The Federal Government has said it would pay subsidy on petrol from the recoveries made in the first quarter of this year. This is contained in the latest Petroleum Product Pricing Regulatory Agency (PPPRA) template released in Abuja. It said between January and March, the Federal Government was able to save about N10 billion as a […]
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The Federal Government will pay subsidy on Premium Motor Spirit (petrol) from the over recoveries made in the first quarter of this year, as this is contained in the latest pricing template released by the Petroleum Products Pricing Regulatory Agency in Abuja, according to a report by the News Agency of Nigeria on Monday. According […]
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The Federal Government will commence drilling activities for crude oil in the Chad Basin from the third quarter of this year, the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has said According to him, the commitment of the Federal Government and the NNPC […]
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The restructuring at the Nigerian National Petroleum Corporation has not ended but is ongoing, the Minister of State for Petroleum Resources and Group Managing Director of the oil firm, Dr. Ibe Kachikwu, has said. According to Kachikwu, the restructuring is not only at the national oil firm, but will also affect other agencies and parastatals […]
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As the scarcity of Premium Motor Spirit continues to take a toll on motorists and other consumers in most parts of the country, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Monday said the trucks conveying the product were being diverted to Cameroon and Chad. The Minister, who stated this in Lagos at […]
Read More [su_dropcap]M[/su_dropcap]otorists may have to endure two more weeks of fuel scarcity, according to the Nigerian National Petroleum Company (NNPC). The organisation said yesterday that the scarcity which has paralysed socio-economic life in many parts of the country for the fourth week running, could be effectively over in two weeks time when the Kaduna Refining and Petrol-Chemical […]
Read More [su_dropcap size=”4″]T[/su_dropcap]HE current fuel scarcity in the country took a turn for the worse on Thursday as motorists and other petrol consumers flocked filling stations in major towns nationwide in what industry stakeholders described as panic buying fuelled by the statement made by the Minister of State for Petroleum Resources, Dr.Ibe Kachikwu, the previous day. […]
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The Federal Government says it has uncovered discrepancies of about N3.3tn in the remittance of funds by various Ministries, Departments and Agencies of government as well as foreign missions in the 2014 fiscal year. This was contained in the 2014 Annual Audit Report presented to the National Assembly on Monday by the office of the Auditor […]
Read More Into four major unit was the Nigerian National Petroleum Corporation (NNPC) been broken into. Minister of State for Petroleum Resources Dr. Ibe Kachikwu yesterday announced the new structure at a briefing in Abuja. According to The Nation, the minister, who is also the Group Managing Director of the organisation, said President Muhammadu Buhari approved the restructuring. He said: […]
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BETWEEN December 2015 and January 2016, the operating revenue of the Nigerian National Petroleum Corporation fell by N53.54bn, the firm’s financial and operations report released on Friday showed. According to the report, which was for the month of January 2016, the corporation’s group operating revenue for December 2015 was N184.4bn, while it made N130.86bn in […]
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NIGERIA will keep striving to increase crude oil production to meet local demand and not to essentially sell it in the international market, the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has said. Kachikwu also announced Nigeria’s backing of Saudi Arabia and Russia […]
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NIGERIA is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4bn in debt that the Nigerian National Petroleum Corporation has accumulated over years of mismanagement. The Minister of State for Petroleum, Dr. Ibe Kachikwu, told Reuters that he wanted to increase crude oil output to […]
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