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Tag: NNPC

Group backs sale of NNPC
News

NNPC’s verified Twitter account hacked, recovered

The Nigerian National Petroleum Company Limited, which alarmed the general public that its official Twitter account was hacked and used to send inappropriate messages on June 8, 2022, has now been recovered. NNPC’s notice was contained in a public notice signed by the Group General Manager, Group Public Affairs Division, Mr. Graba Deen Muhammad, on […]

Jet A1 hike threatens airlines' existence - Ibom Air COO
Ports and Airports

Aviation fuel sells N612 per litre, airlines groan

There appears to be no end yet to the current crisis in the aviation sector as findings show that the agreement between airlines and oil marketers can no longer hold due to continuous price hikes of the Aviation Turbine Kerosene, also known as JET-A1 or aviation fuel. Last week, the Nigerian National Petroleum Corporation and […]

Why oil theft estimates are unrealistic- Navy
Oil and Gas

Nigeria loses N91bn oil in one month – Analysis

Statistics have shown that Nigeria lost N91bn worth of oil to various technical issues in just one month. Data sourced from the Nigerian National Petroleum Corporation’s latest Monthly Financial and Operations Report (April 2021) showed that the revenue was lost due to the inability to produce approximately 3.5 million barrels of oil in April. Total […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
Oil and Gas

Fuel scarcity won’t spread to Lagos, others – Marketers

Oil marketers have said that the fuel scarcity being experienced in Abuja will not spread to Lagos State and other parts of the country. In an interview on Wednesday, the Major Oil Marketers Association of Nigeria, the Independent Product Marketers Association of Nigeria, and the Depot and Petroleum Products Marketers Association, unanimously said the state […]

Nigeria, Morocco commence 5,600km gas pipeline project
Oil and Gas

Reps kick as Kyari keeps mum on oil swap deal

THE Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday, finally appeared before the House of Representatives’ Ad Hoc Committee on the State of Refineries in Nigeria. However, Kyari could not answer some of the critical questions posed to him by members of the committee, urging the lawmakers to allow […]

Nigeria, Morocco commence 5,600km gas pipeline project
Aviation

Jet-A1: NNPC, airlines agree on three-month supply at N480/litre

The House of Representatives on Monday held a stakeholders meeting to resolve the crisis trailing the aviation fuel price increase, with the Nigerian National Petroleum Company Limited and domestic airline operators reaching a deal. It was agreed that the NNPC would supply Jet-A1 to marketers nominated by airline operators for a period of three months […]

Tweeps knock FG as fuel scarcity leaves commuters stranded
Energy

Black marketers sell petrol N300/litre as queues persist in Abuja

Fuel queues persisted in the Federal Capital Territory on Monday as filling stations struggled to control desperate drivers waiting to buy the Premium Motor Spirit, PMS, at the official price. Racketeers had a field day, selling a litre of PMS at N300 in different parts of the FCT. In Kubwa, a litre of fuel went […]

News

Overdue debt repayment weak in most states, DMO warns

The Director-General, Debt Management Office, Ms Patience Oniha, has said that many state governments still struggle to pay arrears, a development that threatens the level of debt sustainability in states. She said this in a presentation document titled ‘Paths to sustainable debt management: the SFTAS approach’, which was obtained by our correspondent on Monday. It […]

Economy

Subsidy deductions hit states hard, govs owe salaries

State workers and pensioners on Sunday lamented they were carrying the burden of a cash crunch in the country with many state governments failing to ensure regular payment of salaries, gratuities and other entitlements. Labour leaders, who spoke separately with our correspondents in Ekiti, Benue, Ogun, Ondo, Rivers, Abia, Ondo, Edo and Kano states, noted […]

Uncategorized

Political interference, inconsistent policies frustrating refineries repairs – NNPC ex-manager

A retired Group General Manager, Research and Development, Nigerian National Petroleum Corporation, Dr Bola Afolabi, speaks about his family, education, career and related issues What was your childhood ambition? As a child, I wanted to be a medical doctor because of the care they administer and the selfless nature of their calling. Their white garment […]

FG spends N40.1bn daily as fuel subsidy hits N600 per litre – Operators
Oil and Gas

Fuel subsidy records 307% increase amid transport fare hike

The amount spent on fuel subsidy monthly rose from N60.39bn in March 2021 to N245.77bn in March 2022, indicating an increase of 306.97 per cent. Within this one-year period, fuel subsidy gulped N2.08tn, according to data obtained from the Nigerian National Petroleum Company Limited. NNPC described its subsidy spending as an under-recovery of PMS/value shortfall. […]

Oil production: Angola, Libya overtake Nigeria, says OPEC
Energy

Protesting oil workers ground activities at Warri refinery

Operational activities were, on Thursday, grounded at the Warri Refining and Petrochemical Company, Delta State, as hundreds of casual workers staged a peaceful protest inside the company against the management of the Nigerian National Petroleum Company Limited. Their demands included, among others, conversion from casual to permanent staff, salary increase, payment of all outstanding allowances,  […]

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