The Nigerian National Petroleum Corporation (NNPC) 2019 audited financial statement has revealed that the Corporation reduced its loss profile from N803 billion in 2018 to N1.7 billion in 2019. The figures in the audited report released Thursday morning in Abuja represents a 99.7 per cent reduction from its 2018 report. The report is coming barely five months after the state Read More
Several passengers were trapped on Wednesday under loads of farm produce after a truck conveying them to their destination crashed in Ogun state. According to an eyewitness, the incident happened near NNPC under bridge in Abeokuta, the state capital on Wednesday. Blueprint gathered that the accident happened as the driver found it difficult to manoeuvre the truck due to overload. Read More
Chief Timipre Sylva is the Minister of State for Petroleum Resources. In this interview with journalists in Abuja, he speaks on the controversy trailing the removal of fuel subsidy, what Nigeria and Nigerians stand to gain and the steps being taking to fix four refineries across the country. BODE OLAGOKE was there. On the fuel subsidy removal I believe that Read More
The federal government could not have expected public applause over its decision this week to end fuel and electricity subsidies. None came. Instead, criticisms have come fast and furious. Labour is oiling its gun to do battle with the Buhari administration. It is the normal reaction. As they say, no shaking. All the critics of the new policy home Read More
Civil Societies Organisations in Osun state Friday took to the streets to protest the increment in the price of fuel and electricity tariff. They described the sudden increment as “sheer wickedness, anti-people and affront on common Nigerians.” Carrying placards of various inscriptions such as “Revert Fuel Price Now,” “We Want a Better Life,” “Electricity Tariff Hike Is Evil,” “PMB People Read More
As Nigerians still grapple over tripple increase in electricity tariff, the Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of Premium Motor Spirit to N151.56 per litre. This is coming less than 45 days after it earlier increased the price to N141 per litre. PPMC is a subsidiary of the Nigerian National Petroleum Corporation. In an internal memo Read More
The Nigerian National Petroleum Corporation (NNPC) has urged constructive engagements between players in the oil and gas industry and the workers’ representatives, to formulate solutions to the challenges brought by Covid-19 on the businesses without sacking workers. The Corporation’s group managing director, Mele Kyari, who disclosed this at the 6th Triennial Delegates Conference of the National Union of Petroleum and Read More
The Nigerian Petroleum Development Company (NPDC), is looking at boosting its gas supply to the domestic market by 600million standard cubic feet per day (mmscf/d) in the next three to five years. NPDC, is an Exploration and Production subsidiary of the Nigerian National Petroleum Corporation (NNPC). The Managing Director of NPDC, Engr. Mansur Sambo, disclosed this during a facility tour Read More
The House of Representatives Committee on Petroleum Resources (Upstream), has insisted that the Nigeria National Petroleum Corporation (NNPC) Agip and other Joint Venture (JV) partners must appear before it next week over a $30 million and more debt owed a contractor, DE COON Services Limited. Chairman of the committee, Hon. Musa Adar made the announcement over the weekend in a Read More
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 $510 million in the long run for the Federation, the Nigerian National Petroleum Corporation (NNPC) has reached an accord with its partners, China National Offshore Oil Company (CNOOC) Read More
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 in the May 2020 NNPC Read More
The Nigerian National Petroleum Corporation (NNPC) has advised against a swift relocation of tank farms from their current locations along Ijegun, Kirikiri areas in Lagos and other parts of the country in order to avoid a dislocation in the supply and distribution chain of petroleum products across the country. The corporation made the submission Wednesday at a hearing by the Read More
The House of Representatives has asked for investigation of alleged illegal withdrawal of about $1.05 billion from dividends account of the Nigeria Liquified Natural Gas (NLNG), by the Nigeria National Petroleum Corporation (NNPC). The House at its Tuesday plenary mandated its committee on public accounts to invite the managements of the NNPC as well as that of the NLNG, to Read More
