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Tag: NNPCL

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

NNPCL plans 20% increase in Dangote Refinery stake

The Nigerian National Petroleum Company Limited on Tuesday disclosed plans to raise its equity stake in the $20 billion Dangote Petroleum Refinery to 20 per cent, as part of efforts to strengthen Nigeria’s domestic refining capacity and consolidate its position in the downstream oil sector. The Group Chief Executive Officer of NNPC, Bayo Ojulari, made […]

Business

Nigeria eyes $60b energy investment under NNPC’s 2030 vision

The Nigerian National Petroleum Company Limited has announced plans to attract $60 billion in investments by 2030 through strategic partnerships aimed at advancing Africa’s energy transition. Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference 2025 in […]

Business

NNPCL seeks joint investments to unlock Africa’s energy prosperity

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has urged energy firms and financial institutions to adopt co-investment strategies to de-risk Africa’s infrastructure and promote shared prosperity. In a post on X on Monday, NNPC said Ojulari made the call during a closed-door session of the Global Oil Club, […]

featured

NNPC to upgrade downstream infrastructure nationwide – Ojulari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, says the company plans to upgrade and expand its existing downstream infrastructure nationwide. Speaking at the opening of the 2025 OTL Africa Downstream Energy Week in Lagos on Monday, Ojulari said the initiative is aimed at strengthening collaboration and improving operational efficiency across […]

Business

NNPCL suffers ₦380bn revenue loss in September

The Nigerian National Petroleum Company Limited experienced a decline in both production and earnings, losing approximately N380 billion in September 2025 compared to the previous month, according to its latest monthly performance report. The report showed that total revenue for September stood at N4.27 trillion, down from N4.65 trillion in August, reflecting a month-on-month drop […]

Business

FG extends probe of NNPC remittances to December 2024

The Federal Government has extended the ongoing probe and reconciliation of payments by revenue-generating agencies, including the Nigerian National Petroleum Company Limited, until December 2024, due to unresolved discrepancies in remittances. The extension followed NNPC’s submission of its response to allegations of under-remitting $42.37 billion (about ₦12.91 trillion) to the Federation Account between 2011 and […]

Business

NNPC, Sahara unveil Nigeria’s first indigenous 2.2m-barrel floating vessel

NNPC Limited, Sahara Group, Eroton E&P, and Bilton Energy Ltd have jointly unveiled Nigeria’s first fully indigenous Floating Storage and Offloading vessel, with a capacity of 2.2 million barrels, aimed at boosting long-term oil and gas production. In a statement on Wednesday, the companies noted that the facility marks Nigeria’s first new crude oil terminal […]

Oil and Gas

Nigeria suffered 16% oil output loss over PENGASSAN-Dangote dispute

Nigeria reportedly suffered 16 per cent crude and gas production losses following a three-day oil workers’ strike that briefly threatened crude supplies to the Dangote Refinery before being called off. According to Bloomberg, Africa’s largest crude producer lost 283,000 barrels of oil per day within the first 24 hours of the strike, which was organized […]

Business featured

NNPCL warns of heavy losses from PENGASSAN strike

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bashir Ojulari, has raised alarm over significant crude and gas output losses caused by the three-day strike of the Petroleum and Natural Gas Senior Staff Association of Nigeria. In a letter dated September 29, 2025, and addressed to the Nigerian Midstream and Downstream […]

Dangote Refinery's polypropylene to enter market
Oil and Gas

NNPCL, Dangote Refinery sign new crude supply deal

The Nigerian National Petroleum Company Limited has signed a new two-year crude supply agreement with the Dangote Petroleum Refinery, ensuring a steady supply of crude to the 650,000-barrel-per-day refinery located in Lekki, Lagos. This deal aligns with the Federal Government’s determination to supply more crude to the facility, especially in naira. According to the Chief […]

Oil and Gas

NNPCL reports 91.3% increase in monthly profit to N539bn

The Nigerian National Petroleum Company Limited has reported a significant increase in its monthly profit, rising by 91.3 per cent to N539 billion in August 2025, up from N185 billion recorded in July. According to the company’s Monthly Report Summary for August 2025, NNPCL’s revenue also increased to N4.655 trillion, compared to N4.406 trillion in […]

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