Tuesday, November 24

Tag: nnpc

Reps Summon Mele Kyari, Emefiele Over Non Remittance Of ₦3.24 Trillion In 2014
Politics

Reps Summon Mele Kyari, Emefiele Over Non Remittance Of ₦3.24 Trillion In 2014

The House of Representatives has summoned the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari; and the Governor of the Central Bank of Nigeria, Godwin Emefiele, over non-remittance of $19.25bn (approximately N3.24tn) revenue that accrued from sales of crude oil in 2014 Chairman of the House Committee on Public Accounts, Wole Oke, issued the summons based on audit queries issued by the Office of the Auditor General of the Federation for the period. The committee had penultimate week accused the NNPC GMD of refusing to respond to an audit query issued against the corporation over alleged illegal withdrawals from the Nigerian Liquefied Natural Gas Limited’s Dividends Account, totalling of $20.3bn. Kyari, who has yet to appear before the lawmaker...
FG Cuts N2 From New Pump Price, Petrol To Sell At N170.17
News

FG Cuts N2 From New Pump Price, Petrol To Sell At N170.17

The Nigerian National Petroleum Corporation (NNPC) has cut N2 from N155.17 ex-depot price of petrol earlier announced on Friday. With this new price, a litre of petrol will now sell at between N166.17 and N170.17 across the country. The state oil company announced the reduction in a statement on Friday night. “NNPC is aware of a document widely circulating in the media purporting an increase in the PPMC Ex-Coastal Price and Ex-Depot Price (with collection) to N130 and N155.17 respectively and wishes to clarify that although there was a slight increase in the price based on the prevailing realities of market forces of demand and supply, the correct prices, as can be seen on PPMC’s “Customer Express” platform (online portal for procurement of petroleum products) are: Ex-Coastal ...
NNPC Raises Petrol Depot Price, Marketers To Sell At ₦168 – ₦170 Per Litre
News

NNPC Raises Petrol Depot Price, Marketers To Sell At ₦168 – ₦170 Per Litre

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre. The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. The memo, a copy of which was seen by our correspondent, said the new ex-depot price would take effect from Friday. The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots. In its PMS price proposal for November, the PPMC put the landing cost of petrol at N128.89 per litre, up from N119.77 per litre in September/October. It said the estimated minimum pump price of the pro...
Members of a cabal were enriching themselves with susbidy payments – NNPC GMD, Mele Kyari
Politics

Members of a cabal were enriching themselves with susbidy payments – NNPC GMD, Mele Kyari

Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) has alleged that members of a cabal were enriching themselves with susbidy payments before it was removed by the federal government.   Kyari who said this in an Hausa programme on Liberty FM, Kaduna, insisted that fuel subsidy was not beneficial to the masses and was removed because it was characterised by fraudulent activities.   The NNPC GMD also disclosed that the money from subsidy payment will now be channeled into projects that will have a direct impact on the masses.   Kyari said;   “The crude oil is a global commodity and its price is not hidden, everyone can calculate and know how much is the cost of every final product from the crude at the inter...
78 Firms Bid To Rehabilitate Pipelines, Depots – NNPC
News

78 Firms Bid To Rehabilitate Pipelines, Depots – NNPC

The Nigerian National Petroleum Corporation on Sunday announced that 78 companies submitted virtual bids to rehabilitate its downstream pipelines, associated depots and terminal infrastructure through the finance, build, operate and transfer model. NNPC’s Group Managing Director, Mele Kyari, said the exercise was in fulfilment of the corporation’s commitment to transparency and accountability as an Extractive Industries Transparency Initiative partner company. Kyari disclosed this in a statement issued in Abuja by the spokesperson of the oil firm, Kennie Obateru. He said the finance, build, operate and transfer model became imperative in the corporation’s journey to rehabilitate its downstream infrastructure which over time had become vulnerable, lost value and integrity due t...
Petrol Price Now N151.56 Per Litre ― PPMC
News