The Ajaokuta-Kaduna-Kano (AKK) pipeline is a 40-inch diameter, 614-km long natural gas pipeline recently launched by President Muhammadu Buhari, marking a very significant infrastructure thrust with potential to create petrochemical industries, power generation plants and millions of downstream jobs. Anchored by the NNPC, it aims to produce a steady and guaranteed gas supply network between the northern and southern parts Read More
Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Comrade Timi Frank, on Tuesday, described the call for the investigation of former Vice President Atiku Abubakar, ex-Senate President, Dr. Abubakar Bukola Saraki, ex-Speaker, House of Representatives, Yakubu Dogara, Senator Dino Melaye and himself as a huge joke. A suspected Nigerian internet fraudster, Ramon Abbas, popularly known as Hushpuppi Read More
Similar to history which has a way of repeating itself, the suddenwave of ultimatum issued to the federal government in a space of one week by two oil producing communities in Delta state, another by two Niger Delta region agitators should be to all a reality for all Nigerians to worry about. These communities are; the Omadino Federated Communities, an Read More
Coalition of civil society organizations, under the aegis of Nigeria Citizens Action Group (NCAG) on Monday demanded the reversal of the N143.8 petrol price back to N123 per liter within seven daysThe group also called on the Minister of State for Petroleum, Timipre Sylva, Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari and Executive Secretary of PPPRA, Read More
Nigeria Labour Congress (NLC) last week stopped short of declaring war with the federal government over the recent increase in the price of petrol. The NLC rejected the spurious increase and demanded a return to the old price. The statement was curiously silent on what the union would do if the demand was not met. It did not even set the Read More
The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments in the National Oil Company, as part of ongoing efforts to strengthen and reposition NNPC for greater efficiency, transparency and profitability in line with the Next Level Agenda of President Muhammadu Buhari’s administration. Mr. Adokiye Tombomieye, the Group General Manager, Crude Oil Marketing Division (COMD), has been appointed Read More
The Independent Petroleum Marketers Association of Nigeria (IPMAN), South West, Sunday threatened to stop the lifting of petroleum products in all the region depots over the hike in the fuel pump price by the Federal government. The South-west Chairman of IPMAN, Dele Tajudeen, who disclosed in a statement made available to journalists in Abeokuta, Ogun state capital described the hike Read More
Lillian Gordy Carter, mother of Jimmy Carter, the 39th president of the United States, scolded his son after he declared at the beginning of his campaign for the US presidential election of 1976 that “I will never lie to you.” Rebuking Jimmy Carter for making such a promise to American voters, his mother, “No one can stand up to the complete Read More
The Senate Wednesday moved to block Nigeria’s revenue losses resulting from money laundering, tax evasion by international oil companies operating in the country (IOCs), proceeds of corruption and other criminal activities involving illicit financial flows. It also said Nigeria lost $140billion to illicit financial flows in between 2000 and 2014, and ranked among the global top 30 countries of illicit financial outflows Read More
The Senate on Wednesday moved to block Nigeria’s revenue loss owing to money laundering, tax evasion by international oil companies operating in the country (IOCs), proceeds of corruption and other criminal activities involving illicit financial flows. The decision to do so was sequel to the consideration of a motion on “the need to review the domestic legal framework against Read More
President Muhammadu Buhari has said that delivery of the 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is part of his Administration’s Next Level Agenda for sustainable development and Nigeria’s economic prosperity. The President, who stated this Tuesday while flagging off construction works on the AKK project via virtual link from the State House in Abuja to two locations in Ajaokuta in Kogi Read More
President Muhammadu Buhari will today flag-off the construction of the biggest rail project in the history of Nigeria. The construction of the 40-inch x 614km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is expected to boost the distribution of gas in the country. The project, expected to be completed within a 24-month timeline, is a section of the Trans-Nigeria Gas Pipeline (TNGP) with Read More
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