Tag Archives: Nigeria National Petroleum Corporation (NNPC)

The $12 billion Trans-Saharan Gas Pipeline Project (TSGP), expected to help Nigeria achieve zero gas flaring by 2020, remains an illusion, 17 years after it was conceived. The project should have been completed this year. Nigeria signed a treaty with Niger and Algeria in 2009 to build the pipeline, which should begin from Calabar and pass through Kano to the ...

The Nigeria Extractive Industries Transparency Initiative (NEITI), the agency tasked with cleaning up Nigeria’s murky oil industry, has said even though financial accountability has improved, the Nigerian National Petroleum Corporation (NNPC) still has not explained billions of dollars of missing revenue. While energy producers have co-operated and complied with requirements to publish payments, NEITI has struggled with the state-owned oil ...

An analysis of the December 2017 edition of the monthly operations and financial reports of the Nigerian National Petroleum Corporation (NNPC) has revealed that Products and Pipelines Marketing Company (PPMC) exceeded the projected loss in its year-to-date (YTD) operations by about 240.1 per cent. THISDAY analysis of the latest NNPC report showed that while PPMC, the downstream petroleum subsidiary of ...

The House of Representatives has again queried the N24bn which the Nigerian National Petroleum Corporation claim it incurs monthly on payment of subsidy on imported Premium Motor Spirit popularly known as petrol. The lower chamber described the expenditure as “an act of illegality” as the funds are allegedly paid without appropriation by the National Assembly. The landing cost of a ...

Nigeria is currently losing N868 million daily, as the Nigerian National Petroleum Corporation (NNPC) disclosed that oil and gas firms operating in the country are currently flaring 700 million standard cubic feet of gas per day. Speaking at the 2018 Oloibiri Lecture Series and Energy Forum (OLEF) organised by the Society of Petroleum Engineers (SPE) Group Managing Director of the ...

Few days after the Nigerian National Petroleum Corporation (NNPC) turned down human rights lawyer, Femi Falana’s freedom of information request on how much the government was spending on subsidy, the corporation has revealed that it was subsidising the supply of petrol to the tune of N774 million every day. According to the NNPC, the benefit of the subsidy is being enjoyed by only ...

Nigeria is the only member country in the Organisation of Petroleum Exporting Countries (OPEC) that imports petrol and is currently the largest importer of Premium Motor Spirit (PMS) in the world. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, said in Abuja, on Thursday. Baru, who spoke through NNPC’s Chief Operating Officer (COO), Upstream, Bello ...

Barely two weeks after the release of some lecturers prospecting for oil at the Chad Basin, the Nigeria National Petroleum Corporation (NNPC) has concluded arrangement to commence exploration activities at the basin, Group Managing Director of NNPC,  Maikanti Kacalla Baru, has said. Oil exploration activities at the Chad Basin were suspended for months due to the abduction of the three ...

Charles Oputa, a.k.a Charlyboy, on Wednesday, led the `Ourmumudondo’ group, on a peaceful protest to the headquarters of the Nigerian National Petroleum Corporation (NNPC) over lingering fuel scarcity across the country. ‘Ourmumudondo’ is a non-political coalition of Nigerians from all backgrounds that advocates national reawakening towards holding leaders responsible and ensuring good governance at all levels. The News Agency of ...

Operatives of the Nigeria National Petroleum Corporation (NNPC) surveillance team on petroleum products monitoring, set up by the Inspector-General of Police, Ibraheem Idris, have intercepted a truck loaded with 40,000 litres of PMS. The Head, Downstream of the Department of Petroleum Resources (DPR), Kaduna zone, Yahaya Maishera, told reporters that the surveillance team intercepted the truck on the Funtua-Gusau road ...