Estimated Reading Time: 1The Nigerian National Petroleum Corporation NNPC has renewed Oil Mining Lease 118 with the local subsidiaries of Shell RDSa.L, Total TOTF.PA, Exxon XOM.N and Eni ENI.MI for another 20 years. According to a statement released by the NNPC on Tuesday, the deal signals the end of “long-standing[Read More…]
Tag: NNPC
Just In: Petrol stays at N162 to165 – Minister assures
Estimated Reading Time: 1 The Ministry of Petroleum Resources has confirmed that there would be no increase in the price of Premium Motor Spirit (PMS) popularly referred to as petrol. The Ministry on Friday published this in a statement issued and signed by the Minister of State for Petroleum, Timipre[Read More…]
‘Petrol subsidy continues in May’ Mele Kyari says
Estimated Reading Time: 1 The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari has said that there will be no increase the ex- depot price of Premium Motor Spirit, Petrol, in May. Kyari made the announcement at the end of a closed door meeting with[Read More…]
Oil, Gas Export Revenue Dropped By $2.23Billion In 2020 – NNPC
Estimated Reading Time: 4The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 per cent last year amid the COVID-19 induced collapse in price and demand. Nigeria’s revenue from the exports of crude oil and gas fell to $2.62bn in 2020[Read More…]
NNPC, Tecnimont SpA sign $1.5Billion to rehabilitate Port Harcourt refinery
Estimated Reading Time: 1The Nigerian National Petroleum Corporation (NNPC) and Tecnimont SpA, an Italian engineering company, on Tuesday, signed the engineering procurement and construction (EPC) contract for the rehabilitation of the Port Harcourt refinery in Rivers state. Ahmed Dikko, managing director of Port Harcourt refinery company (PHRC), signed for the[Read More…]
NNPC announces 80.12% increase in trading surplus for December
Estimated Reading Time: 1The Nigerian National Petroleum Corporation has announced an increase of 80.12% in trading surplus for the month of December 2020 which stands at 24.19billion compared to the 13.43billion surplus recorded in November 2020. According to the Group General Manager, Group Public Affairs Division of the Corporation, Dr.[Read More…]
‘We are going through hell’ – Nigerians express frustration after another fuel hike
Estimated Reading Time: 1Nigerians are no longer holding their emotions in check as the price of fuel again increased under the administration of President Muhammadu Buhari. On Thursday night, the Petroleum Products Pricing Regulatory Agency, PPPRA, fixed the pump price of Premium Motor Spirit, PMS, also known as petrol, at[Read More…]
Senate queries NNPC over N4Trillion unremitted revenue
Estimated Reading Time: 1The Senate Public Accounts Committee is questioning the Nigerian National Petroleum Corporation (NNPC) over the non-remittance of N4 trillion revenue generated in five years into the Federation Account. Based on a 2016 report of the Auditor-General for the Federation, the committee said the money was generated between[Read More…]
NNPC says no plans to increase fuel price in February
Estimated Reading Time: 1The Nigerian National Petroleum Corporation (NNPC) has denied plans to increase fuel price from February. There had been speculations the prices of petroleum products may go up next month as many filling stations sell petrol above the official N162 per litre. But NNPC Group General Manager, Group[Read More…]
‘Buhari is the only president who doesn’t interfere in NNPC operations’ Kyari claims
Estimated Reading Time: 1The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, says President Muhammadu Buhari is the only president not to have interfered in the running of the corporation. Kyari made the statement on Tuesday via the NNPC Group General Manager, Group Public Affairs[Read More…]
