Consequently, the House mandated its Committee on Public Accounts to “invite the management of the NNPC as well as that of the NLNG, to conduct a thorough investigation on activities that have taken place on the dividends account and report back to the House in four weeks.”
“Today marks an important chapter in the history of our great nation. It marks the day when our domestic natural gas pipeline networks from Obiafu in Rivers State, Escravos in Delta State and Lekki in Lagos State, are being connected through Kaduna to Kano states thereby further enhancing national energy security,” he said.
By Oke Peter The Group Managing Director of theNigerian National Petroleum Corporation(NNPC), Mele Kyari has disclosed that Nigerians and neighbouring countries that benefit from smuggling consume 54 million litres of petrol per day. Kyari said this at an interactive hearing on ‘Exiting petroleum subsidy: Ensuring self-sufficiency in domestic refining of petroleum products.” The event was…
Nigeria now has the highest number of people lacking electricity access in the world, at a total of 85 million Nigerian citizens.
Nigeria’s marginal fields licensing rounds have been the cornerstone of Nigeria’s upstream local content development strategy since the early 2000s. Following its marginal fields licensing rounds in 2001 and 2013, the Nigerian Department of Petroleum Resources (DPR) recently released guidelines on the 2020 licensing round. Under the 2020 licencing round, a total of 57 fields…
By Ijeoma Nwogwugwu With the price of a barrel of West Texas Intermediate (WTI), the benchmark for US crude oil, sinking into negative territory on Monday for May deliveries, and the price of Brent Crude – the benchmark used by Europe and the rest of the world – down by 25% to $19 yesterday, it…
By Oke Peter Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, on Wednesday painted a gloomy picture of tougher times ahead for the Nigerian economy on the back of latest developments in the global oil market which have seen markets tumble amid fears of a potential global recession. Speaking at…
Jumoke Adelabu – Lagos The amount spent on petrol imported into the country dropped by 42 per cent to N1.71tn in 2019, data obtained from the National Bureau of Statistics (NBS) have shown.The N1.71tn represented 10.75 per cent of the amount spent on all imported goods last year, compared to 2018 when petrol accounted for…
The outgoing Managing Director of the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), Mr. Bala Wunti, is stepping into one of the most important roles in the Nigerian oil industry following his appointment to the position of the Group General Manager, National Petroleum Investment Management Services (NAPIMS). NAPIMS…
Damilola Shittu – Abuja The Senate on Thursday agreed to probe the Nigerian National Petroleum Corporation (NNPC) over the $396m expended on turnaround maintenance of refineries in the country between 2013 and 2015. The red chamber also mandated the committees on Petroleum Downstream, Upstream and Gas to carry out a holistic investigation into the expenditure…
