Tag Archives: NNPC

The Nigerian National Petroleum Corporation said it had secured a total of $3.7 billion in alternative financing agreements in the last three years. The Group Managing Director, NNPC, Maikanti Baru, said securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of the country’s energy future. He was quoted in a statement …

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Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the final phase of an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. The agreement, signed in London, is also expected to achieve an incremental peak production of about 283mmscfd of gas, NNPC Group Managing Director, Dr Maikanti Baru, made the disclosure in …

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Following the flag-off of oil search on the Nasarawa  State end of the Benue Trough last week, the Nigerian National Petroleum Corporation (NNPC) has commenced move to mobilize for oil exploration in the Benue State sector of the Benue Trough. The Group Managing Director of NNPC, Dr. Maikanti Kacalla Baru, who led a high-powered delegation from the Corporation to the …

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…As GMD Bags NiMechE Fellowship The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Kacalla Baru, has charged engineering practitioners in the country to provide viable solutions towards fast-tracking Nigeria’s quest to diversify the economy. Dr. Baru gave the charge while speaking at the 30th Conference & Annual General Meeting of the Nigerian Institution of Mechanical Engineers (NiMechE), …

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Oando PLC, Nigeria’s largest indigenous Oil & Gas Company has finally reacted strongly to the Securities & Exchange Commission’s (SEC’s) alleged findings following an investigation into the company which began in May of this year, following a petition filed by Ansbury Inc. and Alhaji Dahiru Mangal. SEC on Wednesday, 18 October 2017 had published a statement on its website detailing …

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Seplat Petroleum Development Company Plc (Seplat) has announced N1.62 billion loss in third quarter ended September 30, 2017 from N24 billion loss reported in third quarter ended September 30, 2016. Nigerian independent oil and Gas Company listed on both the Nigerian Stock Exchange and London Stock Exchange reported 70 per cent increase in revenue to N85.19 billion in third quarter …

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The Nigerian National Petroleum Corporation (NNPC) has a stock of over two billion litres of Premium Motor Spirit (PMS), also known as petrol, to ensure a hitch-free end-of-year movement of motorists, a period hitherto sometimes characterized by supply and demand disequilibrium. Speaking at the weekend after his investiture as Honourary Special Marshal by the Federal Road Safety Corps (FRSC), the …

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…Claims revenue-generating agencies under-remitted N1.7trn in 4yrs  …NNPC operated N3.1trn deficit Shocking revelations emerged at the Senate, yesterday, that almost all  various federal revenue-generating agencies have short-changed the Federal Government to the tune of N1.7 trillion, through under-remittance of revenues generated between 2012 and 2016. It was also discovered that the Nigerian National Petroleum Corporation ( NNPC), ran at a …

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‘GMD’s response full of  distortions’ David-West: minister’s claims wild Loyalists find gaps in NNPC’s position The crisis of confidence in the oil sector raged on yesterday, with some associates of the Minister of State, Dr. Ibe Kachikwu, taking on the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru. Kachikwu wrote to President Muhammadu Buhari, alleging …

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While the nation awaits the outcome of Friday’s meeting between President Muhammadu Buhari and Minister of State for Petroleum, Dr. Ibe Kachikwu on one hand and Vice President Yemi Osinbajo and Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) over allegations of $26bn contracts awarded by the nation’s oil behemoth, Nigeria’s civic tech organisation, raising the …

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