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Tag Archives: Nigerian National Petroleum Corporation (NNPC)

New rule on cleaner fuel by July may spark off pump price hike soon—Survey

NNPC Headquarters

The chances of the Nigerian National Petroleum Corporation (NNPC) to begin to import less sulphur content come July, the agreed terminal date for end of dirty fuel are looking very slim considering paucity of fund which may force it to revert to old order. Otherwise, indications are rife that NNPC, the current sole importer of PMS may keep buying cheaper, ...

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N264bn spent in ‘maintaining’ 4 refineries in 16 years, but nothing to show for it—Report

refinery

New report released in Abuja has revealed that contrary to earlier claims that the four refineries were not maintained within the 16 years of former ruling party, about N264 billion was expended on them but they suffered epilepsy due to corruption. Otherwise, documents sourced from the Nigerian National Petroleum Corporation (NNPC) indicated that N264 billion were expended for maintenance and ...

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‘FG’s expected decision on fuel price, electricity tariff’ll decide recession exit’

imf visit

Though there has been pockets of pronouncements that Nigeria is on way out of recession, there are, however, indications that the much anticipated recovery may be hindered by a combination government’s decision on fuel price and electricity tariff amongst other factors. Already, analysts at FSDH Merchant Bank had expressed this fear in their monthly economic and financial market outlook for ...

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How far can NNPC go in being sole importer of petroleum products?

NNPC tankers

Considering what they described as being shut out of business by non recalibration of pricing templates, most oil marketers have stopped fuel importation. Other reasons adduced for their action include shortage of foreign exchange and increase in crude prices, which they claim have made it unprofitable to import petrol and sell at N145 per litre. Business Hilights recalls that almost ...

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3 refineries now produce over 12m litres of PMS, AGO daily—NNPC boss, Baru

Recently concluded repairs and maintenance at the hitherto moribund refineries in Warri, Port Harcourt and Kaduna have started yielding results. The trio now about 12 million litres of Premium Motor Spirit, otherwise known as petrol, and Automotive Gas Oil, popularly referred to as diesel, on a daily basis, thus drastically reducing pressure on forex for imports. This was made public ...

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NNPC opens up on power investment, partners Chevron, Total for two power plants

NNPC MD

The managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru revealed that the corporation is set to expand its interest in power generation. This is coming days after the NNPC gave signals of divesting much of its communications installations to the growth of broadband penetration in the country. Giving more insights yesterday at the ongoing Offshore Technology Conference ...

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