Tag Archives: NNPC

Nigerian Oil Major Focuses On Condensates To Offset OPEC Cuts

The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ production cut deal. Nigerian daily This Day quoted the managing director of the NNPC as laying out this plan, and noting a boost …

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NNPC Focusing on Third Party Financing For Oil Projects– Official

The Nigerian National Petroleum Corporation on Tuesday said it was currently focusing on third party financing of oil and gas development projects. Group Managing Director, NNPC, Mele Kyari, said this while playing host to the Chairman, Revenue Mobilisation Allocation and Fiscal Commission, Elias Mbam. Kyari told his guest that there …

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NNPC Announces N153.17 Ex-depot Price for Petrol

The Nigerian National Petroleum Corporation (NNPC) has announced N153.17 ex-depot price for petrol for the month of November. The corporation announced this in a statement signed by its spokesperson, Kennie Obateru, in Abuja on Friday.The ex-depot price is the amount at which the depot owners sell the commodity to retail …

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NNPC Denies Inflating AKK Contract

The Nigerian National Petroleum Corporation (NNPC) has dismissed, in its entirety, the allegation that the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project was inflated to the tune of $1.527billion, describing the accusation by an online medium against the National Oil Company as false, baseless and unfounded. A release today in Abuja by …

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NNPC, EITI Partner To Strengthen Commodity Trading Transparency

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, says the corporation has become an Extractive Industries Transparency Initiative (EITI) supporting company. Kyari announced this on his twitter account @MKKYARI on Tuesday. “With this development, the corporation has joined a group of over 65 extractive companies, …

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PPMC Sets Petrol Ex-depot Price at N138.62

The downstream subsidiary of Nigerian National Petroleum Corporation (NNPC), Petroleum Products Marketing Company (PPMC), has fixed the ex-depot price of premium motor spirit (PMS), known as petrol at N138.62 per litre. PPMC disclosed this in a memo signed by its Manager, Sales, Mohammed Bello, in Abuja, on Tuesday. The ex-depot …

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NNPC Gives Conditions for Relocation of Tank Farms, Depots

The Nigerian National Petroleum Corporation (NNPC) has advised against a swift relocation of tank farms from their current locations along Ijegun, Kirikiri areas in Lagos and other parts of the country in order to avoid a dislocation in the supply and distribution chain of petroleum products across the country. The …

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NNPC Records 19% Gas to Power Supply Increase in April

The Nigerian National Petroleum Corporation (NNPC) Thursday in Abuja announced an increase of 19.14 per cent in the average daily natural gas supply to power plants which translates to 788millon standard cubic feet of gas per day (mmscfd), equivalent to power generation of 2,873MW. The NNPC, in a release by …

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Andrew Yakubu Insists, $9.7m, £74,000 were Gifts from Friends

ANDREW Yakubu, a former Group Managing Director (GMD) of the National Petroleum Corporation (NNPC) on Wednesday told a Federal High Court that $9.7 million and £74, 000 found in his house in Kaduna were gifts he received from friends during occasions such as birthdays and thanksgiving services and others. Accorditing …

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