Tag: NNPC
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Illegal insurance activities probe: House C’ttee gives NNPC, Mutual Benefits, others 10 days to submit vital documents
…says we can’t sweep over $100m claims under the carpet …insists only CEOs are expected at the panel …those who failed to show up , we’ll use our legislative powers to compel them Members of House of Representatives Committee on Insurance and Actuarial Matters on Monday gave the Nigeria National Petroleum Corporation, NNPC and other…
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Reps C’ttee invite NNPC, CBN, AMCON, AIICO, First Ins, others over alleged infractions in Insurance biz
The House of Representatives Committee on Insurance and Actuarial Matters has invited Chief Executives of Nigeria National Petroleum Corporation, NNPC, AMCON, AIICO, First Insurance, and other critical stakeholders to an investigative hearing from August 17th to 28th on alleged infractions in the Nigerian Insurance business environment. The invited CEOs are to appear before the House…
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NNPC pledges to boost gas delivery to domestic market
The Nigerian National Petroleum Corporation (NNPC) has restated its commitment to working with relevant partners and stakeholders in the Oil and Gas Sector to boost delivery of gas to the domestic market. The Group Managing Director of NNPC, Mallam Mele Kyari, made the commitment Monday at the launch of the Nigerian Gas Transportation Network Code…
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NNPC signs pact with partners to resolve OML 130 dispute
In its bid to meet the target of revving up production to 3million barrels per day and unlock gas revenues to the tune of about $225 million in the short term and $510million in the long run for the Federation, the Nigerian National Petroleum Corporation (NNPC) has reached an accord with its partners, China National…
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NNPC records 43% drop in oil pipeline vandalism in May
The Nigerian National Petroleum Corporation (NNPC) has recorded an encouraging 43 per cent drop in cases of willful damage of its oil pipeline infrastructure by suspected oil thieves in May, 2020. The corporation, in a release by its Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that details of the report contained…
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NNPC denies officials sold 48m barrels of stolen crude oil
The Nigerian National Petroleum Corporation (NNPC) on Thursrday denied reports that its officials sold 48 million barrels of stolen crude oil and issued death threats to a whistleblower. It said the publications and television commentaries replicate the content of a letter to NNPC on behalf of SAMANO SA DE CV by its solicitors. NNPC, in…
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House C’ttee summons NNPC, Oando, Agip others over alleged contract scam
The House of Representatives Committee on Petroleum Upstream on Wednesday summoned NNPC, Oando, Agip and other multinational companies over alleged irregularities in a contract awarded to a Nigerian company, Decoon Service limited. The House Committee in session issued the summon at an investigative hearing following the failure of the organisations to honour invitation earlier sent…
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Nigeria signs $1.5b pre-payment deal with oil traders Vitol, Matrix Energy
The NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. It was the first such agreement since the COVID-19 pandemic, Reuters reported quoting two sources close to the deal. The deal provides Nigeria with much-needed cash after its finances were hit by…
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Petrol subsidy gulped N101.6bn in three months – NNPC
Petrol subsidy consumed over N101bn in the first three months of this year. Latest figures released by the Nigerian National Petroleum Corporation have shown that petrol subsidy gulped N101.65bn in the first three months of the year. In its just-released Monthly Financial and Operations March 2020 report, the national oil firm, however, described the subsidy…
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‘Why it’s difficult to entrench change in NNPC’
Najim Animashaun, a Policy Adviser and Lawyer, has given an insight as to why it is difficult to entrench the culture of change in the Nigerian National Petroleum Corporation (NNPC). TheNewsGuru.com (TNG) reports Animashaun gave the insight on Friday during a Twitter conference with the theme: “Reforming NNPC towards operational efficiency and commercial effectiveness”, hosted…