Tag: NNPC
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Unstable Fiscal Regime Stifling Nigerian Petroleum Industry – Kyari
The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has said that the absence of a stable fiscal environment is inhibiting the growth of the Nigerian petroleum industry, especially the upstream sector. Mallam Kyari, who stated this while playing host to members of the House of Representatives Committee on Petroleum…
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NNPC shortlists 78 companies for pipelines rehabilitation bidding
The Nigerian National Petroleum Corporation (NNPC) has shortlisted 78 companies to bid for the rehabilitation of oil pipelines and depot infrastructure across the country. Over 300 companies applied through the official portal published in the national dailies on August 7 and only 78 companies met the expiration time of noon on September 18. The Group…
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NNPC Records ₦20.36Billion Trading Surplus in July
The Nigerian National Petroleum Corporation (NNPC) has recorded an increased trading surplus of ₦20.36billion in July 2020 compared to the ₦2.12 billion surplus in June 2020 in its operations. Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the corporation, in a release in Abuja, explained that details of the figures captured in…
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Deregulation: NNPC to Support Deployment of CNG Facilities
The Nigerian National Petroleum Corporation (NNPC) has pledged to support ongoing initiatives by the Ministry of Petroleum Resources to provide alternate energy source to Nigerians through aggressive activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. Speaking on TVC Business Show, Business Nigeria Live, the Group Managing Director of the Corporation,…
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Deregulation: NNPC to setup CNG plants across Nigeria
The Nigerian National Petroleum Corporation (NNPC) has said it will soon begin activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. The corporation disclosed this in a statement by the Group General Manager Public Affairs Division, Dr Kennie Obateru, in Abuja, on Sunday. The CNG (methane stored at high pressure) is…
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AKK gas pipeline project contract not inflated – NNPC
The Nigerian National Petroleum Corporation (NNPC) said the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project was not inflated to the tune of 1.527 billion dollars, as alleged in an online media outfit. The corporation disclosed this in a statement signed by its spokesman, Dr Kennie Obateru, in Abuja on Monday. He described the accusation as false, baseless…
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NNPC obtains $1bn to fund Upstream Operations of NPDC
The Nigerian National Petroleum Corporation (NNPC) has obtained a prepayment funding of approximately US$1b to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company (NPDC). This is contained in a statement signed by Kennie Obateru, NNPC’s Group General Manager Group Public Affair Division. The crude oil prepayment has, according to the ststement, enabled…
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Petroleum Industry Bill: An end to NNPC’s accountability loophole
After the Niger Delta Development Commission (NDDC) probe saga, there are now insinuations by every Tom, Dick, and Harry over the level of corruption and mismanagement that might be going on in the Nigerian National Petroleum Company (NNPC). With the recent probe of contracts in the NDDC, attention, and of course, the focus of the…
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NNPC earns $378.42m from crude oil & gas export in June – Report
The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export earnings of $378.42 million in June, as against $133.16 million it posted in May 2020. The corporation disclosed this in its June Monthly Financial and Operations Report (MFOR) released on Sunday in Abuja. It said that the amount signalled a…
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Fire service confirms NNPC petrol pipeline leakage in Lagos
Lagos State Fire and Rescue Service, on Sunday, confirmed leaking of petrol from the Nigerian National Petroleum Corporation (NNPC) Atlas Cove-Mosimi System 2B Pipeline at Isheri in Alimosho Local Government Area. Mrs Margret Adeseye, Acting Head, Lagos State Fire and Rescue Service, confirmed the development in a statement signed by Mr Jamiu Dosunmu, spokesperson for…