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NNPC GMD REVEALS HOW ADULTERATED FUEL WAS IMPORTED AND THE IMPORTERS

The Group Managing Director/Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, on Wednesday, explained how ‘adulterated’ Premium Motor Spirit (PMS) from Belgium got into the country undetected and the companies that brought it in.Mr Kyari spoke about the problem which had led to PMS shortage and the emergence of queues… Continue reading NNPC GMD REVEALS HOW ADULTERATED FUEL WAS IMPORTED AND THE IMPORTERS

News, Uncategorized

NIGERIA RECORDS ZERO REVENUE FROM OIL EXPORT AS SUBSIDY HITS N199BN

Nigeria got no revenue from crude oil export in the month of October despite an average daily oil production of 1.417 million barrels in the month of September, latest report by the Nigeria National Petroleum Corporation (NNPC) has shown.NNPC on its report to the Federation Account allocation Committee (FAAC) released at the weekend disclosed that… Continue reading NIGERIA RECORDS ZERO REVENUE FROM OIL EXPORT AS SUBSIDY HITS N199BN

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NNPC, OGONI INITIATIVE PLEDGE COOPERATION ON OIL PRODUCTION AFTER 30 YEARS OF RIFT

On the heels of the recent Appeal Court judgement, leaders of Ogoni in Rivers State, under the auspices of the Ogoni Liberation Initiative, have pledged to cooperate with the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation,(NNPC), in the exploration and production of oil and gas resources in their territory.This… Continue reading NNPC, OGONI INITIATIVE PLEDGE COOPERATION ON OIL PRODUCTION AFTER 30 YEARS OF RIFT

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NNPC RECORDS PRODUCT SALE OF ₦234.63BN IN MARCH

The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021.This is contained in the March… Continue reading NNPC RECORDS PRODUCT SALE OF ₦234.63BN IN MARCH

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FUEL SUBSIDY GULPS N274.03BN AS CRUDE OIL PRICE HITS $72.01 PER BARREL

The Nigerian National Petroleum Corporation has incurred the sum of N274.03bn as subsidy payment for Premium Motor Spirit popularly known as petrol between January and May this year. The figure is contained in the NNPC Report for June which the Corporation submitted to the Federation Account Allocation Committee. The Report was obtained by DCO Global… Continue reading FUEL SUBSIDY GULPS N274.03BN AS CRUDE OIL PRICE HITS $72.01 PER BARREL