Kaduna Refinery’s N65bn loss

June 26, 2020 Editorial III 0

The first audited financial statements of the Nigerian National Petroleum Corporation (NNPC) after 43 years of its operation to the effect that the Kaduna Refining and Petrochemical Company Limited (KRPC) generated no revenue in 2018, once again underscores the need for the deregulation of Nigeria’s oil and gas industry, particularly the downstream sector. There is, indeed, the dire need for Read More

NNPC raises alarm over ‘contaminated’ diesel in market

June 5, 2020 Benjamin Umuteme 0

The Nigerian National Petroleum Corporation (NNPC) has raised an alarm over prevalent low grade and contaminated AGO, otherwise called, diesel offered at discounted prices in parts of the Country. The warning was contained in a report by NNPC Retail Limited Managing Director, Sir Billy Okoye, admonishing motorists to be wary of the off-spec products, a release by NNPC Group General Read More

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Letter to NNPC on 2019/2020 recruitment

June 2, 2020 Adamu Umar, 0

The  journey  started  on  the  March 13,  2019,  when  the  NNPC welcomed applications for various  job openings within the organisation. These vacancies were categorized into two: Graduate Trainees (GT) and the Experienced Hires (EH). This  news was greeted with joy and enthusiasm among the youth of this  country where unemployment is rife.  Subsequently, the organisation said over 60,000 applicants were Read More

Breaking: Former NNPC GMD Baru confirmed dead

May 30, 2020 Benjamin Umutene 0

The Nigerian National Petroleum Corporation (NNPC) has announced the demise of its former Group Managing Director (GMD), Dr. Maikanti Kacalla Baru. Dr. Baru, a consummate Mechanical Engineer, died after a brief illness, NNPC Group General Manager, Group Public Affairs, Dr. Kennie Obateru revealed in a release Saturday morning. The release said NNPC Group Managing Director, Mallam Mele Kyari, expressed shock Read More

Breaking: NNPC slashes ‘petrol price’

May 6, 2020 Benjamin Umutene 0

The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities. With the new price regime, it’s expected that pump price will be reviewed downward. A release Wednesday, in Abuja by Group General Manager, Group Public Affairs Division NNPC, Dr. Kennie Read More

Breaking – Crude oil: Nigeria rakes $434.85m in January as pipeline vandalism soars

April 22, 2020 Benjamin Umuteme 0

Nigeria recorded crude oil and gas export sale of $434.85million in January, 2020, an increase of 94.30 per cent pitched against the December 2019 figures, the Nigerian National Petroleum Corporation’s (NNPC) Monthly Financial and Operations Report, released on Monday in Abuja has stated. The statement by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, said the Read More

COVID-19: Like Ghana, give Nigerians 2 months free electricity – NASS tells Buhari

April 8, 2020 Taiye Odewale 0

Leadership of the National Assembly, Wednesday, tasked President Muhammadu Buhari-led federal government of Nigeria to provide free electricity supply to all Nigerians for two months as part of palliative stimulus for cushioning the effects of lockdown being applied against the spread of Coronavirus in the country. It also called for fairness and equity in the distribution of palliatives across the Read More

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NNPC rakes in N5.28bn as December 2019 trading surplus – Report

March 23, 2020 Editorial III 0

The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus of ₦5.28 billion in its December 2019 operations compared to the ₦3.95 billion surplus posted in November last year.    According to a release on the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, on Sunday in Abuja explained that details of the surplus were Read More

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High diesel price may drive inflation over 12%

February 12, 2020 Editorial III 0

Renowned financial analyst, Bismarck Rewane, Chief Executive Officer (CEO) of Financial Derivatives Company (FDC) Limited has warned inflation could cross the 12 per cent mark January, 2020 as a result of increase in diesel price and the rise in liquidity. “Our market survey in January reveals that headline inflation is likely to inch up to 12.05 per cent from 11.98 Read More

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Breaking: NNPC pipeline explodes In Lagos, casualties yet unknown

January 20, 2020 Editor 0

Nigeria National Petroleum Cooperation (NNPC) Pipelines conveying petroleum products around Ekoro area of Lagos has exploded. Sources close to the scene of the accident told our correspondent, on Sunday night that following the explosion, huge balls of fire engulfed the surrounding environment causing residents to flee the area for safety. Our correspondent was further told that the area where the Read More

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Nigeria’s oil, gas sector generated $21bn in 2017

November 28, 2019 Editorial III 0

Nigeria earned $21 billion from the oil and gas sector in 2017, representing a 23 per cent increase from the 2016 figures of $17.05 billion and 15 per cent lower than 24.79 billion inflows recorded in 2015, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. A breakdown of the financial flows by revenue streams showed that crude oil and Read More

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OML25: NYCN commends NNPC GMD, others

