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Tag: NNPCL

Monthly petrol import drops by 990m litres - Minister
Oil and Gas

Monthly petrol import drops by 990m litres – Minister

The Minister of Information and National Orientation, Mohammed Idris said that importation of Premium Motor Spirit, or petrol, into Nigeria has decreased by 50% since the commodity’s subsidies were removed on Wednesday. Economic Confidential reported that, President Bola Tinubu announced the elimination of gasoline subsidies in his inauguration speech on May 29, 2023. The Nigerian […]

FG begins construction of 700km Lagos-Calabar highway
Business

Oil drilling in Nigeria won’t stop – FG

Despite pressure from the West to cease investing in fossil fuels, Nigeria’s Federal Government said on Tuesday to Western countries in America and Europe that it would not stop exploring for fossil resources. According to the PUNCH, it said that several American and European nations had been investing in fossil fuels and were requesting that […]

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

Nigeria’s energy scarcity to end in 10 years – NNPCL

By Melvin Onwubuke   The Nigerian National Petroleum Company Limited has announced, the energy scarcity in the nation would end within 10 years. This was disclosed by Mele Kyari, NNPCl Group Chief Executive Officer, in Abuja on Tuesday, at the opening ceremony of the seventh edition of the Nigerian International Energy Summit, according to The […]

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
featured

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 […]

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