Politics

Senate indicts NNPC over failure to provide details of N102bn crude oil delivery

Ihesiulo Grace 5 April 2023 0

…demands audit of crude oil delivered to Warri, Kaduna refineries By Tunde Opalana Senate on Wednesday indicted Nigerian National Petroleum Coporation (NNPC) over poor record keeping for lifting of crude oil worth about $376, 655,589 (N102.6 billion) to Warri Refinery and Petrochemical Company

News

$1.6b money laundering trial: Two former top NNPC officials bag 2yrs imprisonment

Ihesiulo Grace 11 February 2023 0

By Benjamin Omoike Two former top officials of the Nigerian National Petroleum Corporation (NNPC), Victor Briggs and Abiye Membere, have been sentenced to two years imprisonment by the Federal High Court sitting in Abuja. Justice Nnamdi Digmba handed them the sentence on Wednesday, February 8, 2023, after he found them guilty of “unethically collecting car […]

News

Senator Margery Chuba-Okadigbo: One year of NNPCL and the sojourn for energy revolution in Nigeria

Ihesiulo Grace 11 January 2023 0

By Benjamin Anyaegbunam 7th January marked One year anniversary of the Inauguration of the Nigerian National Petroleum Company (NNPC) Limited by President Muhammadu Buhari with Senator Margery Chuba-Okadigbo as the Chairman of the newly inaugurated Energy Company. Senator Margery Chuba-Okadigbo leads the Most capitalised Energy Company in the sub-Sahara Africa, Like

News

NNPC Signs MoU with Gambian, Ghanaian firms

Ihesiulo Grace 7 December 2022 0

By Godwin Anyebe The Nigerian National Petroleum Company NNPC Limited has signed five memoranda of understanding with the national oil companies and relevant entities of five African countries on the Nigeria-Morocco Gas Pipeline Project. The five national oil companies and relevant entities were from Gambia, Ghana, Guinea, Guinea Bissau and Sierra Leone. The signing

News

FG targets 10m tons of gas production in 5 years – NNPC boss

Ihesiulo Grace 28 October 2022 0

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Melee Kyari has disclosed that Nigeria has market opportunities for Liquefied Petroleum Gas (LPG) of 10 million tons by 2027. He spoke in Lagos during the International Conference and Exhibition to commemorate the 15th anniversary of Domestic LPG supply organised by […]

Headlines

NNPC ready for forensic audit of fuel supply

Ihesiulo Grace 5 September 2022 0

The Nigerian National Petroleum Company Limited (NNPC Ltd) has offered to submit itself for forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres. The NNPC made this known on Sunday in a statement signed by Malam Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC. Muhammad […]

Headlines

NNPC can’t justify N6.34trn petrol subsidy-Customs

Ihesiulo Grace 3 September 2022 0

By Godwin Anyebe The Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (rtd), has stated that the Nigerian National Petroleum Company Limited NNPC, (formerly Nigerian National Petroleum Corporation) cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity

News

NNPC, contractors renew production sharing agreements

Ihesiulo Grace 13 August 2022 0

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and its partners in Oil Mining Leases (OMLs) on Friday signed renewed Production Sharing Contracts (PSCs) agreements to produce 10 billion barrels of oil cumulatively. The development finalised negotiations on renewed PSC, in line with the new provisions of the Petroleum Industry Act (PIA) Section 311. The […]

Headlines

Port Harcourt Refinery ready by March 2023, NNPC tells House

Ihesiulo Grace 6 June 2022 0

By Tom Okpe Group Managing Director of the Nigeria National Petroleum Company, (NNPC) Mele Kyari, has revealed that ongoing rehabilitation of the Port Harcourt refinery will be completed by March, 2023. Kyari said this at the resumed Investigative Hearing into the state of refineries in the country by the House of Representatives Ad-hoc Committee, chaired […]

Business Headlines

Four months after declaring N287bn profit, Nigerians still await NNPC audit report

Ihesiulo Grace 29 November 2021 0

*Doubts, anxiety persist as Corporation keeps mum *Come clean, publish details of all dividends received, stakeholders urge organisation Doosuur Iwambe, Abuja About four months after the Nigerian National Petroleum Corporation (NNPC) announced that the corporation recorded N287 billion profit in 2020, Nigerians are still awaiting details of the audited report. This is just

