPC to complete section 4 of East-West Road
President Muhammadu Buhari has directed the Nigeria National Petroleum Corporation (NNPC) Limited and it’s subsidiaries to step in and fix section 4 of the East-West Road. The portion of the road is from Eleme roundabout to Onne Junction, through the tax credit scheme.