Petrol Price Now N151.56 Per Litre ― PPMC

THE price of petrol has been increased to N151.56 per litre, according to Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, NNPC. In a statement obtained by Vanguard, D.O Abalaka of the PPMC, stated: “Please be informed that a new product price adjustment has been effected on our payment platform. “To this end, the price of Premium Motor Spirit (PMS) is now one hundred and fifty-one naira, fifty-six kobo (N151.56k) per litre.” He added: “This takes effect from September 2, 2020.”
Nigeria Exported $4.47bn Crude, FAAC Got N1.83tn —NNPC
News

Nigeria Exported $4.47bn Crude, FAAC Got N1.83tn —NNPC

It wasn’t that long ago when much of the global elite had conclusively decided that climate change was our world’s top priority. Then came a massive sideswiping by a global pandemic, of which we have only seen the first wave, along with an equally massive global recession. It serves as a timely reminder that an alarmism that cultivates one fear over others serves society poorly. In the “BC” era – Before Coronavirus – the World Health Organisation famously called climate change the “greatest threat to global health in the 21st Century.” Even as coronavirus tentacles were already spreading, the glitterati gathered in Davos this January and declared that climate accounted for all the long-term biggest risks to the world. The media happily recounted a steady stream of catastrophic c...
Seven oil Workers Killed in an Explosion at the Benin River Basin
News

Seven oil Workers Killed in an Explosion at the Benin River Basin

The Nigerian National Petroleum Corporation (NNPC) has confirmed the death of seven oil workers killed in an explosion that occurred at Gbetiokun, OML 40, operated by the Nigerian Petroleum Development Company (NPDC), on behalf of the NPDC/Elcrest Joint Venture. A statement from the corporation said the incident occurred on Wednesday, July 8 during the installation of a ladder on a platform (Benin River Valve Station) for access during discharging of Gbetiokun production. The statement said that a detailed investigation into the cause of the explosion has commenced. ''The bodies of casualties have been deposited in a morgue in Sapele, while families of the personnel involved are being contacted by their employers: Weld Affairs and Flow Impact, which are consultants to NPDC.'' ...
Details of Buhari’s Meeting with Lawan on Sunday Revealed
News

Details of Buhari’s Meeting with Lawan on Sunday Revealed

Senate President, Ahmad Lawan, has shared details of his meeting with President Muhammadu Buhari. Both men met behind closed doors on Sunday at the State House in Abuja. Buhari and Lawan discussed the current state of security in the country, the crisis currently engulfing the ruling All Progressives Congress (APC) and other topics. Speaking to reporters after the meeting, Lawan said “You know that the country is facing many serious and deep security challenges and I have come to meet with Mr President to discuss with him what we have discussed in the senate previously that we should do whatever it will take to improve the security situation in the country. The Senate President also called for more resources to be provided for the Army, Navy, Air F...
NNPC Begins Crude Oil Exploration In 11 LGAs In Niger, Kwara, Kogi
News

NNPC Begins Crude Oil Exploration In 11 LGAs In Niger, Kwara, Kogi

The Nigeria National Petroleum Corporation (NNPC) on Wednesday said it has commenced crude oil exploration along the Bida Basin spreading across eight local government councils of Niger state, two in Kwara state and one in Kogi state. Group managing Director (GMD) of the NNPC, Mallam Mele Kolo Kyari, who disclosed this when he paid courtesy call on Governor Abubakar Sani Bello of Niger on Wednesday said the Corporation is to unveil the 2D seismic data acquisition in the Bida Sokoto basin. Progress is being recorded in the ongoing exploration of inland basins by the Corporation is capable of growing Nigeria’s reserve to 40 billion barrels by the year 2023, the GMD who spoke through Group General Manager Frontier Exploration Services, Abdullahi Bomai said. Mere Kyari said, “In d...
NNPC Is Constructing N21bn Infectious Disease Hospital In Katsina – GMD
News