News

NNPC gets FEC’s nod to deploy N621.2bn tax liabilities to road projects

Ihesiulo Grace 28 October 2021 0

The Federal Executive Council (FEC) has given the Nigerian National Petroleum Corporation (NNPC) the approval to deploy some of its tax liabilities to 21 road projects across the six-geo-political zones. Babatunde Fashola, Minister of Works and Housing, briefed State House correspondents after a virtual FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday

News

Anxiety As FRC conducts financial statements review of NNPC, Banks, others

Ihesiulo Grace 27 October 2021 0

Philip Clement Abuja The Financial Reporting Council, (FRC) is currently undertaking review of the financial statement of the Nigerian National Petroleum Corporation, NNPC, Banks, Pension Fund Administrators and Custodians to ensure compliance with the Financial Reporting Council Act. The Executive Secretary, Financial Reporting Council (FRC), Ambassador, Shuaibu Ahmed

News

NNPC weekly review: FG approves incorporation of NNPC Ltd

Ihesiulo Grace 26 September 2021 0

In consonance with Section 53(1) of the Petroleum Industry Act 2021, which requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the Petroleum Industry Act (PIA) in consultation with the Minister of Finance on the nominal shares of the Company, President Muhammadu […]

Headlines News

44yrs after establishment, Buhari announces N287bn as NNPC net profit

Ihesiulo Grace 27 August 2021 0

*Says Q2 GDP growth reflects Nigeria’s economic rebound In fulfillment of an earlier pledge by the Federal Government to publicly announce the financial position of the Nigerian National Petroleum Corporation (NNPC), President Muhammadu Buhari has disclosed a Net Profit of N287 billion, first time in the 44-year history of the establishment. The President, who doubles […]

Oil & Gas

NNPC redeploys staff, names new spokesperson

Ihesiulo Grace 10 August 2021 0

The Management of the Nigerian National Petroleum Corporation (NNPC) has announced the promotion and redeployment of some staff to fill key vacant positions in the corporation. The corporation made this known in a statement by its spokesperson, Dr Kennie Obateru, in Abuja on Monday. It stated that the appointments and redeployments were to strengthen and […]

Business

NNPC to acquire $2.7bn stake in Dangote refinery

Ihesiulo Grace 5 August 2021 0

The Nigerian government has given the state-owned Nigerian National Petroleum Corporation (NNPC) permission to buy a 20% share in the Dangote refinery for $2.76 billion. In the Lekki Free Zone near Lagos, a 650,000bpd integrated refinery project is now under development. The refinery, which is anticipated to cost $18 billion when completed, will be Africa’s […]

Headlines News

Court awards N82Bn damages against Mobil, NNPC over oil spillage

Ihesiulo Grace 22 June 2021 0

ANDREW OROLUA, ABUJA. A Federal High Court in Abuja on Monday awarded a cumulative damages of N81.9 billion against oil giant Mobil Producing Nigeria Unlimited and its Joint venture partner the Nigerian National Petroleum Corporation (NNPC). The judgment debt, the court ordered must be paid within 14 days failing which 8 percent interest will begins […]

News

Court bars EFCC from amending charges against NNPC’s ex-GMD Yakubu

Ihesiulo Grace 18 June 2021 0

ANDREW OROLUA, ABUJA. A Federal High Court sitting in Abuja has barred the Economic and Financial Crimes Commission (EFCC) from amending the criminal charge it filed against a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Andrew Yakubu. Trial Judge, Justice Ahmed Mohammed gave the order, Thursday, in a ruling on […]

Headlines Politics

Updated: Governors allege impunity at CBN, NNPC, NIMASA, others

Ihesiulo Grace 15 June 2021 0

*Say Buhari’s ego not enough to suspend Twitter *Insist APC will go with President in 2023 Tunde Opalana, Abuja and ISAAC JOB, UYO The Peoples Democratic Party (PDP) Governors’ Forum rose from a meeting in Uyo, Akwa Ibom State, on Monday, urging the Federal Government to rein in its agencies which have been allegedly operating […]

Headlines News

NNPC, Egbin collaborate to boost gas-to-power programme

Ihesiulo Grace 15 June 2021 0

The Nigerian National Petroleum Corporation (NNPC) and the Egbin Power Plc have pledged to deepen collaboration to ensure the success of the Federal Government’s gas-to-power programme. The Chief Operating Officer, Gas, NNPC, Mr Yusuf Usman and Chairman, Board of Directors, Egbin Power Plc, Mr Temitope Sonubi, made the pledge during a facility visit of the […]