PRESIDENT Muhammadu Buhari has terminated of $1.3 billion contracts and restructuring of the controversial strategic alliance agreements held with Atlantic Energy signed by former minister of petroleum resources, Diezani Alison-Madueke. Erstwhile Governor, Central Bank of Nigeria (CBN), Lamido Sanusi, had alleged that the Atlantic’s deals issued by Alison-Madueke, who was briefly arrested in London last […]
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FEDERAL Government has promised not to cut down the number of employees of the Nigerian National Petroleum Corporation. This is coming as labour unions have threatened to storm Imo State today (Friday) for a mass action if the state government fails to reinstate the workers that it recently sacked. The Federal Government noted that instead […]
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NIGERIAN National Petroleum Corporation (NNPC), on Wednesday, announced a loss of N267.138 billion in its financials for the year 2015. The amount lost by the corporation in 2015, was higher than the N257.38 billion allocated to the Ministry of Health for both recurrent and capital expenditure in the 2016 budget of the Federal Government; higher […]
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Nigeria’s National Economic Council (NEC) has ruled out the possibility of increasing the Value Added Tax and other Corporate taxes by the Federal Government. NEC yesterday after a meeting at the presidential villa Abuja presided over by Vice President Yemi Osinbajo agreed that any attempt to increase taxes including VAT would bring additional hardship to […]
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FORMER Ambassador and Deputy Representative of Nigeria at the United Nations, Chief Oladapo Fafowora, has called on the Federal Government to take its anti-corruption war to the Nigerian National Petroleum Corporation and the Central Bank of Nigeria. Fafowora stated this at the 11th annual Adekunle Kukoyi Memorial Lecture organised by the Lagos State Branch of […]
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THE Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Monday said the business of illegal oil bunkering in the country was being driven by Nigerians. Kachikwu, who doubles as the Group Managing Director of the Nigerian National Petroleum Corporation, stated this during a visit to an illegal oil bunkering site at Robert-Victor village, […]
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THE Nigerian National Petroleum Corporation (NNPC) yesterday announced the shutdown of two of its refineries due to pipeline vandalism by the Niger Delta militants last week. The refineries, with a combined capacity of 235,000 barrels per day, resumed production in December and January respectively after long maintenance work. The refineries said the work stopped on […]
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YAKUBU Dogara, has called for the repositioning of the oil sector to block all leakages and guarantee efficiency in its operations. The Speaker, House of Representatives, made the call at a forensic investigation of the Nigeria National Petroleum Corporation (NNPC) and Pipelines and Products Marketing Company (PPMC) oil swap deals organised by the House Ad […]
Read More The Nigerian National Petroleum Corporation (NNPC) has said it would commence the construction of its mega filling stations in each of the 109 Senatorial districts in the country in the months ahead. Group Executive Director, Commercial and Investment for the corporation, Dr. Babatunde Victor Adeniran, who stated this at the weekend added that the NNPC […]
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The Executive Secretary, Petroleum Products Pricing Regulatory Agency, Mr. Farouk Ahmed, has explained why the agency allocated 78 per cent of the total volume of 3.1 million metric tonnes of petrol import allocation for the first quarter to the Nigerian National Petroleum Corporation. He said the decision was due to the inability of some oil […]
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The Nigerian National Petroleum Corporation on Tuesday announced that the nation’s three refineries in Kaduna, Port Harcourt and Warri had attained a combined daily production capacity of over 6.76 million litres of petrol. The corporation said in a statement by its Group General Manager, Group Public Affairs Division, Ohi Alegbe, that petrol production was projected […]
Read More The Nigerian National Petroleum Corporation has said 86 per cent of the oil and gas receipt from January to November last year was used to fund joint ventures which it has with other oil firms. The nation’s oil and gas production structure is majorly split between joint ventures with NNPC onshore and in shallow water, […]
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