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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 […]

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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 […]

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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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Top up fuel payment or request refund, NNPC tells marketers

The Nigerian National Petroleum Company Limited has urged petroleum marketers who applied to buy fuel via its online portal to adjust their payments to reflect current prices, warning that failure to do so may lead to the forfeiture of their allocations. NNPC spokesperson Andy Odeh said that marketers unable to meet the revised ex-depot rates […]

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NNPC MD appointed Nigeria’s representative to OPEC

The Nigerian National Petroleum Corporation Limited has congratulated Maryamu Idris on her appointment as Nigeria’s National Representative to the Organisation of the Petroleum Exporting Countries. In a statement posted on its official X handle on Wednesday, NNPC described the appointment as a significant step in advancing Nigeria’s interests within the global oil producers’ group. “We […]

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JUST IN: EFCC grants ex-NNPCL boss Kyari bail

The Economic and Financial Crimes Commission has granted administrative bail to the former group chief executive officer of the Nigerian National Petroleum Company limited, Mele Kyari. Mele Kyari on wednesday honoured an invitation by EFCC over an alleged $7.2 billion dollar fraud during his tenure as the boss of the nation’s oil company. Kyari was […]

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NNPCL eyes $60b investment to expand Nigeria’s gas infrastructure

The Nigerian National Petroleum Company Limited aims to attract $60 billion in new investments over the next five to seven years to enhance the country’s gas infrastructure. NNPCL’s Group Chief Executive Officer, Bayo Ojulari, made this disclosure on Tuesday while addressing an international audience at the Gastech Exhibition and Conference in Milan, Italy. He said […]

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Ex-NNPC GM faces 25 years in US prison for bribery

Former employee of the Nigerian National Petroleum Corporation Limited, Paulinus Okoronkwo, now risks a maximum of 25 years’ imprisonment for allegedly receiving a bribe of $2.1 million from a Swiss company while in the service of the corporation. In a statement released by the United States Attorney’s Office in the Central District of California, Okoronkwo’s […]

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