Oil & Gas
NNPC Ltd admits financial strain due to fuel supply costs
NNPC Ltd has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. A statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd said “this financial strain has placed considerable pressure on the Company and poses a threat to the sustainability of fuel supply.” The statement…
Read More »NNPC Ltd Expands Global Market Footprint to Japan, China with LNG Supply on Delivered Ex-Ship Basis
In line with its strategic vision to be a dynamic and reliable global energy supplier of choice, the Nigerian National Petroleum Company Limited (NNPC Ltd) has commenced shipment of Liquefied Natural Gas (LNG) cargoes to Japan and China on Delivered Ex-Ship (DES) basis. NNPC Ltd achieved the milestone through the…
Read More »NNPCL speaks on OVH acquisition, dismisses Atiku’s allegation of criminal hijack of by corporate cabals
The management of the NNPC Ltd has responded to a press release signed by Mr. Paul Ibe, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar where the former Vice President was quoted to have lamented “the criminal hijack of the NNPC by corporate cabals around the current…
Read More »NNPC Ltd Posts N3.3trn Net Profit, Declares N2.1trn Dividend
The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion. In a world press conference held…
Read More »NNPC Ltd denies owing $6.8b
Story by: Abiodun Folarin Nigerian National Petroleum Company Limited (NNPC Ltd.) has reacted to report that it is indebted to international oil traders to the tune of $6.8 billion and that it has not remitted revenues to the Federation Account since January, among other allegations, saying they were not…
Read More »Dangote dismisses speculation of N600/litre fixed petrol price
Ahead of the expected commencement of petrol release to Nigeria’s market this month, Dangote Petroleum Refinery has reacted to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published by a national newspaper of Tuesday August 13,2024, saying it was a mere speculation. A statement by Anthony Chiejina, Group Chief Branding and…
Read More »Kyari Urges Military to Sustain Onslaught Against Crude Oil Theft
The Group CEO of NNPC Ltd., Mr. Mele Kyari, has called on the military to sustain the war against crude oil theft and pipeline vandalism saying the current onslaught against the menace has yielded improved growth in the nation’s crude oil production. Kyari made this appeal when he received in…
Read More »NNPC Ltd says it should be counted out of any claims of economic sabotage
The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari has said the company has not breached any of the enabling laws guiding its dealings with partners, hence should be counted out of any claims of economic sabotage. Kyari, who was addressing the Senate Ad-Hoc Committee investigating alleged economic…
Read More »Senate queries $1.5b spent on P/Harcourt Refinery with little or no result
By Abiodun Folarin The Senate has raised concern over 1.5 billion dollars approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result. Sen. Opeyemi Bamidele, Chairman, Senate Ad Hoc Committee to Investigate the Alleged Economic Sabotage in the Nigerian Petroleum Industry, raised the…
Read More »NNPCL introduces new crude oil grade, Utapate into international oil market
The NNPC Ltd has announced the introduction of Utapate crude oil blend, a new crude oil grade into the international crude oil market. A statement by Olufemi O. Soneye, Chief Corporate Communications Officer NNPC Ltd said, from Oil Mining Lease (OML) 13, fully operated by NEPL, NNPC Ltd’s upstream subsidiary,…
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