Sunday, April 21, 2019

Tag "NNPC"

    ‘We have over 1bn litres of petrol’– NNPC debunks rumour of impending fuel scarcity

‘We have over 1bn litres of petrol’– NNPC debunks rumour of impending fuel scarcity

The Nigerian National Petroleum Corporation (NNPC) has urged Nigerians to disregard rumours of an impending scarcity of petrol in the country.  [...]

0 comment Read Full Article
    REVEALED: Why Chinese investors pulled out of NNPC’s greenfield refinery projects

REVEALED: Why Chinese investors pulled out of NNPC’s greenfield refinery projects

Mohammed Usman, head of the greenfield refineries division of the Nigerian National Petroleum Corporation (NNPC), says investor fatigue made Chinese companies pull out of agreements to build new refineries.Usman made this known during an interview published in the February edition of NNPC News, the monthly publication of the corporation.According to him, the federal government had terminated agreements previously held with [...]

0 comment Read Full Article
    Eterna: Why we’re expanding as oil majors sell downstream arm

Eterna: Why we’re expanding as oil majors sell downstream arm

Mahmud Tukur, managing director, Eterna Plc, says the company is expanding its downstream operations despite Nigeria's "challenging operating environment".Tukur was speaking during a press briefing to mark the company’s 30-year anniversary in Lagos on Tuesday.In the last three years, international oil companies (IOCs) and independent operators in Nigeria's oil industry have divested their assets either party or fully, but [...]

0 comment Read Full Article
    Navy nabs ‘godfather of oil thieves’ in Lagos

Navy nabs ‘godfather of oil thieves’ in Lagos

A joint military task force on oil theft and pipeline vandalism operated by the Nigerian navy has captured Shuaibu Ogunmola, the alleged leader of an oil theft racket. [...]

0 comment Read Full Article
    Atiku: NNPC is a mafia organisation… I’d privatise it even if they’d kill me

Atiku: NNPC is a mafia organisation… I’d privatise it even if they’d kill me

Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), has described the Nigerian National Petroleum Corporation (NNPC) as a “mafia organisation”, vowing to privatise it if elected.Speaking in Lagos during an interactive session with the business community on Wednesday, Atiku said he would take the step even if doing so would cost him his life.He explained that he sold [...]

0 comment Read Full Article
    Reinventing the false narrative about PPPFM and OMS

Reinventing the false narrative about PPPFM and OMS

On September 16, 2015, an online news platform published an exclusive report regarding the domestic transportation of crude oil contract of PPP Fluid Mechanics (PPPFM) and Ocean Marine Solutions (OMS) Limited with the Nigerian National Petroleum Corporation (NNPC). But in a swift riposte, the management of PPPFM attacked the report on the grounds that it contained, "largely in all material [...]

0 comment Read Full Article
    Kachikwu: We’ve generated over $2bn from oil block licences to fund 2019 budget

Kachikwu: We’ve generated over $2bn from oil block licences to fund 2019 budget

Ibe Kachikwu, minister of state for petroleum resources, says the federal government has generated over $2 billion from the renewal of oil block licences.The former group managing director the Nigerian National Petroleum Corporation (NNPC) said the funds will be used to implement the nation's budget.“We have actually asked for early renewals, because we needed to get money out of it [...]

0 comment Read Full Article
    Obono-Obla: Oil companies contributing to Nigeria’s economic woes

Obono-Obla: Oil companies contributing to Nigeria’s economic woes

Okoi Obono-Obla, chairman, special presidential investigation panel for recovery of public property, says oil companies are contributing to Nigeria’s economic woes.Obono-Obla made the remark on Monday during a press briefing where he spoke on recent activities of the panel.According to him, some of the international oil companies (IOCs) have not paid income taxes or royalties on oil blocs they’ve been [...]

0 comment Read Full Article
    Senate committee: NNPC used NLNG’s $1.05bn dividend to support fuel import

Senate committee: NNPC used NLNG’s $1.05bn dividend to support fuel import

The Nigerian National Petroleum Corporation (NNPC) says the senate has confirmed that $1.05 billion from Nigeria Liquefied Natural Gas (NLNG) is not missing.According to a statement signed by the NNPC spokesman, Ndu Ughamadu, the funds were used to support the importation of petroleum products into the country."The Chairman of the Senate Committee on Gas, Senator Bassey Albert, Thursday in Abuja, clarified [...]

0 comment Read Full Article
    FG: We’ll pay oil marketers N236bn on Friday

FG: We’ll pay oil marketers N236bn on Friday

The federal government says oil marketers would be paid N236 billion out of N348 billion approved by the national assembly as outstanding subsidy claims on Friday, December 14.  [...]

0 comment Read Full Article
    Rewane: Atiku must tell us who he’s planning to sell NNPC to

Rewane: Atiku must tell us who he’s planning to sell NNPC to

Bismarck Rewane, the chief executive of Financial Derivative, says Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP), must tell Nigerians, who he is planning to sell the Nigerian National Petroleum Corporation (NNPC) to.The Atiku policy document, released on Monday, highlights that the presidential candidate is seeking partial privatisation of the NNPC, regarded as Nigeria's cash cow.Reacting to [...]

2 comments Read Full Article
    Botswana halts under recoveries, raises petrol pump price twice in a month

Botswana halts under recoveries, raises petrol pump price twice in a month

The Republic of Botswana has raised the retail pump prices for petrol, diesel and illuminating paraffin for the second time in the space of a month.In a statement on Wednesday, the Botswana Energy Regulatory Authority (BERA) said the retail pump prices for petrol, diesel, and illuminating paraffin will all be increased from 00:01 on Thursday, November 15.The country had increased the [...]

0 comment Read Full Article
    Report: NEC, FAAC approved use of $1bn NLNG dividend for subsidy payment

Report: NEC, FAAC approved use of $1bn NLNG dividend for subsidy payment

The National Economic Council (NEC) and the Federation Allocation Accounts Committee (FAAC) approved the Nigerian National Petroleum Corporation’s (NNPC) use of Nigeria Liqueifed Natural Gas (NLNG) dividends for financing petrol subsidy. [...]

0 comment Read Full Article
    Senate will probe diversion of NLNG dividend, says Saraki

Senate will probe diversion of NLNG dividend, says Saraki

Senate President Bukola Saraki says the upper legislative chamber will probe the alleged diversion of the Nigerian Liquified Natural Gas (NLNG) dividend.Last week, Maikanti Baru, group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), told an ad hoc committee of the senate that in response to a call by the national assembly to put a stop to the [...]

1 comment Read Full Article
Advertisement

Advertisement

Advertisement

Exchange Rates

April 18, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement