Oil, Gas and Energy

The Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on Premium Motor Spirit, popularly called petrol, the Chief Financial Officer, NNPCL, Umar Ajiya, has said. NNPCL is a major revenue…

The Nigerian National Petroleum Company Limited (NNPCL) increased its revenue profile by 37.2 per cent, from N6.42 trillion in 2021 to N8.81 trillion in 2022, its latest Audited Financial Statement (AFS) released Friday revealed. The document, the fourth in the series to…

Oil and gas sector workers have rejected the planned sale of Shell onshore assets, claiming the group being speculated to buy up the assets is unknown to it. Speaking under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria…

The Nigerian National Petroleum Company has recorded at least, 214 incidents of oil theft in the past week. In a video documentary released on Tuesday, the NNPCL disclosed that between the 13th and 19th of January 2024, 214 incidences of oil theft were…

The Dangote Petroleum Refinery and Petrochemicals has registered three oil marketers’ associations for distribution of diesel and aviation fuel. In a post on X (formerly Twitter) on Tuesday, the company owned by Africa’s richest man, Aliko Dangote, listed the three distribution groups as…

The Nigerian National Petroleum Company Limited said yesterday that it has in the past week uncovered no fewer than 83 illegal refineries in the Niger Delta. The company, which disclosed this on its X handle (otherwise known as Twitter), said 15 illegal pipeline…

Shell Plc has agreed to sell its Nigerian onshore oil and gas subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium of five companies known as Renaissance for a total of $2.4 billion, marking the end of Shell’s nearly…

The Nigerian National Petroleum Company (NNPC) Limited is in the process of handing over the operations of the Port Harcourt oil refinery to private entities. Minister of State for Petroleum Resources, Heineken Lokpobiri, had announced the mechanical completion of the refinery last…

The Dangote Refinery has started production. The largest single-train refinery in the world located in Nigeria’s commercial hub began operations in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery. Although it was supposed…