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Tag: NNPCL

SERAP sues Wike, governors, over failure to account for N40tn LGA allocations
Oil and Gas

SERAP gives NNPCL seven days to explain $2.04bn, N164bn missing oil income

The Nigerian National Petroleum Company Limited has been contacted by the Socio-Economic Rights and Accountability Project to provide an explanation and account for the purported loss of $2.04 billion and N164 billion in oil profits over the course of seven days. As noted in the most recent annual report issued by the Auditor-General of the Federation, […]

News

NNPCL board authorizes transfer of dollar revenue to CBN

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, revealed on Thursday that the Central Bank of Nigeria has established a department to handle transactions involving the sale of crude oil by the company. The PUNCH reported that the decision to shift a sizable chunk of the company’s revenue to the central […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPCL debunks plans to increase fuel price

The Nigerian National Petroleum Company Ltd. has refuted reports that Premium Motor Spirit, also referred to as petrol, could soon see a price increase. Some drivers have recently had trouble purchasing petrol at petrol stations due to concerns that the government may raise the cost of this essential commodity. Long lines started to reemerge at various […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

Oil unions, others receive over N1bn in donations –  Reports

The Nigerian National Petroleum Company Limited has stated that it donated N1.65 billion to different charities over the course of 16 months, with additional funds not disclosed. The PUNCH reported that NNPCL consolidated and separate financial statements for the period of September 2021 to December 2022 included this information. NNPCL noted in the report that “during the […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPCL attracts South Korean investors for gas projects

The Nigerian National Petroleum Company Limited has met with a South Korean consortium led by Daewoo E & C to discuss the development of gas projects in Nigeria. According to The PUNCH, NNPCL said in a statement issued in Abuja on Tuesday that the discussions in Seoul, South Korea, intended to strengthen the oil company’s […]

NNPCL secures $2bn oil-for-cash loan from Afreximbank, UBA
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NNPCL secures $2bn oil-for-cash loan from Afreximbank, UBA

The African Export-Import Bank as well as the United Bank for Africa have disbursed $2.25 billion from a $3.3 billion oil-for-cash loan facility created by the Nigerian National Petroleum Company Limited. The first payment of $2.25 billion has been disbursed, with a second tranche of $1.05 billion scheduled to follow. The $3.3 billion emergency loan […]

Dangote refinery investors gain N1.2tn in two days
Oil and Gas

NNPCL to complete Port-Harcourt refinery test run January

The NNPCL has announced that a test run on the 60,000-bpd refinery in Port-Harcourt will be completed this month, followed by a full resume of work later. The NNPCL’s spokesperson, Femi Soneye, stated on Friday. “Testing will be completed shortly, ensuring the refinery’s efficient operation. This phase will be finished this month.” The refinery, which is now […]

Dangote fuel will be sold in naira not dollars - IPMAN
Oil and Gas

No plans to increase fuel price – NNPCL

The Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that there would be no increase in the price of Premium Motor Spirit, commonly known as petrol. This was announced in a statement on X which was signed by the company’s chief corporate communications officer, Olufemi Soneye, as it warned motorists against panic buying. The statement came […]

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

NNPCL receives awards for transparency, innovation

The Nigerian National Petroleum Company Ltd. has earned this year’s The Whistler Newspaper Award for Transparency and Innovation. The PUNCH reported that this was revealed in a statement by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye. The Company’s Group Chief Executive Officer, Mr Mele Kyari, accepted the award on behalf of the Company from the Governor […]

Former NNPC GMD, Thomas John, passes away at 84
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Former NNPC GMD, Thomas John, passes away at 84

The former Group Managing Director of the Nigerian National Petroleum Company Limited, Dr. Thomas Maurice Asuquo John, died today, December 14, 2023. This was revealed by the NNPC Ltd. Chief Corporate Communications Officer, Olufemi O. Soneye who signed a statement on Thursday afternoon via X. Dr. John was the Acting Alternate Chairman of the Board of the now-defunct […]

NNPC, First E&P provide free healthcare in host communities
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NNPCL defends fuel import monopoly

Nigerian National Petroleum Company Limited, Mele Kyari, has justified the company’s present monopoly in fuel importation by claiming that oil marketers pulled out of the fuel import market as a result of price volatility. The Punch reported that speaking on Wednesday at the National Assembly complex before the Senate Committee on Finance, Kyari claimed that […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPCL moves to end fuel import Dec 2024

          The Nigerian National Petroleum Company Limited has announced its plan to halt the importation of refined petroleum products by December 2024, coinciding with the full operational status of all national refineries. The company also projected an increase in revenue to N4.5 trillion by the conclusion of 2023. Additionally, the rehabilitation […]

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