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Tag: NNPC

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Current petrol prices still below market rate – NNPC

The Vice President of Downstream at the Nigerian National Petroleum Company, Adedapo Segun has asserted that the current pump price of petrol does not accurately reflect market conditions and could be higher. In an interview on Arise TV’s morning show, Segun detailed the challenges faced by the company concerning petrol supply. He pointed out that […]

News

Dangote refinery to get additional 17.8mb oil – NNPC

The Vice President of Downstream at Nigerian National Petroleum Company Limited, Adedapo Segun disclosed that the Dangote Refinery will receive an additional 17.8 million barrels of crude oil between September and November. This was disclosed by Segun, during an interview on Arise TV’s morning show on Thursday. This move is part of the Federal Government’s […]

News

NNPC reports 188 oil theft cases in one week

The Nigerian National Petroleum Company Limited has announced that it recorded 188 incidents of oil theft between August 24 and August 30. The state-owned energy company detailed these thefts in a recent disclosure, highlighting ongoing security challenges in the sector. In a visual report, the NNPC stated, “Between the 24th and 30th of August 2024, […]

News

NMDPRA, NNPC seal deal to sell crude oil in Naira

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has reached an agreement with the Nigerian National Petroleum Corporation Limited to conduct transactions with Dangote Refinery using the naira. This was disclosed by NMDPRA in Abuja on Tuesday, aligning with the recent federal executive council’s approval, according to Nairametrics. Under the new arrangement, NNPC will sell […]

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NNPC admits debts to suppliers amid escalating petrol scarcity

The Nigerian National Petroleum Company Limited has confirmed that it owes suppliers of premium motor spirit commonly known as petrol. This was disclosed in a statement by NNPC Chief Corporate Communications Officer, Olufemi Soneye via the company’s official X handle on Sunday. In the statement, the company disclosed that the financial strain from high petrol […]

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FG to engage external auditors for NNPC subsidy claim verification 

The Federal Government has initiated the process of hiring an external auditor to verify the N2.7 trillion fuel subsidy claim made by the Nigerian National Petroleum Company Limited. This move, aimed at determining the actual amount owed by the government, follows a proposal made five months ago during the April 2024 Federation Allocation Accounts Committee […]

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NNPC seizes 63 illegal refineries in one week

The Nigerian National Petroleum Company Limited has stated that 63 more illegal refineries were discovered and confiscated in the previous week. It was disclosed in a documentary that the fight against oil theft was yielding result, according to The Punch. The NNPC stated that between August 3 and August 9, about 177 incidents were reported […]

News

Axxela, NNPC partner to build Eko Atlantic City gas supply

Axxela Limited in collaboration with the Nigerian National Petroleum Company Gas Marketing Limited has constructed a 5-kilometer natural gas pipeline network in Victoria Island, Lagos which connects Eko Atlantic City to piped natural gas. This was disclosed in a statement by Axxela Limited, stating the unveiling of the pipeline was a significant achievement in Axxela […]

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NNPC, ExxonMobil resolve dispute over assets divestment

The Nigerian National Petroleum Company Limited and ExxonMobil have made progress in resolving the dispute over the sale of ExxonMobil’s asset to Seplat Energy, potentially leading to Nigeria increasing its daily crude oil output by 480,000 barrels. The NNPCL officially announced on Thursday that it has reached a settlement agreement with ExxonMobil companies operating in […]

Oil and Gas

NNPC launches major CNG plant in Lagos

The Federal Government has launched a Compressed Natural Gas plant with a capacity of 5.2 million standard cubic feet per day (mmscfd) in Lagos, as part of its ongoing efforts to offer alternative fuel sources for Nigerians and mitigate the impact of petrol subsidy removal. The Minister of State for Petroleum Resources (Gas), Rt. Hon. […]

News

NNPCL, partner unlock 12,000bpd production at Awoba Field

The Nigerian National Petroleum Company Limited has partnered with Newcross Exploration and Production Limited to restart production from the Awoba field which aims to optimise production from the nation’s hydrocarbon assets to boost revenues. This was contained in a statement issued by the Chief Corporate Communications Officer, Olufemi Soneye via the firm’s official X handle […]

Oil and Gas

NNPC, firm target 20,000bpd at Bayelsa oil field

The Nigerian National Petroleum Company Limited has announced the commencement of oil production from Madu Field. This was disclosed in a statement signed by the Chief Corporate Communications Officer, Olufemi Soneye on Friday via its X handle. The Nigerian National Petroleum Company Limited and its Joint Venture partner First Exploration and Petroleum Development Company Limited, […]

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