The Nigerian National Petroleum Corporation (NNPC) says the country earned 640.35 million dollars from the export of crude oil and gas for the month of October, 2018. The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja. It said that the total export receipt of 640.35 million dollars […]
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Dr Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), says non-compliance to regulations by operators in the oil and gas sector hinders growth in the industry. Baru made this known at the 2018 annual stakeholders meeting of the Department of Petroleum Resources (DPR) in Abuja on Thursday. The meeting, with the theme […]
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The Nigerian National Petroleum Corporation (NNPC) has indicated it will meet up with the December 2019 deadline proposed by the federal government to end the importation of refined petrol into Nigeria. The development is expected to pave way for the refineries in Port Harcourt, Warri and Kaduna, to produce most of the petrol consumed in […]
Read More The story published in a national newspaper on December 30, 2018 elaborated by pointing out that “The Federal Government-owned refineries lost ₦96.34 billion in the first nine months of this year compared to ₦95.09 billion in the whole of 2017.” Certainly, unless things have changed in the last quarter of 2018, the refineries alone would […]
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Group known as Pipeline Right of Way Surveillance Providers Forum has appealed to the Management of Nigerian National Petroleum Cooperation (NNPC) to immediately intervene and settle the salaries and entitlements of all the community guards covering from Koton Karfe to Kaduna axis. The group in a statement issued in Kaduna and signed by the Chairman […]
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has urged Nigerians to report any filling station selling petrol above the official pump price of ₦145 per litre. Baru gave the charge in a statement signed by the NNPC Spokesman, Mr Ndi Ughamadu, in Abuja, on Monday. He said reports […]
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The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Brent, West Texas Intermediate, WTI and the Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $48.00, $43.38 and $47.92 per barrel […]
Read More The Nigerian National Petroleum Corporation (NNPC), said it has spent ₦623.16 billion on under recovery otherwise known as subsidy from January to November, 2018. The Corporation said it made this known to the Federation Account Allocation Committee (FAAC) at the last meeting in Abuja where revenue generating agencies gave account of their performances in the […]
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The Nigerian National Petroleum Corporation (NNPC) has explained why it withdrew $1.05billion from the Nigeria Liquefied Natural Gas (NLNG) dividend account, stressing that Section 7 of the NNPC Act empowers it to make such withdrawals. The cash was used to support importation of premium motor spirit (PMS) or petrol, which is highly subsidised at the […]
Read More The average price paid by consumers for premium motor spirit, PMS, popularly known as petrol, increased to ₦147.50 in November 2018 from ₦147.20 in October 2018, the Nigeria Bureau of Statistic, NBS report has shown. This showed an increase of 1.3 percent year-on-year and 0.2 percent month-on-month. According to the report of the NBS, Premium […]
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The Presidential Candidate of the People’s Democratic Party (PDP), Alhaji Atiku Abubakar, has come down hard on the Nigerian National Petroleum Corporation (NNPC) over what he described as huge abuse of financial procedures in the running of the state oil company, alleging that the $1 billion voted in the 2019 budget to fund Petrol-Price-Under Recovery […]
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The Nigerian National Petroleum Corporation has assured residents of Lagos and its environs that the supply of petroleum products will not be disrupted despite the fire outbreak in the Abule Egba area of the state. The NNPC explained that the fire outbreak was as a result of the vandalism of a pipeline in the area, […]
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