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Tag: NNPC

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

Nigeria’s gas production rises 2.2% in Dec 2023

Nigeria’s gas output increased by 2.2% in December 2023 compared to November 2023, when the country’s oil and gas companies produced 146.991 billion standard cubic feet of gas. The Times reported that this data was obtained from the Nigerian National Petroleum Company Limited. However, according to the NNPC, flares accounted for 7.75% of the 11.646 […]

NNPCL demolishes 34 illicit refineries
Oil and Gas

NNPCL demolishes 34 illicit refineries

Over the last week, the Nigerian National Petroleum Company Limited discovered and destroyed 34 illegal refineries in the Niger Delta. The NNPCL announced that, in relation to the several incidents of oil theft and pipeline sabotage last week, it had arrested no fewer than twenty people. The oil company said in a video posted on […]

Business

NNPC to use Afrexim bank’s $3.3bn loan for operational costs

The Nigerian National Petroleum Company Limited stated its plan to use the $3.3 billion loan received from the African Export-Import Bank to cover operating demands and pay upfront tax and royalties owed to Nigeria on Sunday. The Times reported that this was revealed in a paper titled ‘Frequently Asked Questions – Project Gazelle,’ provided by […]

featured News

NNPC debunks recruitment exercise

By Wilson Adekumola   The Nigerian National Petroleum Company Limited has debunked reports going viral in recent weeks on social media claiming that it was conducting recruitment exercise.   fake job postings that have been circulating online in recent weeks.   NNPC disclosed this in a statement signed by its management on Monday, stating that […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

NNPCL reports 121 cases of crude theft in one week – Report

The Nigerian National Petroleum Company Limited has recorded 121 crude oil theft incidents between July 29 and August 4, 2023. The company’s weekly Energy series, which airs on the Nigerian Television Authority Network, claimed this. The study indicates that crude theft occurrences happened in the states of Delta, Rivers, Bayelsa, and Imo. Following is a breakdown of the incidents […]

Marketers predict more fuel queues due to pipeline vandalism
featured

Oil marketers predict further fuel price hike

Although the Nigerian National Petroleum Company Limited and other oil marketers have not declared an increase in the price of petrol, they have acknowledged that the lack of foreign currency and the hike in the price of crude oil were the two main reasons influencing the price of PMS. The naira’s depreciation against the US […]

Four consortia to repair deteriorated pipelines - NNPCL
Business

NNPCL, NIPCO partner to deliver CNG

The Nigerian National Petroleum Company Limited said on Thursday, August 3, via its Twitter account that it is collaborating with NIPCO Plc to distribute compressed natural gas to Nigerians. This information follows President Tinubu’s recent declaration that his administration would provide local governments and states with buses powered by compressed natural gas. The corporation made the […]

FAAC funds to FG, states hit 7-year high in 2023
Business

NNPCL explains N123bn interim dividend to FAAC

The Nigerian National Petroleum Company Limited has provided explanations for why an N123 billion interim dividend for the month of June was paid to the Federation Account Allocation Committee. According to the News Agency of Nigeria, FAAC distributed N907 billion to the three levels of government on Thursday. NNPCL donated N81 billion as a monthly […]

Four consortia to repair deteriorated pipelines - NNPCL
Oil and Gas

NNPCL monopoly ends as marketer’s fuel vessel arrives

The first shipment of petrol, 27 million liters imported by an unaffiliated marketer, has arrived in the country, ending the Nigerian National Petroleum Company Limited’s prior downstream monopoly. The ship, ST Nnene, which had been scheduled to come since last week but was delayed by bad weather off the coast of Lome, launched at Ijegun-Egba on […]

NNPCL blames market forces for fuel price hike
Oil and Gas

NNPCL blames market forces for fuel price hike

The group chief executive officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has attributed the rise in the per-liter pump price of fuel from N537 to N617 to market forces. The NNPCL CEO clarified that the hike is not based on a shortage of fuel in an interview with reporters on Tuesday following a meeting with […]

NNPC, First E&P provide free healthcare in host communities
Business

NNPCL reiterates intention to sell stocks

NNPC Ltd., the Nigerian National Petroleum Company, has reiterated plans to offer its Initial Public Offer to investors very soon. This was stated by the Group Chief Executive Officer of NNPC Ltd., Mele Kyari, on Tuesday in Abuja at the 22nd Nigeria Oil and Gas Energy Conference and Exhibition. The topic of the conference is “Powering Nigeria’s […]

Four consortia to repair deteriorated pipelines - NNPCL
Oil and Gas

Fuel subsidy: NNPCL cautions against panic-buying

The Nigerian National Petroleum Company Limited has stated that prospective increases in petrol prices are insufficient justification for Nigerians to indulge in panic-buying.. According to Nairametrics, the Group Chief Executive Officer of the NNPCL, Mele Kyari, made this statement to the press on Monday. He claimed that the NNPCL is present to make sure that there is […]

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