Tag Archives: NNPC

The Nigerian National Petroleum Corporation (NNPC) will generate about 4, 000 megawatts (Mw) of electricity over the next 10 years to boost power supply in the country. Its Corporation’s Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, who spoke at the 2017 retreat of the Autonomous Business Unit (ABU), Gas and Power, in Kaduna, said this would be …

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Oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC said on Tuesday, without giving an explanation for the increase. “We are hoping that by the end of 2017 we should ramp up production to above 2.2 million barrels (per day),” Maikanti Baru told an oil conference in Abuja. According to Reuters, …

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The Nigerian National Petroleum Corporation (NNPC) ended the 2016 fiscal year with a trading loss of N197 billion, its monthly operations and financial report for the month of December 2016 has disclosed. According to the report, which was released by the corporation yesterday in Abuja, the NNPC ended all but one of its monthly trading activities in deficits. The only …

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Fuel scarcity looms over FG’s oil marketers $1.7bn Nigerians maybe thrown into another round of hardship, as the country may soon witnessed excruciating fuel scarcity in the next couple of weeks, owning to disclosure by oil marketers that they are running out of patience over the Federal Government’s refusal to pay its $1.7 billion debt owed them since May 2015. …

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Forte Oil Plc Raises N9bn 5-year Fixed Rate Bond Forte Oil Plc, one of the leading indigenous energy service provider, has successfully raised N9billion bond under its N50billion bond issuance programme. The funds raised will be used to refinance existing short term commercial bank loan obligations and to finance the retail outlet expansion of the company. The company has an …

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Nigeria records increased oil output ahead OPEC production cut talks OPEC has said that its 14 members pumped 33.64 million barrels a day (mb/d) in October, 236,000 barrels more than in September. According to AFP, this was contained in the organisation’s November monthly report. The organisation of the Petroleum Exporting Countries agreed in September in Algiers to trim production but …

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  Oando Eyes Profitability; Posts Increased Revenue of N330bn Oando Plc, Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced unaudited results for the nine months period ended 30 September, 2016. The company’s turnover increased by 26 per cent to N330 billion, compared to N262 billion in YTD September 2015, while Gross Profit decreased …

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Former Speaker Seeks listing of big corporations on NSE The former Speaker of the Federal House of Representatives, Honourable Dimeji Bankole has joined the league of eminent Nigerians that are calling for the listing of big corporations operating in Nigeria on the floor of the Nigerian Stock Exchange (NSE). He made the call at the Gala Night for the 20th …

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A cross section of shareholders at Conoil Annual General Meeting held in Uyo, Akwa Ibom State on Friday…Pix    

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President Muhummadu Buhari President Muhummadu Buhari has unveiled Seven Big Wins, as part of short to medium term strategy framework with robust priorities to grow Nigeria’s oil and gas sector. The seven big wins to revamp and revive the sector will focus on key areas including Niger Delta development and security of the oil producing region; policy and regulation; business environment …

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