The Nigerian National Petroleum Corporation incurred a total loss of N120.07bn in the months of August and September, the latest NNPC Group financial report has shown. According to the report, the corporation incurred losses of N60.67bn and N59.4bn in August and September, respectively. It specifically stated that the national oil firm’s revenue in August was […]
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NIGERIA President, Muhammadu Buhari surely meant well for the Nigerian people. His integrity, discipline and avowed commitment to fight, name and shame corruption had never been in doubt since Nigerians have high hopes in his administration to ‘fight corruption among the elites’, in a bid to free Nigeria’s economy from Kleptomaniac. As it is a […]
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The immediate past Minister of Petroleum Resources, Diezani Alison-Madueke, was on Friday arrested in London. According to PREMIUM Times the former minister, who was one of the most powerful officials of the President Goodluck Jonathan administration, was arrested Friday morning by the UK National Crimes Agency, alongside four other people. The identities of the four […]
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The use of kerosene stoves for cooking is soon to become a thing of the past in Nigeria as the Nigerian National Petroleum Commission as revealed its plan to phase out kerosene as domestic cooking fuel in Nigeria. The disclosure was made at the weekend by the Managing Director of the Nigerian National Petroleum Corporation, […]
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The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has issued 90-day ultimatum to the management of Warri Refining and Petrochemicals Company to commence full production at the facility. The refinery has the capacity to process 125,000 barrels of crude oil per day. Speaking at the end of a facility tour […]
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A former Minister of State for Finance, Remi Babalola, on Tuesday proposed the expansion of the whistle blowing and fraud protocols by the Economic and Financial Crimes Commission, EFCC, to include payment of 10 percent of the total value of undeclared assets by public officials to whistle-blowers/informants, if successfully prosecuted. Mr. Babalola said public asset […]
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In what appears a radical attempt to tackle crude oil theft and pipeline vandalism, the Nigerian National Petroleum Corporation, NNPC, has served notice that drones would be deployed for monitoring. The Corporation also plans to split the Pipeline and Products Monitoring Company, PPMC into two companies, with one solely in charge of pipelines while the […]
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Nigeria’s oil and gas sector accounts for about 80 per cent of the total corruption-related issues across the country, the Independent Petroleum Marketers Association of Nigeria has said. According to IPMAN, although some cases of corruption may not be seen as involving the oil sector at the surface level, in-depth analysis of most of such […]
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The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has hailed the Federal Government for approving a $10 million take-off grant for the implementation of the United Nations Environmental Programme (UNEP) Assessment on Ogoniland and reconstituting the Governing Council of the Hydrocarbon Pollution Restoration Project (HYPREP), saying both moves indicated the current administration is on […]
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Stakeholders in the oil and gas sector on Monday lauded Federal Government’s initiative in appointing a private sector-based knowledge to drive the Nigerian National Petroleum Corporation (NNPC) operations. Some of them made the commendation in separate interviews in Lagos. President Muhammadu Buhari on Tuesday appointed Dr Emmanuel Ibe Kachikwu, the Executive Vice Chairman of ExxonMobil […]
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