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Extractive Industries Transparency Initiative commends NNPC on 2019 audited account

Ihesiulo Grace 4 November 2020 0

For promoting the culture of openness in the country’s oil behemoth, the Extractive Industries Transparency Initiatives (EITI), a multi-stakeholder coalition that promotes transparency and accountability in over 50 countries, has commended the Group Managing Director of the Nigerian National

News

NNPC, SEEPCO sign deal on OML 143

Ihesiulo Grace 28 September 2020 0

By Doosuur Iwambe Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO) have signed an agreement for the development and commercialisation of gas from the Oil Mining Lease (OML) 143. The corporation said this in a statement signed by NNPC spokesman, Dr Kennie Obateru. According to the statement, the agreement will

Money

Why FG took over revenue management of NNPC, NPA other ‘juicy’ agencies

Ihesiulo Grace 24 September 2020 0

By Philip Clement As Nigeria battles funds paucity arising from the impact of the Covid-19 pandemic, the Federal Government has announced the taking over of some of its ‘juicy’ revenue generation agencies. The 10 government-owned enterprises (GOE) named in the first phase of the initiative are Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA)

News

Kyari knocks N’Assembly over delayed PIB

Ihesiulo Grace 23 September 2020 0

Decries loss of investor confidence in oil, gas sector By Doosuur Iwambe Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has said that the absence of a stable fiscal environment is inhibiting the growth of the oil industry, especially the upstream sector. Kyari stated this while receiving members of […]

Business News Oil & Gas

Oil and gas industry no longer attractive to investors — NNPC

Ihesiulo Grace 22 September 2020 0

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kyari, says the financial instability in the petroleum industry is to be blamed for the stunted growth in the Nigerian petroleum industry, Daily Times gathered. Kyari spoke when he received the House of Representatives Committee on Petroleum Resources (Upstream). He said international

Metro

FCC lauds NNPC on women inclusion, AKK project

Ihesiulo Grace 22 September 2020 0

By Doosuur Iwambe Federal Character Commission (FCC) has applauded the Nigerian National Petroleum Corporation (NNPC) for ensuring a high level of gender balance in management positions in the Corporation. Executive Chairman of the Commission, Dr. Muheeba Farida Dankaka, gave the commendation while playing host to the management of the NNPC led by the Group managing […]

News Oil & Gas

No refinery is functioning in Nigeria — NNPC declares

Ihesiulo Grace 10 September 2020 0

Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mele Kyari, says the four oil refineries in Port Harcourt, Warri, and Kaduna have been shut down, Daily Times gathered. He explained that the reason was because all four refineries were functioning below capacity and it had thus become necessary to stop them from operating all together. […]

Oil & Gas

NIMASA wants NNPC to involve local shipowners in lifting of crude oil

Ihesiulo Grace 8 September 2020 0

By Temitope Adebayo The Nigerian Maritime Administration and Safety Agency (NIMASA) has urged the Nigerian National Petroleum Corporation (NNPC) to involve indigenous shipowners in the affreightment of crude oil in line with the cabotage regime. The director-general, NI- MASA, Dr Bashir Jamoh, disclosed this in Lagos when he received a delegation from the Nigerian National

Oil & Gas

NNPC obtains $1bn to support NPDC upstream operations

Ihesiulo Grace 7 September 2020 0

By Tunde Shorunke The Nigerian National Petroleum Corporation (NNPC) has said that it has obtained a prepayment funding of US$1billion for Nigerian Petroleum Development Company (NPDC) to support its upstream operations and its subsidiary. This was disclosed in a statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr Kennie Obateru […]

Business News

NNPC spends ₦53bn on fuel subsidy in June

Ihesiulo Grace 31 August 2020 0

Latest figures from the Nigerian National Petroleum Corporation (NNPC) have shown that the oil firm made an under-recovery of N5.348bn in June this year. Under-recovery is the losses incurred by the oil firm due to the difference between the subsidised price at which the corporation sells petrol and the price which it should have received […]

