Nigerian National Petroleum Corporation
Nine months after, senate probe yet to produce report on $25b NNPC contract scam
Nine months after the Senate resolved to investigate alleged $25b contract scam in the Nigerian National Petroleum Corporation (NNPC), no positive step has so far been taken to provide details to anxious Nigerians.
NNPC delivers 828 mmscfd of gas to power plants in one month
Nigerian National Petroleum Corporation (NNPC) delivered 828 million metric standard cubic feet per day (mmscfd) to gas fired power plants to generate an average power of about 3,342 Mega Watts (MW) of electricity in December 2017. This was relatively higher than the average production of 743 mmscfd, which was supplied to generate 3,115MW in the…
NNPC to invest N100billion unharnessed land in real estate
Plans are underway by the Nigerian National Petroleum Corporation (NNPC) to invest its over N100 billion worth of unharnessed landed property across the country in the real estate sector. The feasibility of the plan would largely rely on the ability of the group to recover the assets across the country. It would also be a…
Governors’ forum accuses NNPC of not remitting Joint Venture Cash Call
The Nigeria Governors’ Forum yesterday accused the Nigerian National Petroleum Corporation (NNPC) of failing to remit Joint Venture Cash Call. The Chairman of the forum, Abdulaziz Yari, explained that the corporation shortchanged the country for five years when the oil price was high. Yari, who is the Governor of Zamfara State, said the untoward development…
NNPC to boost share to 30% with depots, market expansion
Nigerian National Petroleum Corporation (NNPC) is targeting boosting its investment in the downstream sector of the Petroleum industry and improving supply challenges by building more depots across the Country. Speaking yesterday in Abuja at the inauguration of the board of one of its downstream Companies, NNPC Retail Limited, Group Managing Director of the firm, Maikanti Baru, said…
Militant attacks, oil bunkering push economy to the brinks
Nigeria’s economy is sliding downwards due to tumbling crude oil price, unabated illegal oil bunkering and catastrophic attacks on critical oil and gas installations by militants in the Niger Delta.
No plan to increase fuel prices, NNPC boss says
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has dismissed reports that the corporation will soon announce an increase in the pump price of Premium Motor Spirit (PMS).
Saudi Arabia’s oil price cut threatens Nigeria’s N820b revenue target
The expected oil-related N820 billion revenue to finance the 2016 budget is being threatened by the recent reduction of prices for Arab light by the world’s highest producer of crude oil ...
EITI lauds government on oil, gas standards
The Extractive Industries and Transparency Initiative (EITI), a global body, which promotes public awareness about how countries manage oil, gas and mineral resources, have lauded Nigeria as one of the first countries to implement its standards.