The Nigerian National Petroleum Corporation (NNPC) yesterday released its December 2018 financial and operating report, posting a trading surplus of ₦12.13 billion, a development it said sprang from the success recorded by its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). The national oil company also said it recorded an upsurge in pipeline vandalism which […]
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The Nigerian Petroleum Development Company, the upstream subsidiary of the Nigerian National Petroleum Corporation, has said it is aiming to increase its crude oil production to 300,000 barrels per day this year. The Managing Director, NPDC, Yusuf Matashi, said the company would also work towards ramping up its gas production to one billion standard cubic […]
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The people of Udu kingdom in Udu Local Government Area of Delta State has given a 14-day ultimatum to Nigerian Petroleum Development Company (NPDC) to construct a flow station at Emadadja, Ogbe Udu or Ubogo or face shutdown of all oil wells in the area. Udu is one of the foremost producers of oil and […]
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The Nigerian National Petroleum Corporation (NNPC) says it made a trade surplus of ₦18.12 billion in the month of May, higher than ₦17.16 billion in April 2018. The Corporation made the disclosure in a statement signed by its Spokesman, Mr Ndu Ughamadu in Abuja on Monday. He said details of the transactions was published in […]
Read More The House of Representatives adhoc committee probing $21 billion debts owed indigenous companies by International Oil Companies, IOCs, revenue leakage on Thursday invited Ibe Kachikwu, Minister of State for Petroleum Resources and Chief Executive Officers of all oil companies operating in Nigeria. Rep Daniel Reyenieju, PDP, Warri Federal Constituency in Delta State,chairman of the Ad-hoc […]
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The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), is to increase its daily crude oil production to 500,000 barrels per day before 2022. The NPDC currently produces about 200,000 barrels per day and going by its work programme, it will increase to 300,000 barrels per […]
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One of the nation’s refineries, Kaduna Refining and Petrochemical Company, did not process any crude oil from June to September this year and made a loss of ₦14.43 billion within the period. The three government-owned refineries lost a total of ₦16.67 billion in the third quarter of this year, the latest financial and operations report […]
Read More The group operational losses of the Nigerian National Petroleum Corporation dropped by 53.1 per cent following the revamp of the Forcados oil terminal and resumption of export activities there after it was shut down for several months. An analysis of the latest data from the national oil firm showed that its group deficit dropped by […]
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Barring unforeseen circumstances, the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is targeting to grow its equity crude oil production from the current 180,000 barrels per day (bpd) to 500,000 bpd by 2020. Currently, the company is the fifth oil producer in Nigeria. According to Sunnews, the Managing […]
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The Nigerian Petroleum Development Company owes the federation the sum of $5.531bn and N72.435bn, the Nigeria Extractive Industries Transparency Initiative has said. The NPDC is the upstream arm of the Nigerian National Petroleum Corporation and has the mandate of exploration and production of crude oil. NEITI stated that the unremitted funds from the NPDC fell […]
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