4 leak points on Trans Ramos Pipeline responsible for shut-in—Shell
More facts have emerged on why Trans Ramos Pipeline in the swamps of Western Niger Delta has remained shut, leading to the loss of well over 100,000 barrels of crude oil per day (bpd) which amounts to revenue loss of…
FG not serious in ending classification of Nigerian ports as a high risk zone—Omatseye
Former Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Temisan Omatseye, has revealed that happenstances at Nigerian seaports upon all the crusade on ease of doing business show that cost of doing business is still rising. Speaking…
NNPC set to redeem N2.1bn owed NPA before end of this week
All debts owed the Nigerian Ports Authority (NPA) by the Nigerian National Petroleum Corporation (NNPC) between 2017 to date, amounting to about 2.1 Billion Naira for services rendered to the Corporation are to be settled this week. This is coming…
How FG failed in its promise to unbundle NNPC, institute periodic balance sheet display
The sustained deficit financial results so far recorded by the Nigerian National Petroleum Corporation (NNPC) in the last three year may continue unabated if strategic reforms or signing into law the recently passed Petroleum Industry Governance Bill (PIGB) in law….
Nigeria currently running short fall of 278,000 bpd from the 2.3mbpd budget benchmark
Even though the recent sharp hike in crude oil prices due to provocations on Iran and developments surrounding US oil industry means rising earnings for Nigeria, the production benchmark as captured by the 2018 budget is yet to be met….
Shocks as NNPC issues 2-year crude lifting contracts to traders rather than usual one
Though the Nigerian National Petroleum Corporation (NNPC) is yet to make it public, indications have emerged that it has issued crude export contracts that are expected to last two years instead of the usual one year. An initial preliminary list,…
Buahri appoints top NNPC official, Kyari Nigeria’s representative at OPEC
The Nigerian National Petroleum Corporation (NNPC) has announced the appointment of Group General Manager in the Crude Oil Marketing Division, Mallam Mele Kyari as Nigeria’s National representative at the Organization of the Petroleum Exporting Countries (OPEC). Details sourced from the…
NNPC’s gas supply to power plants rise to 89% in 16 months, as vandalism remains high
Newly released January Financial and Operational Report of the Nigerian National Petroleum Corporation (NNPC) has shown that whereas the Corporation recorded surge to 88.89 per cent in gas supplies to electricity generation firms between January 2017 and date, it also…
NNPC now controls 14% of retail market, plans massive rollout of mega-stations
Having observed that the current control of only 14 per cent of the nation’s petroleum products retail outlets is not enough, the Nigerian National Petroleum Corporation (NNPC), has indicated readiness to deepen the visibility of its downstream subsidiary, the NNPC…
Confusion as NNPC boss contradicts self on revival of 4 refineries at OTC, Houston
Experts in procurements and management consultancy have raised issues with the doublespeak of the managing director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru on how the refineries will be up again at the ongoing 50th Offshore Technology Conference,…
