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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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NNPC cuts loss from N803bn to N1.7bn in one year

339 firms bid for 2020/21 crude oil sales contract Nigerian National Petroleum Corporation (NNPC) has recorded a 99.7% reduction in its loss profile from N803 billion in 2018 to N1.7 billion in 2019. This revelation is contained in the 2019 Audited statement published for second time in the over 40 years’ history of the Corporation. […]

Business

How NNPC spent $4.41bn revenue in one year

More facts have emerged on how the Nigerian National Petroleum Corporation (NNPC) raked in $4 41 billion total export crude oil and gas receipt for the period of July 2019 to July 2020, and spent the amount. A document of the corporation sighted by New Telegraph showed that out of the revenue, the sum of […]

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NNPC demands capacity upgrade for indigenous operators

Nigerian National Petroleum Corporation (NNPC) has declared that the indigenous companies operating in the nation’s oil and gas sector must upscale their capacity for global competitiveness. This, the corporation said, is in order to achieve the target of reducing the cost of oil production in Nigeria on a sustainable basis. Group Managing Director of NNPC, […]

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NNPC saves Nigeria $5.48bn legal liabilities

Litigation Team bags Africa Arbitration Award The Nigerian National Petroleum Corporation (NNPC), yesterday, declared that it saved Nigeria over $5.48 billion in legal liabilities. The litigation Team of the Corporation has, based on this feat, won the Leading Case Counsel Team of the 2020 Africa Arbitration Awards. Corporation’s Group General Manager, Group Public Affairs Division, […]

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NNPC, FIRS, Customs target N43.5trn revenue in 3 years

Senate, NCS want excise on carbonated drinks Nigeria’s leading revenue generating agencies – Nigerian National Petroleum Corporation (NNPC), Federal Inland Revenue Service (FIRS) and Nigerian Customs Service (NCS) – yesterday, disclosed that they had projected to generate N43.5 trillion as revenue into the nation’s coffers in three years. The three frontline revenue generating agencies of […]

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No missing 48m barrels of crude oil–NNPC

Asks NASS to commission forensic audit The Nigerian National Petroleum Corporation (NNPC), yesterday, told the Senate that the claim by a news medium in the country that 48 million barrels of crude oil was missing, was false and misleading. The Corporation therefore, challenged the Senate to carry out a forensic audit on the claim at […]

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Group condemns attack on NNPC’s mgt staff

A group, Niger Delta Young Business Leaders Forum (NDYBLF), has condemned the alleged attack on the Chief Operating Officer (COO), upstream of the Nigerian National Petroleum Corporation (NNPC), Mr. Adokiye Tombomieye. The group lamented that the campaign of calumny against him was a calculated attempt to intimidate, blackmail, extort and stampede him as a result […]

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NNPC records N2.68bn trading surplus, revenue hits N238.33bn

…pipeline vandalism drops by 43% in May The Nigerian National Petroleum Corporation (NNPC) has recorded a 109 per cent upturn in revenue with a trading surplus of N2.68 billion in May compared to the N30.81 billion deficit posted in April 2020 when the effect of COVID-19 was at the peak. The Monthly Financial and Operational […]

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NNPC: How we stopped $125m payment to syndicate

The Nigerian National Petroleum Corporation (NNPC) in collaboration with officials of the Federal Government has saved Nigeria from losing a whooping sum of $125 million to an international crime syndicate led by one Messrs. Ramirez and Mr. Jose Salazar Tinajero and their company, Samano SA DE CV. The refusal of the NNPC to stop FG […]

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