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Tag: NNPCL

NNPC, First E&P provide free healthcare in host communities
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NNPCL, others partner to lower oil production cost

A Memorandum of Understanding was signed on Monday by the Nigerian National Petroleum Company and the Nigerian Content Development and Monitoring Board with multinational oil companies to shorten the industry’s contracting cycle to an ideal level of no more than 180 working days. The Punch reported that according to a statement made by the management […]

Oil and Gas

NNPCL exports $1.7bn crude as production drops 12% – Report

The Nigerian National Petroleum Company Limited, acting on behalf of numerous stakeholders, facilitated the lifting of a total of 14.23 million barrels of crude oil in 2021, valued at $999.71 million. The Times reported that this is supported by the newly released Nigerian Extractives Industries Transparency Initiative 2021 Oil and Gas Report. According to the NEITI study, […]

NNPCL, Indorama partner on gas supply
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NNPCL, Indorama partner on gas supply

In an effort to encourage the use of natural gas by large-scale gas utilization companies, the Nigerian National Petroleum Company Limited has signed a historic Memorandum of Understanding with Indorama Eleme Petrochemicals Limited on gas delivery. According to Nairametrics, the business made the announcement on Saturday, September 16 via its Twitter account. The action will […]

NNPCL condemns reported sale of NAOC assets to Oando
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NNPCL condemns reported sale of NAOC assets to Oando

      The reported sale of Oil Mining Licences 60, 61, 62, and 63 to Oando Oil Limited by the Nigerian Agip Oil Company has been criticised by the Nigerian National Petroleum Company Limited. In a letter dated September 4, 2023, and written to the managing director of Nigerian Agip Oil Company Limited, Maitama, […]

Four consortia to repair deteriorated pipelines - NNPCL
Oil and Gas

Nigeria’s crude oil production hits 1.6m bpd – Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has stated that President Bola Ahmed Tinubu has reengineered Nigeria’s oil sector, with the country now producing 1.67 million barrels of oil per day. The Times reported that this was said by him on Friday, September 1, 2023, at a news conference. […]

NYSC, Kudimata, NNPCL Foundation partner on financial literacy
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NYSC, Kudimata, NNPCL Foundation partner on financial literacy

The Nigerian National Petroleum Company Limited Foundation has collaborated with the National Youth Service Corps and Kudimata, an educational financial community, to provide fundamental financial skills to corps members. According to The Punch, a recent announcement stated that the NNPC foundation would provide basic financial training to the 60,000 youth corps members now enrolled in NYSC […]

NNPC, First E&P provide free healthcare in host communities
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NNPCL secures $3bn emergency oil loan for naira relief

Juliet Buna The NNPC Limited on Wednesday disclosed that it has signed a Commitment Letter and Term Sheet with AfreximBank for an emergency $3 billion crude oil repayment loan. The company said the agreement was jointly signed by both parties at the bank’s headquarters in Cairo, Egypt. NNPC Limited, in a statement made available to […]

NNPCL denies rumoured petrol price hike
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NNPCL denies rumoured petrol price hike

  Kazeem Owoseni Following the reports of an alleged hike in the price of premium motor spirit, popularly known as petrol in the country, the retail arm of the Nigerian National Petroleum Corporation Limited has come out to debunk the news that it has increased the price of the commodity. It would be recalled that […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

NNPCL reports 121 cases of crude theft in one week – Report

The Nigerian National Petroleum Company Limited has recorded 121 crude oil theft incidents between July 29 and August 4, 2023. The company’s weekly Energy series, which airs on the Nigerian Television Authority Network, claimed this. The study indicates that crude theft occurrences happened in the states of Delta, Rivers, Bayelsa, and Imo. Following is a breakdown of the incidents […]

NNPCL okays CNG usage for Nigerians
Oil and Gas

NNPCL okays CNG usage for Nigerians

The Nigerian National Petroleum Company Limited’s Group Chief Executive Officer, Mele Kyari, has stated that the CNG deployment would be completed by the first quarter of 2024. He made this comment in a video that the NNPCL shared on important details that Nigerians should be aware of in light of the organization’s most recent deal with Nipco […]

FAAC funds to FG, states hit 7-year high in 2023
Business

NNPCL explains N123bn interim dividend to FAAC

The Nigerian National Petroleum Company Limited has provided explanations for why an N123 billion interim dividend for the month of June was paid to the Federation Account Allocation Committee. According to the News Agency of Nigeria, FAAC distributed N907 billion to the three levels of government on Thursday. NNPCL donated N81 billion as a monthly […]