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Fuel Crisis: NNPC threatens to blacklist depot owners

The Nigerian National Petroleum Corporation (NNPC) has threatened sanctions against private depot owners found selling fuel above the governmentapproved ex-depot price of N148.17 per litre. Fuel queues resurfaced in the major cities of Lagos,Abujaandpartsof Ogunstate thisweek, forcingmotoriststo spendhoursatfilling stations. Manyresortedto purchasing the product in the black market for as much as N250 per litre against […]

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PERSISTING QUEUES AT FUEL STATIONS: We now have 1.7bn litres of fuel, says NNPC

…to begin 24-hour loading at depots …insists no plan to increase pump price As Nigerians continue to groan over the persisting queues at filling stations, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC) Limited, Mallam Mele Kyari, has revealed that the petrol crisis would soon be over as over 1.7 billion litres of […]

Opinion

For retiring NNPC’s spokesman, Obateru, it’s double celebration

For Dr. Kennie Obateru, the Group General Manager, Group Public Affairs Division, Nigerian National Petroleum Corporation (NNPC), September 24 this year is not only remarkable, but also special and historic. Besides being his yearly birthday, along with his equally erudite twin brother, Dr. Taye Obateru, a distinguished scholar and quintessential academia who lectures Mass Communication […]

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NNPC’s trading surplus rises by 314% to N39.85bn

The Nigerian National Petroleum Corporation (NNPC) has announced a N39.85 billion trading surplus for the month of February 2021. The figure represents a massive leap of 314.24 per cent from the N9.62 billion surplus it recorded in January 2021. This is contained in the February 2021 edition of the NNPC Monthly Financial and Operations Report […]

Business

NNPC OML 118 deal to yield $780m in Govt revenue

The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners – Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) – have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. […]

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NNPC zero remittance: States will find it difficult to survive –Governors

The Senior Special Adviser on Media and Publicity to the Cross River State governor, Mr. Christian Ita, has said that his state may not be able to pay salaries if the Nigerian National Petroleum Corporation (NNPC), insists it cannot remit revenue for May into the Federation Account. Similarly, the Director- General, Media and Communications to […]

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No fuel price hike for now, NNPC BACKTRACKS

OPS: Removal of fuel subsidy best for Nigeria’s economy The Nigerian National Petroleum Corporation (NNPC) has said it would maintain its current ex-depot price of petrol until the ongoing engagement with organised labour was concluded. Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, who made this known on Friday in […]

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NNPC forecloses fuel price hike in February

…seeks sanction for marketers hoarding products Notwithstanding the rise in the price of crude oil in the international market, the Nigerian National Petroleum Corporation (NNPC) has ruled out any increment in the price of Premium Motor Spirit (PMS) otherwise known as petrol in February. T he corporation explained that the decision was to allow ongoing […]

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NNPC generates N158bn from petroleum products in October

The Nigerian National Petroleum Corporation (NNPC) has said its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded a total of N158.04 billion from the sales of white products in October 2020. NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in a statement released yesterday in Abuja, noted that the October sales […]

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96 firms bid for NNPC’s depots, pipelines, terminals’ contracts

Ninety-six companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation NNPC)’s downstream infrastructure ranging from critical pipelines to depots and terminals through the build, operate and transfer (BOT) financing model. The Corporation confirmed this yesterday at a virtual public bid opening exercise held at the NNPC Towers, […]

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