NNPC records $120.49m crude oil receipt in September

Doosuur Iwambe,Abuja The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020. A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated that the figure is contained in the…

NNPC to focus on gas, condensates for revenue growth

TUNDE SHORUNKE Due to the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilising the global oil market, Nigerian National Petroleum Corporation (NNPC) has said it is focusing more on the gas, condensate and other revenue streams to tackle revenue challenges. The Corporation, therefore, reiterated its…

Nigeria’s obsession with owning refineries is counter-productive

The Nigerian government’s obsession with owning and running refineries is costing the country an average of N10 billion monthly, without producing any petroleum products despite several so-called Turn-Around-Maintenance (TAM) activities announced in the past. For the umpteenth time, Africa’s biggest oil producer is attempting again in 2021 to get its refineries working, with the objective…

NNPC seeks $1bn in oil prepaid deal to revamp refinery

The Nigerian National Petroleum Corporation (NNPC) has commenced talks with trading firms to raise at least $1billion in a prepayment deal to refurbish its largest refining complex at Port Harcourt. Reuters reported that if the financing is concluded, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. The development will…

FG urgently needs to set new objectives for the NNPC

If Nigeria must survive a looming existential threat in a world buffeted by the impact of the coronavirus pandemic and unstable oil prices, it must mandate its national oil company, the Nigerian National Petroleum Corporation (NNPC) to move beyond maximising fiscal revenues to aggressively investing in energy transition. Since this government will not treat suggestions…

NNPC opens bid for 2021 Crude Oil Contracts

The Nigerian National Petroleum Corporation (NNPC) has on Monday announced the opening of invite to interested local and international companies to submit bids for crude oil contracts for the year 2021. The request for bids to lift Nigerian crude and condensates was published yesterday and will be valid for one year. Interested companies are to……

NNPC boss defends withdrawal of $21bn NLNG funds

The Group Managing Director of the National Petroleum Corporation (NNPC), Mele Kyari on Thursday said the withdrawal of over $21billion from the Nigeria Liquefied Natural Gas (NLNG) dividends account was legally done. Kyari stated this at an investigative hearing of the House Committee on Public Accounts Committee chaired by Wole Oke (PDP, Osun). The Group…