Tag: NNPC

NNPC highlights measures to slash crude oil production cost below $10 per barrel

Adeola Yusuf

The Nigerian National Petroleum Corporation (NNPC) yesterday declared that it was looking very closely at such variables as logistics, security and transportation with a view to reducing cost of production to $10 and below per barrel.The corporation, had earlier stated that it was taking measures to bring down cost of crude oil production to $10 per barrel or below, prompting the Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr. Roland Ewubare, to reveal strategies to achieve this. A late night release by the Group General Manager, Group Public…

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NNPC to deepen investment portfolios in power, medical, housing

Adeola Yusuf

The Nigerian National Petroleum Corporation (NNPC) yesterday declared plans to firm up a bouquet of business portfolios in the power, medical, housing and other sectors that would strengthen the profitability of the national oil company. The corporation’s Chief Operating Officer, Ventures and Business Development, Mr. Roland Ewubare, maintained that the Ajaokuta- Kaduna-Kano (AKK) pipeline network would enable the NNPC to deepen its footprint in the power sector through the establishment of an Independent Power Plant (IPP). NNPC, Ewubare added, would use its network of excellent medical centres across the country…

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NNPC donates ambulance, medical consumables to Kano

Adeola Yusuf

The Nigerian National Petroleum Corporation (NNPC)-led Oil and Gas Industry coalition, at the weekend, donated an ambulance and medical consumables to Kano State Government as cases of Coronavirus pandemic in the state continue to spike.     The corporation also declared that it was determined to extend the industry intervention to all states of the federation, with Abuja, Rivers and South-West states having benefitted from the initiative.     Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed this while presenting medical consumables, equipment and an ambulance to the…

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NNPC halts fuel supply to Enugu depot

Adeola Yusuf

The pumping of petroleum products to Enugu depot, hub of fuel supply by the Nigerian National Petroleum Corporation (NNPC) to entire South East region, has been halted. The NNPC, which confirmed this yesterday, maintained that it was a result of oil pipeline vandalism, which had prevented “pumping of products to Enugu depot. “As calm returned to Osisioma Ngwa communities of Abia State following a fire incident last Friday, the NNPC has appealed to the host communities to help stem the spate of vandalism of oil pipeline,” the corporation said in…

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NNPC blames suspected oil theft for Aba pipeline explosion

Adeola Yusuf

The Nigerian National Petroleum Corporation (NNPC), yesterday said the pipeline fire outbreak along the Osisioma axis near Aba Depot in its System 2E pipeline network, might have been caused by suspected oil thieves, who had hacked into the line to intercept flow of petrol from Port Harcourt to Aba. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, confirmed fatalities and loss of properties in the ensuing inferno. Ughamadu said the corporation’s safety experts, along with men of the Abia State Fire Service, had swung into action to…

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NNPC declares N18.12bn trade surplus in one month

Adeola Yusuf

The Nigerian National Petroleum Corporation (NNPC) yesterday declared a trade surplus of N18.12 billion in the month of May. This is N960 million higher than N17.16 billion in April 2018. The corporation declared this in its transactions report published in the corporation’s May 2018 edition of the Monthly Financial and Operations Reports. Group General Manager, Group Public Affairs Division of NNPC, Ndu Ughamadu, noted that the report indicated that the additional monthly trade surplus of N0.96 billion was mainly due to increased performance of some of the corporation’s subsidiaries. He…

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FG puts up 52 NNPC’s hospitals for commercial use

Adeola Yusuf

Baru: Move’ll curtail medical tourism     The Federal Government has put up 52 hospitals belonging to the Nigerian National Petroleum Corporation (NNPC) for commercial use in a new template to curtail loss to medical tourism in the country. The NNPC, which confirmed this yesterday, added that the move was part of a major national healthcare intervention project, designed to halt medical tourism to foreign destinations through the provision of state-of-the-art hospitals and diagnostic centres across the country. The corporation, in a medical venture plans, has set a five-year gestation…

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NNPC intervenes as strike looms over Chevron’s mass

Adeola Yusuf

  The Nigerian National Petroleum Corporation (NNPC) has intervened in labour crisis rocking the United States (U.S.) super major, Chevron over its plans to cut off contracts with all its manpower services providers, which could make thousands of workers to lose their jobs. The contracts would expire by the end of October 2018 and the decision of Chevron on their renewal has been greeted by planned nationwide strike by oil workers’ unions. Urging oil workers unions to halt their planned industrial action over the labour dispute involving the Management of…

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Ethanol firm to take off in Ondo before December

Babatope Okeowo

Barring any last minute hiccup, the proposed cassava-ethanol project aimed at industrializing the state and create over 200,000 jobs will take off in Okeluse in Ose Local Government area of Ondo State before the end of the year. The ethanol project is a partnership between the State government and the Nigerian National Petroleum Corporation (NNPC). The MoU for the establishment of the cassava ethanol plant in Okeluse had been signed by the Ondo State Government and the NNPC. Special Adviser to the State Governor on Development and Investment, Mr. Boye…

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N264bn refinery maintenance funds’ recovery imperilled

Adeola Yusuf

NNPC frets over pipeline vandalism     Efforts to recover, in part or full, the N264 billion sunk in 16 years into Turn Around Maintenance (TAM) for the four refineries in Nigeria have suffered a major setback, New Telegraph has learnt. The TAM funds’ recovery, which was hitherto embargoed, was renewed with intent to raise funds to meet the 60 per cent production target in 2017 and 80 per cent by the end of 2018, as output outlook set for the refineries by NNPC. The audit of NNPC’s refineries by…

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