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NNPC inaugurates committees to revamp refineries

The Nigerian National Petroleum Corporation (NNPC) has inaugurated eight committees charged with the responsibility of rehabilitating the nation’s refineries. The committee is to help return Nigeria’s three refineries back to their “optimal levels of performance,” according to a statement issued on Wednesday by Ndu Ughamadu, NNPC spokesman. In the statement, Maikanti Baru, group managing director […]

Global safety body lauds NNPC boss on safety standards

In its determination to ensure that the current steady supply of petroleum products nationwide is sustained, the Nigerian National Petroleum Corporation (NNPC) has intensified efforts to safeguard its pipeline from vandals and fire outbreaks in line with best safety practices. The Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed this while receiving a […]

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Major shake-Up: NNPC Redeploys 55 Management Staff

The Nigerian National Petroleum Corporation (NNPC), has carried out a major shakeup of top executives across the value chain of its operations. Ndu Ughamadu,Group General Manager, Public Affairs Division, announced the shakeup in a statement on Tuesday. According to the statement, the appointments and deployments has given the Oil giant a fresh impetus. Complete text […]

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98 Percent of documents in crude sale transactions fake — NNPC

The Nigerian National Petroleum Corporation on Sunday announced that about 98 per cent of all documents involved in the sale of crude oil were fake. It cautioned unsuspecting would-be crude oil buyers to be mindful of the activities of local and international fraudsters in the oil and gas sector. Proving insights into the modus operandi […]

NNPC raises alarm on international oil fraudsters

The Nigerian National Petroleum Corporation (NNPC) has alerted the public of the activities of con men who specialize in circulating phantom letters of crude oil allocation with the intent of defrauding unsuspecting would-be buyers. Group Managing Director of the Corporation, Dr. Maikanti Baru raised the alarm during the presentation of commendation letters to 12 staff […]

NNPC saves $3b yearly from production cost cut

The Nigerian National Petroleum Corporation (NNPC) yesterday announced that it has saved the nation a minimum of $3billion yearly from the reduction in the cost of crude oil production. According to the corporation’s statement, it has driven down the cost of crude oil production from $78 per barrel as at August 2015 to $23 per […]

Living on the pipelines: How oil vandals make Nigerian economy bleed

Nigeria lost over N51.28bn worth of oil to activities of petroleum pipeline vandals in 2015, the Nigerian National Petroleum Corporation (NNPC) has said. Oil, the mainstay of Africa’s largest economy has been the bone of contention between the government and the Niger Delta militants. The contention is responsible for the loss of national revenue, which […]

Nigerians now to buy diesel for N175 – NNPC

The Nigerian National Petroleum Corporation (NNPC) says it has successfully reduced the price of Automotive Gas Oil (AGO), also known as Diesel, by 42% nationwide. NNPC made this known in a statement, released on Sunday, and signed by the Group General Manager, Group Public Affairs division of the corporation, Ndu Ughamadu. NNPC said the reduction […]

NNPC posts N34bn Q1 loss as crude production slumps

The group financial performance of the Nigerian National Petroleum Corporation recorded its third consecutive monthly loss in March as the oil firm reported a loss of N33.996bn in the first quarter of this year. According to the latest monthly financial and operations report for March 2017, the NNPC stated that crude oil production also decreased […]

It’s shameful Nigeria imports finished petroleum products – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Tuesday said it was shameful that the country had continued to import finished petroleum products. According to him, the country has to stop importing the products, adding that the Federal Ministry of Petroleum Resources was committed to making this happen. The minister disclosed this in […]