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NNPC lacks required funds to fix old pipelines – Minister 

The Federal Government has said that the Nigerian National Petroleum Company Limited lacks the necessary funds to rebuild its aging pipeline infrastructure. This was revealed by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the 2024 Energy and Labour Summit held in Abuja, according to The Punch. Lokpobiri emphasized the urgent necessity […]

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FIRS remittance: NNPCL deducts $262.55m for road tax credit scheme

The Nigerian National Petroleum Company Limited has deducted $262.55 million from its remittances to the Federal Inland Revenue Service under the Road Infrastructure Tax Credit Scheme. This information was revealed in a report from the FAAC Post-Mortem Sub-Committee (PMSC) meeting held in August 2024, according to Nairametrics. The report details that NNPCL deducted $52.51 million […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPCL reports N2.69trn in tax expenses for 2023

The Nigerian National Petroleum Company Limited  has reported a total tax expense of N2.69 trillion for the fiscal year 2023, according to its financial statement published yesterday on the company’s website. However, the actual taxes paid by NNPCL in 2023 amounted to N1.17 trillion. This total includes N497.26 billion in income tax and N669.09 billion […]

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FG pays NNPC to sell PMS at half price of landing cost – CFO

The Chief Financial Officer of the Nigeria National Petroleum Company Ltd, Alhaji Umar Ajiya has revealed that the government compensates the company for selling PMS at half the landing cost, a term he refers to as the “shortfall.” The C.F.O., provided this clarification on Monday in Abuja while presenting the company’s 2023 full-year result where […]

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NNPCL reports record N3.29trn profit for 2023

Alex Omenye The Nigerian National Petroleum Company Limited has announced a record net profit of N3.297 trillion for the financial year ending December 2023, marking the highest profit in the company’s 46-year history. This represents a significant increase of over N700 billion, or 28%, compared to the N2.548 trillion profit recorded in 2022. During a […]

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NNPC denies selling job slots to applicants 

The Nigerian National Petroleum Company Limited has urged the public, especially job seekers to reject rumours that they can purchase employment opportunities. The firm stated that the rumours that it is offering job slots to anyone who wants to buy are completely untrue, describing them as the actions of con men looking to exploit gullible […]

Port Harcourt refinery begins operation in Rivers
News Oil and Gas

NNPCL postpones Port Harcourt refinery start date

The Port Harcourt Refining Company, a refinery managed by the Nigerian National Petroleum Company Limited, has now again failed to start operations after six postponements, according to The Punch. It is reported that the federal government and NNPCL has continued to fail Nigerians on its pledge to make the refinery operational by this multiple postponements. […]

FG shuts down unlicensed fuel marketers
News Oil and Gas

Edo refinery lament NNPCL’s failure to supply crude

The management of AIPCC Energy Limited, which operates the Edo Refinery and Petrochemicals Company Limited, has expressed concern over the continued scarcity of crude oil, despite the fact that the refinery is fully operational and capable of producing 1,000 barrels per day. The management stated on Saturday that despite President Bola Tinubu’s directive mandating the […]

News

Fire incident not connected to new CNG station – NNPCL 

The Nigerian National Petroleum Company Limited has said the explosion at a Mobil filling station in Lagos had nothing to do with the recently launched Compressed Natural Gas stations in the state. However, in the statement signed by the Chief Corporate Communications Officer NNPCL, Olufemi Soneye, on Thursday, the national oil company failed to mention […]

NNPCL reports N2.69trn in tax expenses for 2023
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NNPC website crashes over job applications traffic

The Nigerian National Petroleum Company Limited website has experienced technical difficulties due to an overwhelming number of job applications, causing slow load times and access issues for prospective applicants. This disruption follows NNPC’s recent announcement of a major recruitment drive, seeking skilled individuals for various positions within the company. The response has been so robust […]

News Oil and Gas

Nigeria produced 236m barrels of crude in H1 – NUPRC

Nigeria produced a total of 236,229,281 barrels of crude oil in the first half of 2024, according to The Punch. The nation produced 44.2 million barrels of petroleum in January and 38.3 million barrels in February, According to data obtained from the Nigerian Upstream Petroleum Regulatory Commission. Also, 38.1 million barrels were produced in March, […]