OIL & GAS

The Nigerian National Petroleum Company Limited has debunked claims that it is planning to increase its pump prices for Premium Motor Spirit, commonly referred to as petrol. The company’s management, in a statement shared Friday on X, said, ” we do not have…

The Nigerian National Petroleum Company Limited (NNPC) and the Nigerian Content Development & Monitoring Board (NCDMB) yesterday signed a Memorandum of Understanding (MoU) with the international oil companies (IOCs) to reduce contracting cycle by 81.6 per cent. At the least, this would mean…

The long-awaited 650,000 barrels per day Dangote refinery would receive its first cargo of crude in the next two weeks and would begin producing up to 370,000 bpd of diesel and jet fuel from October, the company’s management has said. In an interview…

The Nigerian National Petroleum Company Limited (NNPCL) has announced the exit of its top management staff who have less than 15 months to retire. In a statement, the company said the new reshuffling was in line with its aspiration to rejuvenate its workforce. “In…

The Nigerian National Petroleum Company Limited, on Sunday, announced the appointments of three new Executive Vice Presidents. NNPCL appointed Oritsemeyiwa Eyesan as the new Executive Vice President, Upstream; Olalekan Ogunleye, Executive Vice President, Gas, Power, and New Energy; and Adedapo Segunas the Executive…

The Nigerian National Petroleum Company (NNPC) Ltd. has entered into a historic $7 billion gas supply Memorandum of Understanding with Indorama Eleme Petrochemicals Limited, solidifying their commitment to advancing the utilization of natural gas by large-scale industries. Nigeria is currently in the midst…

Nigeria’s revenue from sale of crude oil (excluding condensates) increased by N188.7bn in August 2023, following a marginal gain in the production of the commodity by both international and indigenous operators in the sector. Data obtained from the Nigerian Upstream Petroleum Regulatory Commission…

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari has said that NNPC Retail made N18.4 billion in the first quarter of 2023, after acquiring OVH Energy in 2022. Kyari said this while addressing the House of Representatives…

Forty-two indigenous oil and gas companies have emerged winners of 49 flare sites in the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) bid process, the first of such in the history of hydrocarbon exploration and production in the country. Nigerian Upstream Petroleum…

The Major Oil Marketers Association of Nigeria has stated that even if refineries are revamped, the price of petrol cannot fall below N200 per litre. The association made the statement in response to a recent report in which the Independent Petroleum Marketers Association…