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Tag: NNPCL

Domestic refining output falls by 92% - Report
Business

P’Harcourt refinery shuts down for planned maintenance — NNPCL

The Nigerian National Petroleum Company Limited has announced a scheduled shutdown of the Port Harcourt Refining Company for maintenance, starting Saturday, May 24, 2025. In a statement by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, the company said the temporary closure is part of a planned maintenance and sustainability assessment designed to enhance the refinery’s […]

Business

NNPCL eyes 1.9mbd oil output in 2025 – Ojulari

The Nigerian National Petroleum Company Limited is on track to boost crude oil production to 1.9 million barrels per day by the end of 2025, according to Group Chief Executive Officer Bashir Bayo Ojulari. The ambitious target was announced during the inauguration of the NNPC Ltd Board at the State House in Abuja on Thursday, […]

News

Former MDs of Warri, Kaduna, PH refineries threaten N50b lawsuit

Three former Managing Directors of Nigeria’s major refineries have threatened legal action against a leading national newspaper, demanding N50 billion in damages over an alleged defamatory report that linked them to a multi-billion-dollar fraud scandal. The former MDs – Mr. Ibrahim Onoja (Port Harcourt Refining Company), Mr. Efifia Chu (Warri Refining and Petrochemical Company), and […]

Oil and Gas

Marketers lament losses after NNPC’s petrol price cut

Petroleum product marketers expressed concerns on Monday over their losses following a price reduction by the Nigerian National Petroleum Company Limited. The price of Premium Motor Spirit was lowered to N880 per litre in Lagos and N935 in Abuja. NNPC retail outlets in Lagos adjusted their pump price from N925 to N880 on Easter Monday, […]

Oil and Gas

NNPC targets $60b investments, three million bpd output by 2030 — Ojulari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited has unveiled an ambitious growth plan for the company, stating that under his leadership, NNPC aims to secure $30 billion in sectoral investments by 2027, increasing to $60 billion by 2030. In addition, the company is targeting a steady crude oil production level […]

Oil and Gas

How NNPCL crude suspension to Dangote affected OPEC output – Report

The decision by the Nigerian National Petroleum Company Limited to halt crude oil supplies to domestic refineries, including the Dangote Refinery, led to a drop in Nigeria’s oil production in March. A Reuters survey revealed that this reduction in deliveries contributed to a decline in OPEC’s overall oil output for the month. Nigeria’s oil supply […]

News

NNPCL unveils new senior management team

The Nigerian National Petroleum Company Limited has announced the appointment of a new eight-man Senior Management Team to strengthen corporate governance and enhance operational efficiency This follows the recent appointment of Bayo Ojulari as the Group Chief Executive Officer of NNPCL. This was disclosed a statement signed by the Chief Corporate Communications Officer, NNPC Ltd, […]

NNPCL moves to sell shares, seeks strategic partners
Oil and Gas

NNPCL moves to sell shares, seeks strategic partners

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that it is in the final stages of preparations for its anticipated listing on the capital market, in compliance with the Petroleum Industry Act 2021. In a statement released on Thursday in Abuja, NNPC Ltd’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed that the company […]

Nigerian National Petroleum Corporation Limited logo
News

Nigeria’s oil reforms attracted $17bn in investments – NNPCL

The Nigerian National Petroleum Company Limited has announced that reforms in the oil and gas sector, driven by the Petroleum Industry Act 2021 and executive orders from President Bola Tinubu, attracted approximately $17 billion in foreign investment in 2024. The Executive Vice President of Upstream, Udy Ntia, disclosed this during an investor session at the […]

News

NNPCL, Dangote refinery in talks to renew naira-for-crude deal

The Nigerian National Petroleum Company Limited and Dangote Petroleum Refinery are actively negotiating a new naira-for-crude agreement, as the current six-month contract is set to expire on March 31, 2025. This arrangement allows NNPCL to supply crude oil to Dangote Refinery in exchange for payment in naira, aiming to bolster domestic refining and reduce reliance […]

News

NNPCL calls for third-party operators to revive idle oil assets

The Executive Vice President of Upstream at NNPCL, Udobong Ntia, has proposed involving third-party operators to revitalize idle and underperforming oil and gas assets in Nigeria. This approach aims to boost crude oil production and optimize the country’s hydrocarbon resources. This recommendation was disclosed Ntia at on Thursday at the Heirs Energies Leadership Forum 2025 […]

News

Dangote, NNPCL refineries not meeting 50% local fuel needs – FG

Despite a combined refining capacity of 985,000 barrels per day, Nigeria’s three operational refineries—Port Harcourt, Warri, and Kaduna—supply less than 50% of the country’s daily petrol needs, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The NMDPRA stated that the supply gap is being covered by importing refined petroleum products, revealing that Nigeria’s […]

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