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NNPC, NUPRC remit over N322bn, $116.9m into federation account

The Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission remitted more than N322 billion and $116.9 million into the Federation Account within two months of the implementation of Executive Order 9, signed in February 2026, according to documents presented at Federation Account Allocation Committee meetings. The documents, drawn from presentations by […]

Opinion

NECA queries NNPC refinery deal with chinese firms

The Nigeria Employers’ Consultative Association has raised serious concerns over the recent Memorandum of Understanding signed between the Nigerian National Petroleum Company Limited and Chinese firms for the “restart, completion and expansion” of the Port Harcourt and Warri refineries. It also warned that Nigeria could not afford another failed refinery rehabilitation project. Vanguard reported that […]

Business

NNPC rules out spending on new refinery rehabilitation deal

New information has surfaced regarding the recently signed Memorandum of Understanding between the Nigerian National Petroleum Company Limited and two Chinese firms — Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd — to explore a potential Technical Equity Partnership aimed at supporting the completion and operation of the Port […]

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Atiku faults NNPCL, China deal on Port Harcourt refineries

Former Vice President Atiku Abubakar has urged the Federal Government to halt the Nigerian National Petroleum Company Limited’s refinery partnership arrangement with two Chinese firms, describing the deal as lacking transparency and raising concerns over the technical capacity of the companies involved. In a statement released on Friday through his Senior Special Assistant on Public […]

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NNPCL signs MoU with Chinese firms to revive refineries

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms for the restart, operation and expansion of the Warri and Port Harcourt refineries. Vanguard reported that in a statement on Monday, NNPC’s Chief Corporate Communications Officer, Andy Odey, said the agreement was signed with Sanjiang Chemical Company Limited and […]

Business

NNPCL, Chinese firms partner to revive Warri, Port Harcourt refineries

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms aimed at restarting and expanding the Warri and Port Harcourt refineries. This was disclosed in a press statement dated May 3, 2026, and signed by the company’s Chief Corporate Communications Officer, Andy Odeh. The agreement was signed on April […]

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NNPCL remits N2.89tn to federation account in Q1 2026

The Nigerian National Petroleum Company Limited remitted a total of N2.89 trillion to the Federation Account in the first quarter of 2026. The disclosure was contained in the company’s operational performance report for March 2026, indicating stronger fiscal contributions from Nigeria’s oil and gas sector. The development comes as reforms continue across the petroleum value […]

Trans-Niger pipeline resumes operations after blast
Business

NNPCL completes River Niger crossing on OB3 gas pipeline

The Nigerian National Petroleum Company Limited has announced the completion of the River Niger crossing on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, adding 2 billion standard cubic feet per day to gas transmission capacity. This was disclosed in a statement signed by the company’s Chief Corporate Communications Officer, Andy Odeh, on Thursday. According to the statement, […]

Oil and Gas

NNPCL reports ₦2.68tn revenue despite oil production drop

The Nigerian National Petroleum Company Limited has announced a revenue collection of N2.68 trillion from its economic activities in February 2026, even as crude oil production declined to 1.51 million barrels per day amid pipeline outages and operational setbacks. According to The PUNCH, the company reported a 4.2 per cent increase in revenue for its […]

Business

Oil sector reforms attract $24bn new capital – NNPCL

NNPC Limited has said recent reforms in the oil and gas sector have attracted over $24 billion in new investments, with an additional $10 billion currently in the pipeline, as Nigeria pushes toward its three million barrels per day production target. The Group Chief Executive Officer, Bayo Ojulari, disclosed this on Thursday at the 2026 […]

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