November 4, 2019 Editorial III 0

The National Youth Council of Nigeria (NYCN), Vice President North Central, Amb. Akoshile Mukhtar has commended the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari and other critical stakeholders for the reopening of Oil Mining Lease 25 in Asari-Toru Local Government, Rivers State. NYCN in a statement signed by  Organizing Secretary Headquarters, Comrade Abdulrahman Olawale, Monday noted that Read More

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Finally, NPDC extinguishes fire at OML 20

November 1, 2019 Editor 0

The Nigerian Petroleum Development Company Limited (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has announced that it successfully extinguished a fire at Well 18T, Egbema West in OML 20. A release by the NNPC Acting Group General Manager, Group Public Affairs Division, Mr. Samson Makoji, said the operation was executed with zero fatality.  According to the NNPC Read More

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Breaking: NNPC discovers crude oil, gas in Gongola Basin

October 11, 2019 Editor 0

The Nigerian National Petroleum Corporation (NNPC) says it has discovered hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North Eastern part of the country. The corporation disclosed this in a statement signed by its acting spokesman, Mr Samson Makoji, in Abuja on Friday. Drilling of the Kolmani River II Well was Read More

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NNPC seals $2.5bn gas supply deal with NLNG

October 11, 2019 Editor 0

The Nigerian National Petroleum Corporation (NNPC) has signed a $2.5 billion pre-payment agreement with  Nigeria Liquefied Natural Gas (NLNG) for Upstream gas development projects to supply gas to NLNG Trains 1 – 6. The Group Managing Director of NNPC, Mallam Mele Kyari, who spoke on Friday in Abuja, during the signing ceremony challenged shareholders the NLNG work very quickly towards expanding the Read More

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NNPC begins full refineries rehab January – Kyari

September 22, 2019 Editor 0

Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has disclosed that rehabilitation of the nations refineries will commence in January 2020.  Mallam Kyari made the disclosure during a facility tour of the Port-Harcourt Refining and Petrochemical Company (PHRC) on Saturday.  The GMD added that the refineries will start refining crude oil at optimum capacity by 2022. The Read More

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NNPC, please pay ITF allowances

September 18, 2019 Editorial III 0

Industrial skills development has emerged as one of the most effective human resource development strategies that Nigeria needs for rapid industrialisation and national development. Nigeria as a nation has to move from the colonial literary education to a more functional technical and vocational skills development as a means of fostering economic growth and development. For the above to materialise, the Read More

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NNPC disowns impostor of gas, power COO

September 14, 2019 Editor 0

The Nigerian National Petroleum Corporation (NNPC) has advised individuals and corporate bodies, locally and internationally, to be wary of fraudsters parading themselves as officials of the corporation.  A statement release on Saturday in Abuja by NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, said the warning came in the wake of claims by a group of dubious individuals Read More

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40b barrels oil reserves target achievable – NNPC boss

September 5, 2019 Editorial III 0

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has revealed that significant progress has been made in the ongoing exploration of inland basins, adding that the target of growing the nation’s reserve to 40 billion barrels by 2023 was realistic and achievable. Mallam Kyari sais this when he hosted the leadership of the Nigerian Read More

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NNPC targets China to boost oil reserves

August 16, 2019 Editorial III 0

In a bid to actualize its 3 million barrels per day oil production by 2023, the Nigerian National Petroleum Corporation (NNPC) says it will strengthen its partnership and new investments in the Upstream Petroleum Sector. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, disclosed this when the Executive Vice President of China National Offshore Oil Read More

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Kyari tasks pipeline professionals on security, efficiency

August 16, 2019 Editorial III 0

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has called on Pipelines Professionals Association of Nigeria (PLAN) to come up with appropriate technology to stem the rise in oil and gas pipelines vandalism. According to Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, the GMD made the statement while playing host to the executive Read More

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Military ‘ll continue to safeguard nation’s economic assets – CDS

August 7, 2019 Editor 0

The Nigerian Armed Forces will continue to protect the nation’s economic assets and provide secure and safe environment for businesses to strive in the country. The Chief of Defence Staff, Gen. Abayomi Olonisakin, gave the assurance Tuesday when he received the Group Managing Director, National Petroleum Corporation (NNPC), Mr Mele Kolo Kyari, at the Defence Headquarters, Abuja. The Defence Chief said Read More

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Demand, supply driving kerosene prices up – NNPC

August 5, 2019 Editorial III 0

The Nigerian National Petroleum Corporation (NNPC) has attributed the increased in the price of household Kerosene in the country to the pressure of demand and supply. The NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in a chat with the News Agency of Nigeria (NAN) on Sunday in Abuja explained that with the price of the product deregulated Read More

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NNPC exonerates ExxonMobil over $600m oil licenses renewal debt

July 30, 2019 Editorial III 0

The Group Manager General Nigerian National Petroleum Corporation, NNPC, Monday, exonerated ExxonMobil from any indebtedness to the federation over the renewal of licenses for Oil Mining Leases, OML, 67, 68 and 70. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, disclosed that the indebtedness was on the part of the corporation, which had been Read More