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….
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,…
Using contractor-financing model, NNPC set to name refineries’ renewal bid winners
The Nigerian National Petroleum Corporation (NNPC) has given fresh indications that strong arrangements are in top gear to meet the national target of ending fuel import come 2019. Speaking as a special guest of honour at the Offshore Technology Conference…
NPDC to become Nigeria’s leading daily oil producer, builds 330,000mtpd gas plant
One of the subsidiaries of Nigerian National Petroleum Corporation (NNPC), the Nigerian Petroleum Development Company (NPDC), is set to deepen daily production of crude oil to half a million barrels to assume the plum position of the country’s leading producer….
Nigeria spends about $15bn on fuel import yearly when new refinery costs less
More ironies in the way and manner on which the nation runs its oil industry have emerged. Whereas the country is spending about $15billion yearly on fuel importation, industry experts have argued that a brand new refinery with higher output…
Subsidy still alive as NNPC spends N774m daily on petrol
Contrary to prevailing speculations and official confusion that Nigeria had at the beginning of this administration said goodbye to Petroleum Subsidy regime, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru on Sunday, rested the…
NNPC’s reward to stations’ selling Petrol N145 height of defeatist strategy—Expert
The recent face-saving reward plan by the Nigerian National Petroleum Corporation (NNPC) for Petrol stations selling fuel at the approved pump price of N145 per litre, has been described as the height of defeatist strategy at a time realities on…
FG earns $177.5m daily, 112.5m for FAC, 65m for ECA since oil rose to $71
As Nigeria’s oil production hits 2.5mb/d, it means that crude production now stands 1.8 million barrel per day without condensate, and 2.5million per day with condensate. This was the revelation of the Group Managing Director of Nigerian National Petroleum Corporation…
NNPC changes plan, engages original builders to revamp 4 refineries
An indication that the Nigerian National Petroleum Corporation (NNPC) may have dumped its earlier gigantic, but well criticized plot to bleed away about $1,8bn in the Turnaround maintenance (TAM) of the four national refineries has emerged. Currently, the Corporation has…
