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  • Buhari-signing-2016-budget
    Massive upset in oil sector – FG to scrap NNPC, DPR, PPPRA, others

    – Petroleum regulatory bodies in Nigeria are expected to be scrapped by the petroleum ministry – The bodies will be consolidated into a single agency – The minister of petroleum is expected to be in charge of the new body and monitor policies There is an air of upset in the oil sector following the

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  • kachukwu
    No plans to increase petrol price to N150 –NNPC

     …Kachikwu faults move By Uche Usim and Adewale Sanyaolu Two weeks after it denied similar moves, the Nigerian National Petroleum Corporation (NNPC) yesterday, said there are no plans to increase the pump price of petrol from N145 to N150 because the corporation is not empowered statutorily to tinker with the pricing template of petroleum products.

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  • NNPC
    NNPC to produce diesel from crops

    The Nigerian National Petroleum Corporation on Wednesday announced that it had commenced the integration of biofuels production from selected energy crops through its agriculture development programme. It stated that it had started mobilising to site on a first large-scale commercial biofuels venture in Nigeria, adding that it would plant an energy crop known as Jatropha

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  • nnpc
    RECESSION: Nigeria’s oil, gas reserves running out, NNPC warns

    ABUJA—The Nigerian National Petroleum Corporation, NNPC, yesterday, painted a gloomy outlook for Nigeria’s economic fortunes, as it disclosed that the country’s crude oil and gas reserves were fast depleting. The NNPC in a statement in Abuja, therefore, begged oil and gas exploration companies, professionals and other stakeholders to focus on increasing the nation’s oil and

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  • NNPC
    Nigeria lost N61trn to non-passage of PIB – NEITI

    THE Nigerian Extractive Industries Transparency Initiative, yesterday, called on President Muhammadu Buhari to take urgent steps to halt the unending delay in the passage of the Petroleum Industry Bill, PIB, stating that the country has lost $200 billion, about N61.1 trillion, using current official exchange rate, due to the failure to pass an enabling law

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  • fuel scarcity
    Fuel At N145/litre No Longer Sustainable – NNPC

    Former and present Group Managing Directors of the Nigerian National Petroleum Corporation have expressed fears that the current pump price of N145 per litre is no longer feasible.Close Fuel at N145/litre no longer sustainable – NNPC John Ameh, Fidelis Soriwei, Friday Olokor, Adelani Adepegba and Okechukwu Nnodim Former and present Group Managing Directors of the

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  • EFCC1
    Just In: Ex-NNPC boss, Andrew Yakubu, Jide Omokore arrested by EFCC

    Former Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu has been arrested by the Economic and Financial Crimes Commission (EFCC) alongside Jide Omokore, an oil magnate. Yakubu was arrested by the anti-graft agency Monday morning, following allegations of money laundering and corruption. Jide Omokore is a close business associate of former minister

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  • Crude oil
    Lagos joins oil-producing states as Aje field begins production

    Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the list of oil-producing states in the country. The milestone is coming after several missed targets for the achievement of first oil, the latest being March this year. Yinka Folawiyo Petroleum Company

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  • NNPC
    Nigeria needs $700 million to upgrade refineries – Kachikwu

    The Minister of State for Petroleum, Ibe Kachikwu, said on Saturday that the Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities. Mr. Kachikwu, who is also the Group Managing Director of NNPC, disclosed this while speaking with journalists during the re-inauguration of the Port Harcourt/Bonny Crude Supply Line

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  • osinbajo
    Pipeline security force to end vandalism underway

    The Federal Government is considering the creation of “a permanent pipeline security force” to protect sensitive pipelines across the country. Vice President Yemi Osinbajo said if established, such a force “would be armed with sophisticated weapons to ensure we contain the vandalism, and overhaul security.” Osinbajo called for an expedited repair of the Forcados Terminal

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