Tag Archives: NNPC

Recently, Mrs. Patience Maseli retired from the Directorate of Petroleum Resources (DPR) as a Deputy Director after 35 years of meritorious service. The first child and daughter of Mr. and Mrs. Matthew Akpokene, Maseli holds a Bachelor of Science degree in Botany from the University of Benin and a Master of Science degree in Petroleum Geology from the University of Port …

Read More »

The Nigerian National Petroleum Corporation and its subsidiary, Nigerian Petroleum Development Company, and other companies in the oil and gas sector have yet to remit a total revenue of $22.06bn and N481.75bn to the Federation Account. Latest report on the summary of unremitted revenue, losses and unreconciled differences from operations and transactions in the oil and gas sector released in …

Read More »

The Nigerian National Petroleum Corporation on Wednesday denied being in possession of the $3.5bn Subsidy Fund. The details of the Subsidy Fund had caused a row on the floor of the Senate on Tuesday. The  Senate initiated a fresh investigation into the alleged illegal subsidy payment on Premium Motor Spirit (petrol). In reaction, NNPC issued a statement on Wednesday, denying “the …

Read More »

The Nigerian National Petroleum Corporation (NNPC), has recorded trading surplus of N17.16 billion in April, 2018. NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, who made this known in a statement, on Thursday September 20, 2018, said the development was part of the highlight of the Corporation’s Monthly Financial and Operations Report for the review period. The report, …

Read More »

Nigerian National Petroleum Corporation says it will establish two condensate refineries with a total refining capacity of 200,000 barrels per day. The corporation disclosed this in a statement signed by its spokesman, Mr Ndu Ughamadu, in Abuja on Tuesday. Ughamadu said the refineries would be located at the Western Forcados Area and Assah North Ohaji South ANOH) Areas of Delta …

Read More »

The Nigerian National Petroleum Corporation has announced plans to establish a 100,000-barrels-per-day brownfield refinery each in Port Harcourt, Rivers State and in Warri, Delta State. It said the plan was part of its refinery collocation initiative designed to boost local refining capacity to end the era of petroleum products importation, adding that a group of investors had commenced the process …

Read More »

The Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020. The project, Assa North and Ohaji South (ANOH) gas development scheme, is one of the seven Critical Gas Development Projects (7CGDP) which …

Read More »

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has challenged the Nigeria LNG Limited to expand its Liquefied Natural Gas production capacity to 40 million tonnes per annum over the next 30 years. He said this would enable the country to secure a significant share in the global LNG market, and help with domestic supply of the commodity …

Read More »

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has urged the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), as an independent arbiter, to ensure recovery of revenues borne by the corporation on behalf of the Federal Government. Baru, who spoke yesterday during a courtesy visit by the Acting Chairman of RMAFC, Shettima Abba-Gana, to the …

Read More »

A major stride in the attainment of national energy sufficiency was achieved in Lagos on Monday with the commencement of technical framing workshop and subsequent project signing ceremony of the seven Critical Gas Development Projects (7CGDP) to deliver about 3.4 billion standard cubic feet of gas per day (bscfd) to bridge the foreseen medium term supply gap by 2020 on …

Read More »