The IMF Country Chief, Amine Mati, who spoke last Thursday (November 8, in Abuja, at the presentation of the Regional Outlook for Sub-Saharan Africa, 2018), was clearly concerned that, despite Nigeria’s very precarious 1.9 percent projected growth rate for 2018, and a debt to GDP ratio between 20-25 percent, Nigeria however, is unfortunately, already also […]
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Minister of State for Petroleum, Dr. Ibe Kachikwu, yesterday, said the much-awaited overhaul of the country’s refineries would become a reality next month, as plans have been concluded to complete necessary arrangement with financials. The minister, who reviewed efforts of the current administration in the oil and sector, noted that President Muhammadu Buhari and the […]
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Minister of State, Petroleum Resources, and Chairman of the Nigerian National Petroleum Corporation (NNPC) board, Dr. Ibe Kachikwu, has said the federal government has surmounted challenges in the Niger Delta region to reach full production capability of crude oil in the country. Kachikwu made this known while speaking at the Nigeria International Petroleum Summit […]
Continue ReadingThe Nigeria National Petroleum Corporation (NNPC) has confirmed the presence of adequate hydrocarbon in the Sokoto basin, urging governments of Sokoto, Kebbi, Zamfara and Katsina states to prepare to acquire oil blocks in the basin. Speaking at the regional technology knowledge sharing workshop on hydrocarbon potentials of the Sokoto basin, NNPC Group Managing Director, Dr. […]
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The Minister of State for Petroleum, Dr. Ibe Kachikwu has written President Muhammadu Buhari over alleged acts of illegalities and insubordination by the Group Managing Director of the NNPC, Dr. Maikanti Baru. Kachikwu urged Buhari to be proactive enough in order to salvage the sensitive petroleum sector. The letter reads in part: “Parastatals in the […]
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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 […]
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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 […]
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The group managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has thrown some light on the modular refineries the Federal Government is planning for the Niger Delta. Mr. Maikanti, at the 53rd International Conference and Exhibition of the Nigerian Mining and Geosciences Society (NMGS) in Abuja, said the government would organise the […]
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The Nigerian National Petroleum Corporation (NNPC) has disclosed that the country’s crude oil and gas reserves are fast declining. The Corporation, therefore, appealed to oil and gas exploration companies, professionals and other stakeholders to focus on increasing the nation’s oil and gas reserve base. The NNPC Group Managing Director, Mr Maikanti Baru, stated this in […]
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The 19 northern state governments have intensified their search for oil and gas in the region with the appointment of a British firm to carry out the exploration activities. This is coming about two weeks after President Muhammadu Buhari had directed the Nigerian National Petroleum Corporation to increase the tempo of the crude oil find […]
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