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Tag: NNPCL

Oil and Gas

Nigeria can leverage its gas reserves to drive industrial development – Mele Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that gas has a vital role to play in driving economic growth and industrial revolution in Nigeria. This was disclosed in a statement signed by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye on Wednesday on via NNPCL’s […]

Oil and Gas

Port Harcourt refinery resumes operation in April – NNPCL

The Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, has said the Port Harcourt refinery will commence operations in about two weeks time. According to Kyari, the mechanical works at the Port Harcourt, Warri and Kaduna refineries have been completed, indicating that the Kaduna refinery will start operations in December. This […]

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
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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 […]