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NNPC to disclose identities of oil blocks’ owners, contractors

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 […]

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Seven oil workers die as explosion rocks NNPC facility

Seven oil workers were killed in an explosion that rocked Gbetiokun, Oil Mining Lease (OML) 40, operated by the Nigerian Petroleum Development Company (NPDC) on behalf of the NPDC/ Elcrest Joint Venture. The Nigerian National Petroleum Corporation (NNPC), which reported this incident yesterday, noted that the explosion “occurred on Tuesday during the installation of a […]

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Nigeria’s petrol import gulps N643.2bn in Q1 ‘20

Importation of Premium Motor Spirit (PMS) also known as petrol into Nigeria gulped a whooping N643.2 billion in the first three months of 2020. National Bureau of Statistics (NBS), which gave this hint, said that Africa’s biggest crude oil exporter imported 5.26 billion litres of the product between January and March 2020. A petroleum products […]