NNPC can’t justify N6.34tn petrol subsidy – Customs

The Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), has stated that the Nigerian National Petroleum Company Limited (formerly Nigerian National Petroleum Corporation) cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to…

NNPC seeks closer tie with independent oil producers on industry reforms

The group managing director of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kolo Kyari, has told a delegation of the Independent Petroleum Producers Group (IPPG) that the industry is at a critical phase with the ongoing reforms and…

Two dead, 30 vehicles burnt in Lagos pipeline explosion – LASEMA (Punch)

The Lagos State Emergency Management Agency has said two people have been confirmed dead and 30 vehicles burnt in the Ijegun, Lagos pipeline explosion. The spokesperson for the agency said the total loss would be determined at the end of…

Nigerians won’t experience fuel scarcity this Yuletide – Reps (Punch)

December 6, 2018 The House of Representatives’ Committee on Petroleum (Downstream), has expressed confidence that the measures put in place by the Nigerian National Petroleum Corporation to avert fuel supply shortage would be successful this year. According to the committee,…

Nigeria to raise oil, condensate outputs in 2019 (Guardian)

Nigeria is to increase its daily oil production to 1.8 million in 2019. It would also raise its condensate output by 0.5 million bpd during the period. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti…

Documents show ‘broke’ NNPC stacked trillion naira debt, unable to meet commitments (PremiumTimes)

The Nigerian National Petroleum Corporation (NNPC) was unable to meet its debt obligations as due in January, as a result of inadequate finances, documents seen by PREMIUM TIMES have shown. The national oil company was also encumbered by huge outstanding…

Pan Ocean’s multimillion-dollar pipeline to deliver value in 2019 (DailyTimes)

The massive investment that Pan Ocean, a leading indigenous oil and gas sector player has made in its Amukpe-Escravos Pipeline Project (AEPP) is set to begin to pay off in 2019 and beyond as the project enters completion stage. The…

NNPC’s trading surplus hits N18bn over higher oil sales, others (Vanguard)

Nigerian National Petroleum Corporation, NNPC, yesterday, attributed the rise in its trading surplus in the month of May 2018 to the improvement in the financial performance of its subsidiaries and the high volume of crude oil production and sales in…

NNPC records N17.16b trading surplus (Nation)

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a…

NNPC explains drop in gas supply (Guardian)

The Nigerian National Petroleum Corporation (NNPC) has said that the drop in power generation could have been triggered by the continuous rejection of load by the distribution companies due to frequency management. The corporation disclosed this in a statement signed…

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