NPDC targets 400,000 barrels production per day
As the controversy over capacity of crude oil exploring companies including the Nigerian National Petroleum Corporation and its subsidiaries...
Reps order NNPC, NPDC to pay $1.5 billion three-year royalties
The House of Representatives ad-hoc committee investigating over N1.6trillion revenue leakages yesterday asked the Nigerian National Petroleum Corporation (NNPC) and Nigeria Petroleum Development Company (NPDC) to clear $1.5billion unpaid royalties on oil and gas activities. The debt, the committee said, was accumulated over three years. NPDC, an exploratory arm of the NNPC, has been dubbed…
DPR indicts CBN, NPDC in alleged N6tr revenue leakages
The Department of Petroleum Resources (DPR) has indicted the Central Bank of Nigeria (CBN) for determining the rate at which royalties paid in dollars are converted to naira before remitting into the Federation Account.
NPDC’s asset portfolio to hit $5b by 2022
Nigerian Petroleum Development Corporation Limited, (NPDC), has unveiled plans to increase asset portfolio from the current $3 billion to $5 billion by 2022.
NNPC reduces trade deficit by 16%
The Nigeria National Petroleum Corporation (NNPC) has reduced its trading deficit to ₦14.26 billion by January end, down from ₦17.01billion recorded in December 2016, representing about 16 per cent improvement.
‘NNPC, NPDC have violated due process’
According to a new report by the Nigeria Extractive Industries Transparency Initiative, (NEITI) the State Oil Company and its subsidiary, the NDPC, owe the federation more than 20 billion dollars.
MOSOP, INC urge FG to compel oil firms to relocate to Niger Delta
The Movement for the Survival of the Ogoni People (MOSOP) and Ijaw National Congress (INC) have asked the Presidency to enforce the relocation of multinational oil companies to the Niger Delta.
28 power stations generate 3,134 MWh/hour electricity
The Nigerian Electricity Supply Industry (NESI) says 28 power stations sent out average of 3,134mw/hour of electricity on Feb. 8, according to the industry’s website’s report in Abuja.