The Nigerian National Petroleum Corporation (NNPC) yesterday declared that it secured financing agreement for the rehabilitation of the Port Harcourt Refinery by the African Export Import Bank (Afreximbank) as a fruit it reaped from its transparency and accountability. Though the rehabilitation is to gulp $1.5 billion, the financing deals secured from the Afreximbank, New Telegraph […]
… as subsidy hits N120bn monthly Landing cost now N234 per litre Nigerian National Petroleum Corporation (NNPC) has declared that it loses over N120 billion to fuel subsidy monthly, maintaining that an increase in pump price of fuel is inevitable. Group Managing Director of NNPC, Mele Kyari, who said this at the weekly media briefing […]
CDS pledges oil, gas assets’ protection Nigeria is losing about 200,000 barrels of crude oil daily to theft and vandalism, the Nigerian National Petroleum Corporation (NNPC) has said. Using the $66.92 per barrel price of the commodity at the international oil market as at Wednesday, the volume lost amounted to $13.384 million daily. Group Managing […]
President Muhammadu Buhari remains the only president that has never interfered in the operations of the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of NNPC, Malam Mele Kyari, who declared this in Sokoto while delivering the Usmanu Danfodiyo University’s 2021 First Quarter Public Lecture Series, commended President Buhari for giving the Corporation’s Management free-hand […]
Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has said that the Corporation was focusing more on gas, condensate and other revenue streams to tackle the revenue challenge arising from the oil production cut arrangement. Kyari also reiterated its commitment to abide by the output cut agreement of the Organization of […]
…says money belongs to FG, not states The withdrawal of over $21 billion from the Nigeria Liquefied Natural Gas (NLNG) dividends account by the Nigerian National Petroleum Corporation (NNPC) followed due process. Group Managing Director of NNPC, Malam Mele Kyari, gave the clarification yesterday before the House of Representatives Public Accounts Committee led by Hon. […]
The Nigerian National Petroleum Corporation (NNPC) has told oil producers in the country that the era during which they are allowed to spend $30 to produce a barrel of crude oil no longer exists. NNPC had earlier begun aggressive action to get oil producers in the country to produce at $10 per barrel and the […]
…says DCP’s accuser, a fraudster A contractor, Eddy Obinna, has stoutly risen in defence of the Head of the Inspector-General of Police (IG) Intelligence Response Team (IRT), DCP Abba Kyari, over alleged extortion. A businessman, Afeez Mojeed, had petitioned the Lagos State Judicial Panel of Inquiry and Restitution for SARS Related Abuses, alleging that Kyari […]
A businessman, Afeez Mojeed, has petitioned the Lagos State Judicial Panel of Inquiry on Police Brutality alleging that a Deputy Commissioner of Police (DCP), Abba Kyari, illegally extorted more than N41 million from him. In the petition dated October 22, 2020, filed by his lawyer, Kabir Akingbolu, the businessman alleged that Kyari and three other […]
The Nigerian National Petroleum C o r p o r a t i o n (NNPC) has agreed to reveal the identities of real owners of oil blocks, Joint Ventures partnership and contracts in the country’s oil industry. This forms part of key demands by Extractive Industry Transparency Initiatives (EITI) which just announced the emergence […]