The ongoing restructuring of the Nigerian National Petroleum Corporation, NNPC received fresh impetus on Tuesday with the appointments and deployments of top executives across the value chain of its operations. Group Managing Director of the Corporation, Dr. Maikanti Baru, told NNPC staff shortly before the announcement was made public that the new appointments would not […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has raised the red flag on the activities of con men who specialize in circulating phantom letters of crude oil allocation with the intent of defrauding unsuspecting would-be buyers or members of the public. Speaking at the presentation of commendation letters to 12 staff of the Crude Oil Marketing […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel representing 70.5 per cent reduction. The Group General Manager of National Petroleum Investment Management Services (NAPIMS), a unit of NNPC, Engr. Dafe Sejebor, who disclosed this during […]
Continue Reading
At least 69 people are known to have died in a Boko Haram ambush of an oil exploration team in northeast Nigeria, as three men kidnapped by the jihadists made a video appeal. Experts said the attack — Boko Haram’s bloodiest this year — underscored the persistent threat it poses, despite government claims the group […]
Continue Reading
The Federal Government will flag-off the first set of modular refineries domiciled mostly in the Delta region, next month, the presidency has said. Presidential media aide, Laolu Akande, made the disclosure when he briefed, alongside the presidential spokesmen, Femi Adesina and Garba Shehu. He added that the Acting President, Yemi Osinbajo, will hold a ground breaking […]
Continue Reading
The Central Bank of Nigeria (CBN) has assured Nigerians that the current recession they are facing would end before the end of the year, even as it blamed overdependence on importation for the problem. CBN governor, Mr. Godwin Emefiele, at the weekend while delivering a lecture entitled: “The Dilemma of Monetary Policy and Exchange Rate […]
Continue Reading
The Federal Government received a total payment of 539.578 million Yuan, about $81.329 million, from a Chinese oil firm, the China National Offshore Oil Corporation, CNOOC, in 2016, for two petroleum assets, Oil Mining Leases, OML, 130 and 138. The payments which translated to about N29.278 billion, were for taxes, royalties and fees for the […]
Continue Reading
Suspected oil rebels attacked a gas pipeline in Nigeria’s restive south, breaking a fragile truce between them and the government, an oil company spokesman told AFP Tuesday but the Gbaramatu Traditional Council stated that the Nigerian Gas Company, NGC pipeline may have ruptured due to equipment failures The attack on a pipeline operated by the […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has announced that it will resume the search of crude oil in the Lake Chad Basin of Borno state. Group Managing Director of NNPC, Dr Maikanti Baru, made the promise when he visited Gov. Kashim Shettima at the Government House in Maiduguri on Monday. Represented by the NNPC Chief […]
Continue Reading
The British Government, will release information about Nigerians, who own property in that country next year. Prof. Bolaji Owosanoye, Executive Secretary, Presidential Advisory Committee against Corruption, told News Agency of Nigeria (NAN) in New York that negotiations on this had reached advanced stage. Owosanoye said the measure being taken by the governments of both countries […]
Continue Reading
