The Nigerian National Petroleum Corporation (NNPC) has said that the oil industry will achieve the 2.3 million barrels per day production volume target for the 2019 budget. Group Managing Director of the NNPC, Dr. Maikanti Baru, who stated this yesterday at a presentation to the Senate Committee on Finance on the 2019-2021 Medium Term Expenditure…

The Nigerian National Petroleum Corporation (NNPC) last year recorded a trade surplus of N80.57 billion. However, a deficit of N5.46 billion was posted for January and August. All of these came as cases of pipeline vandalism rose to 2,048 nationwide during the period. The corporation’s Financial and Operations Report for 2018 indicated that the nefarious…

A new production sharing contract (PSC) yesterday entered into by Nigeria, Sao Tome and Principe Joint Development Authority (JDA) and Total Nigeria Plc is to exploit over 500 million untapped barrels of crude oil in West Africa. Coming 18 years after an earlier treaty was struck, Total and major stakeholders from the two nations as…

Data from the Office of Vice President, Prof. Yemi Osinabajo, indicated that last month, Nigeria’s privatised power sector lost a total of N44.38 billion revenue due to constraints which included shortage of gas; grid unreliability and distribution limitations. The data obtained by The Guardian from the Advisory Power Team in Osinbajo’s office, showed that for…

The new revenue template for revenue-generating agencies of government that came into existence last November may have exposed the alleged tardiness in accountability at the Nigerian National Petroleum Corporation (NNPC). The Federation Accounts Allocation Committee (FAAC) document revealed that the development was largely responsible for the past squabbles between the agency and the states, who…

Attempts to remove, by administrative procedures, the autonomy and independence, which the Central Bank of Nigeria (CBN) enjoys by virtue of Section 1(3) of its Act of 2007 may have surfaced, after all. And this is curious at this time when the economy is facing some stress and global attention. The other day, the Director…

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has announced that all oil blocks that are due for renewal would be approved by the first quarter of the year. He said the plan follows the early renewal policy that was instituted by the current administration. Though extant regulations stipulated that operators apply six months…

Since the President, General Muhammadu Buhari (GMB) has confessed secretly to the state governors that the economy is in terrible shape, fourth year into his own presidency, what remains than for him to resign honourably, if he is a honourable person? It makes no sense treating anyone who revels in carnage and economic destruction of…

The Federal Government yesterday filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni at a commercial court in London, United Kingdom in connection with a 2011 oilfield deal.

Globacom, total telecommunications services provider, has developed a solution that will enable the Nigerian National Petroleum Corporation (NNPC) to ultimately automate its operations nationwide. The solution by Globacom, called Intelligent Wide Area Network (iWAN), will power connectivity across NNPC’s 139 locations across the country. With the successful launch of the project in Abuja on Tuesday,…

Nigerian National Petroleum Corporation (NNPC) has commended Globacom, for successfully delivering its Intelligent Wide Area Network (IWAN) to support its operations across the country. According to a press statement, Globacom’s IWAN was conceptualised to power connectivity across 139 locations of NNPC all over the country to enable their various departments do their businesses with utmost efficiency,…

The Nigerian National Petroleum Corporation (NNPC) yesterday in Abuja defended it decision to award the contract for the protection of the 87-kilometre Trans Forcados Pipeline (TFP) to an indigenous firm, Ocean Marine Solutions (OMS).