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  • 9th July 2026

NNPCL adopts performance-based funding model for state refineries

  • 9th July 2026

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  • 6th July 2026

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  • 6th July 2026

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ExxonMobil begins $1bn Usan project to boost Nigeria’s crude

Business

Dangote Refinery cuts petrol price by ₦1 as brent

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NLC, FG hold closed-door talks over labour rights issues

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Business

NNPCL adopts performance-based funding model for state refineries

The Nigerian National Petroleum Company Limited has announced plans to end the practice of funding the Port Harcourt and Warri refineries through crude-backed loans, adopting a performance-based financing model aimed at ensuring the facilities become commercially viable. Under the new approach, both refineries will be required to operate as financially self-sustaining entities, raising funds for […]

Business

NNPC posts weaker May earnings as revenue falls to N4.335tn

The Nigerian National Petroleum Company Limited posted weaker financial results in May 2026, with revenue falling nearly 13 per cent to N4.335tn despite steady crude oil and natural gas production. According to its latest Monthly Report Summary released on Wednesday, the national oil company generated N4.335tn in revenue during the month, down by N636bn from […]

Oil and Gas

IPMAN urges NNPCL to fast-track refinery deal with Chinese firms

Oil marketers under the Independent Petroleum Marketers Association of Nigeria have urged the Nigerian National Petroleum Company Limited to fast-track the proposed Technical Equity Partnership with two Chinese companies for the completion and operation of the Warri and Port Harcourt refineries. They expressed concern that the conclusion of the agreement with the Chinese firms is […]

Oil and Gas

NNPCL renews methane detection deal with TotalEnergies

The Nigerian National Petroleum Company Limited has renewed its partnership with TotalEnergies to continue the deployment of advanced methane detection technology across its upstream operations for an additional 24 months as part of efforts to reduce greenhouse gas emissions and meet its decarbonisation targets. The agreement extends the use of the Airborne Ultralight Spectrometer for […]

Business

Over 70% eligible staff accept NNPCL early retirement scheme

The Nigerian National Petroleum Company Limited has commenced an early retirement scheme that is already attracting significant interest from employees, with officials confirming that more than 70 per cent of eligible staff have indicated willingness to participate in the voluntary exit arrangement. The initiative, structured under the Accelerated Exit Scheme and the Voluntary Exit Scheme, […]

News

SERAP sues NNPCL over alleged ₦5.9bn rebranding expense

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited over what it described as the company’s failure to account for approximately ₦5.9 billion allegedly spent on the incorporation, transition and rebranding of the NNPC into NNPCL. SERAP said the NNPC reportedly paid ₦2.9 billion for incorporation expenses […]

featured Oil and Gas

Criminals pose as FG taskforce to steal nine kilometres pipeline — NNPCL

The Nigerian National Petroleum Company Limited has uncovered a disturbing trend in the country’s worsening pipeline vandalism crisis, revealing that well-equipped criminal syndicates are disguising themselves as members of a purported Federal Government task force to steal critical oil infrastructure. The company disclosed that 24 cases of vandalism had been recorded along sections of the […]

Business

NNPC revenue surges 79% to N4.97tn in April 2026

The Nigerian National Petroleum Company Limited recorded a strong improvement in its financial performance in April 2026, with revenue rising significantly to N4.97 trillion from N2.77 trillion in March. According to the company’s April 2026 operational and financial report released on Saturday, the increase represents a month-on-month revenue growth of approximately 79 per cent. The […]

Oil and Gas

NNPCL revenue jumps 79% to ₦4.97tn

The Nigerian National Petroleum Company Limited recorded a 79.23 per cent increase in revenue in April 2026, with earnings rising to N4.971 trillion from N2.774 trillion reported in March, according to its latest monthly financial and operational report. The state-owned energy company also posted a significant rise in profitability, with profit after tax increasing by […]

Oil and Gas

Why we rejected NNPCL’s bid to increase stake in refinery — Dangote

President of the Dangote Group, Aliko Dangote, has disclosed that the company turned down efforts by the Nigerian National Petroleum Company Limited to raise its 7.25 per cent equity holding in the Dangote Petroleum Refinery. The PUNCH reported that Dangote made the revelation during an interview with Nicolai Tangen, the chief executive officer of the […]

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