The Nigerian National Petroleum Company (NNPC) Limited has every reason to perform beyond expectation in 2022 as President Muhammadu Buhari on Friday inaugurated the Board of the newly incorporated NNPC. The inauguration which took place in Abuja was to ensure strict compliance with Corporate Governance principles that place premium...
oil and gas
The Nigerian National Petroleum Company (NNPC) Limited has ended the year on a bright note after it won an award as the overall best company in oil and gas reforms at the Open Government Partnership (OGP) global awards which was held in Seoul, South Korea. Nigeria picked the award...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly...
By JOY ADARA, Abuja – The Nigerian National Petroleum Company Limited (NNPC) has drawn the attention of the general public to a fake competition trending online which claims to celebrate its so-called “Anniversary Event”. A statement Issued on Monday by Garba Muhammad, Group General Manager, Group Public Affairs Division,...
The Nigerian Content Development and Monitoring Board (NCDMB) says 53 Nigerian companies have so far accessed loans under its Nigerian Content Intervention Fund (NCIF) scheme. Mr Obinna Ofili, General Manager, Nigerian Content Development Fund and Treasury Management, NCDMB, disclosed this at the 2021 Capacity Building Workshop for Media Stakeholders...
Introduction At the beginning of this month November 2021, President Buhari announced at that Nigeria has pledged to eliminate illegal gas flaring (which he said was Nigeria’s single greatest contribution to greenhouse emissions) by 2030. The President made the commitment at the UN Climate Change Conference Glasgow 2021 tagged...
The Organisation of the Petroleum Exporting Countries (OPEC) says crude oil spot prices dropped by $1.74, or 2.1 per cent, in November 2021 to average $80.37 per barrel. OPEC made this known in its Oil Market Report for December 2021 which was obtained by the News Agency of Nigeria...
Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by...
By JOY ADARA, Abuja- The Nigerian National Petroleum Company (NNPC) Limited has announced a huge leap in trading surplus of ₦141.96billion recorded in June 2021 compared to a deficit of ₦37.46Billion in May 2021. This is contained in the June 2021 figures of the NNPC Monthly Financial and Operations...
Managing Director, Shell Nigeria Gas & President Nigerian Gas Association , Ed Ubong has called for urgent strategy to grown Nigeria’s capacity in the gas sub-sector. This, according to him, would ensure that gas is used to spur industrial development across all parts of the country. “We need to begin...
The Minister of State for Petroleum, Chief Timipre Sylva, says the Federal Government is currently working to grow the country’s gas reserve from 206 trillion cubic feet to 600 TCF. Sylva gave the assurance on Wednesday at the 23rd World Petroleum Congress in Houston, Texas, U.S. The News Agency...
The Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has called for the development of strategies for sustainability of Nigerian content policies in the oil and gas sector. Mr Komolafe made the call on Tuesday at the ongoing 10th Practical Nigerian Content 2021 Conference in...
The Nigerian National Petroleum Company (NNPC) Limited started its activities for the week at the World Bank Nigeria Development Update in Abuja, with a fresh commitment to the ongoing reform in the oil and gas sector in Nigeria. The event which held at the Transcorp Hilton Hotel in Abuja...
Aiteo Eastern Exploration and Production Company (AEEPCO) has promised that the wellhead in the Santa Barbara South field in Nembe, Rivers State which blew up on November 5, would be secured in 48 hours. The firm in a statement on Friday said its officials were closely monitoring all activities...
Namibia is set to increase fuel prices by 70 Namibia cents (0.04 U.S. dollar) per liter from Dec. 1 due to a hike of global oil prices, the Ministry of Mines and Energy (MME) announced Friday. The price of gasoline at the pump in Walvis Bay will become 16.65...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has backed the Federal Government’s plan to remove subsidy on Premium Motor Spirit (PMS), also known as petrol by 2021. IPMAN’s President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) on Friday in Lagos that the Petroleum Industry Act...
The Nigeria National Petroleum Company Limited (NNPC), Gas Aggregation Company of Nigeria (GACN) and Nasarawa State Government have signed a Memorandum of Understanding (MoU) for the supply of gas to industries and investors in Nasarawa State. The MoU for the gas supply was signed on Thursday in Lafia at...
The Ijaw National Congress (INC) has berated Aiteo Eastern Exploration and Production Company over alleged poor response to the Nov. 5 spill from its oilfields in Nembe, Bayelsa. The group noted that it was wrong for Aiteo to attribute the wellhead leak within its oil bloc in the Nembe...
Aiteo Eastern Exploration and Production Company says it is seeking foreign technical expertise to halt the ongoing oil leak at an oilfield it operates in Nembe, Bayelsa. It was learnt that the oil leak occurred on November 5, 2021. Aiteo, in a statement issued by its spokesman, Mathew Ndianabasi,...
The Bayelsa Government has expressed worry over Aiteo Production Company’s failure to plug the leaks at its oil field in Nembe, two weeks after the incident was reported. The government’s reaction is contained in a statement issued on Friday by the Commissioner for Information, Orientation and Strategy, Mr Ayibaina...