OIL & GAS

Nigeria is owing the Nigerian National Petroleum Company Limited (NNPCL) N1.3 trillion, the Chief Executive Officer (CEO) of the company, Mele Kyari, told a joint committee of the National Assembly yesterday. Kyari also lamented the effect of massive oil theft and pipeline…

The National Oil Spills Detection and Response Agency (NOSDRA) has confirmed a report of a fire incident at two oil wells operated by Eroton Exploration and Production Limited (Eroton E&P) in Rivers state. Idris Musa, director-general, NOSDRA, made this known in a statement on…

The Nigerian National Petroleum Company NNPC Limited (NNPL) on Tuesday declared N674 billion Profit After Tax for the year that ended December 31, 2021. Its Group Chief Executive Officer, Malam Mele Kyari disclosed this at a briefing in Abuja. He said the profit rose…

The Organisation of Petroleum Exporting Countries (OPEC) may cut oil production output by as much as 1 million barrels per day when they meet tomorrow, some delegates said yesterday. If the international oil cartel makes good the decision, it would be the largest…

The Nigerian National Petroleum Company Limited on Saturday announced the acquisition of OVH Energy Marketing, owner and operator of the Oando branded retail service stations. Chairman, NNPC Limited, Margery Okadigbo, while speaking on the development in Abuja, said the acquisition of OVH assets had…

The Nigerian National Petroleum Company Limited (NNPCL) and the Indian Oil Company (IOC) are in talks that may see the deployment of about 20 million gas cylinders to enhance the use of Liquefied Petroleum Gas (LPG) nationwide in five years. Speaking at the…

The Nigerian National Petroleum Company Limited (NNPCL) at the weekend revealed that oil thieves were deceiving innocent artisanal Nigerians into taking jobs in illegal refineries by telling them that they were going to work in modular refineries. The General Manager National Investment Management…

As part of its drive for increased Foreign Direct Investments (FDI) into the Nigerian oil and gas industry, the federal government has finally set up the Oil and Gas Investment Promotion Centre at the Ministry of Petroleum Resources in Abuja. The investment promotion…

The Nigerian National Petroleum Company Limited (NNPCL) continued its zero funding for the federation account in August, extending its prolonged non-remittance to the federal, state and local governments to eight months. The development came against the backdrop of the company’s deduction for petrol…