News

NNPC GMD urges pay cut to avoid job loss

Ihesiulo Grace 29 August 2020 0

By Ukpono Ukpong Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD), Malam Mele Kyari, has said that since operations cost takes 46 per cent of its income from crude oil, it was necessary to cut down production. This implies that the industry has to reduce its activities, which is tantamount to downsizing the workforce, […]

News

NNPC petrol pipeline leakage at Isheri finally confirmed

Ihesiulo Grace 23 August 2020 0

On Sunday, Lagos State Fire and Rescue Service verified the leakage of petrol from the Nigerian National Petroleum Corporation (NNPC) Atlas Cove-Mosimi System 2B Pipeline at Isheri in the local government area of Alimosho. The development was confirmed by Mrs Margret Adeseye, Acting Head, Lagos State Fire and Rescue Service, in a statement signed by […]

News

NNPC becomes EITI-supporting

Ihesiulo Grace 20 August 2020 0

By Doosuur Iwambe and Joy Obakeye Nigerian National Petroleum Corporation (NNPC) has become an Extractive Industries Transparency Initiative supporting company. It this joins a group of over 65 extractives companies, stateowned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI-supporting company

News

Kyari reveals NNPC now EITI supporting company

Ihesiulo Grace 18 August 2020 0

The group managing director of Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari on Tuesday revealed the corporation has become an Extractive Industries Transparency Initiative (EITI) supporting company. READ ALSO: FG Rebrands NITDA, Unveils Digital Cybersecurity Centre Kyari, in a tweet, announced to Nigerians the partnership between NNPC and EITI

Business Energy News

NNPC records 43 percent drop in oil pipeline

Ihesiulo Grace 5 August 2020 0

The Nigerian National Petroleum Corporation (NNPC) has stated that the vandalism of its pipelines across the country has drop by 43 percent in May 2020, our correspondent, Doosuur Iwambe reports. This information is part of the monthly financial and operations report, which was released on Wednesday, August 5, 2020 in Abuja. According to the General […]

Business

Alleged $125 million crude oil scam unsettles NNPC

Ihesiulo Grace 31 July 2020 0

Nigerian National Petroleum Company (NNPC) has stated its own side of the story on an alleged plot by “an international crime syndicate to extort and defraud” the oil firm and the Federal Government of $125 million. Daily Times gathered that this was contained in a statement by its counsel, Afe Babalola & Co. The statement […]

Business

NNPC records 19% gas to power supply increase in April

Ihesiulo Grace 10 July 2020 0

The Nigerian National Petroleum Corporation (NNPC) has announced an increase of 19.14 per cent in the average daily natural gas supply to power plants which translate to 788millon standard cubic feet of gas per day (mmscfd), equivalent to power generation of 2,873MW. The NNPC, in a release by its Group General Manager, Group Public Affairs Division, […]

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$9.8bn is gift from friends, says Yakubu

Ihesiulo Grace 9 July 2020 0

Embattled former Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, told the Federal High Court in Abuja on Wednesday that 98 per cent of $9.8billion found in his house in Kaduna by the Economic and Financial Crimes Commission (EFCC) were gifts from friends and associates. He said that the money 9.7 million […]

News

Just In: Explosion kills 7 at NNPC facility

Ihesiulo Grace 8 July 2020 0

The Nigerian National Petroleum Corporation (NPDC) has  announced the explosion on Oil Mining Lease 40 operated by the Nigerian Petroleum Development Company that killed seven workers.     NPDC is the flagship subsidiary of NNPC. The explosion occurred on Tuesday at the petroleum company’s Benin River Valve Station. African economy to decline by $189.7bn The […]

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NNPC redeploys top officials

Ihesiulo Grace 5 July 2020 0

The Nigerian National Petroleum Corporation (NNPC) has redeployed some top management staff members. It said the move was part of ongoing efforts to reposition the corporation for greater efficiency, transparency and profitability. NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, announced this in a statement on Sunday in Abuja. Obateru said