NNPC Is Constructing N21bn Infectious Disease Hospital In Katsina – GMD

The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, yesterday laid the foundation for the construction of a 200-bed Emergency and Infectious Disease Hospital in Kaita, Katsina State. The hospital, being built at the cost of N21 billion, would provide services to patients in the OM North West zone. It is one of the 12 hospitals being constructed by the NNPC across the six geo-political zones of the country. Kyari explained that the project being executed by the NNPC, Total and other oil and Gas companies operating in the country would be completed in 18 months. The GMD explained that the N21 billon to be expended on the project would be for construction of the hospital, provision of medical facilities, logistics and support to pati...
Oshiomhole Kicked Against Removal of Fuel Subsidy – Atiku
News

Oshiomhole Kicked Against Removal of Fuel Subsidy – Atiku

Former Vice President Atiku Abubakar has accused the National Chairman of the All Progressives Congress (APC), Adams Oshiomhole, of frustrating plans to remove fuel subsidy during President Olusegun Obasanjo’s administration Atiku recalled that he headed the negotiations with the Nigerian Labour Congress (NLC) with Oshiomhole as the Chairman. According to the former Vice President, the APC Chairman stood strongly against the removal of petrol subsidy. The Waziri of Adamawa was backing an earlier tweet by his Spokesman, Paul Ibe, which reads, “For the avoidance of doubt, the Obasanjo administration embarked on a regime of subsidy removal. “But the former NLC Chairman frustrated the efforts. Even at that, the Obasanjo government achieved some measures of subsidy removal befor...
Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria
Politics

Oil Production: $4 Per Barrel In Saudi Arabia, $3 In Russia, $21.2 In Nigeria

The leadership of the Nigerian National Petroleum Corporation (NNPC), yesterday, came under fire in Senate, over high cost of oil production, resulting in a marginal profit of just $3 per barrel for the country. This is coming amidst protests from senators against the $3 marginal profit being made on a barrel by the Corporation, rhey called on the Federal Government to get the nation’s economy diversified as quickly as possible. Information on the high cost of oil production which is $21.2 per barrel , almost equaling $25 per barrel oil price benchmark fixed for the N10.509 trillion 2020 revised budget , came to the fore when officials of the Corporation appeared before the Senate Committee on Finance. Trouble started when its Chief Operating Officer (Upstream), Yemi Adetunji ...
N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns
Politics

N4.5tr Budget Deficit May Trigger Fresh Recession – Finance Minister, Zainab Ahmed Warns

With the deficit financing of the revised N10.509 trillion 2020 budget rising from N1.847 trillion to N4.563 trillion, the economy might be heading for another recession, the Minister of Finance, Budget and National Planning, Zainab Ahmed, has warned. She expressed the fear yesterday in Abuja during a session with the Senate Committee on Finance where heads of revenue-generating agencies made presentations on the revised 2020-2022 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP). The minister noted that projected revenues from the agencies had been drastically slashed. According to her, 77 per cent of the new financial expectations from sources like the Nigerian National Petroleum Corporation (NNPC), the Federal Inland Revenue Service (FIRS) and the...
NNPC: Northern Nigeria Petroleum Company By Bayo Oluwasanmi
News

NNPC: Northern Nigeria Petroleum Company By Bayo Oluwasanmi

Nepotism results in bias, unfair treatment, and exclusion of others. Nepotism has been the practice of presidents of Northern extraction. The current President Almajiri has carried nepotism to the level of insanity. Nigeria is the corruption capital of the world and is making no progress at ending the practice. Corruption is rampant in Nigeria, so is nepotism. Corruption is the abuse of power for personal gain. Nepotism is the abuse of power extended to support a specific group’s interest, usually based on personal greed. The death of Maikanti Baru, former Group Managing Director of Nigeria National Petroleum Corporation, makes it necessary to review the top 20 positions in the corporation. A review of the top 20 executive positions in the corporation reads like a Northern Nigeri...
Nigerians Condemn Appointments Of ‘Only Northerners’, NNPC Reacts
News

Nigerians Condemn Appointments Of ‘Only Northerners’, NNPC Reacts

The Nigerian National Petroleum Corporation (NNPC) says its appointments always adhere to the principle of transparency and accountability. Kennie Obateru, NNPC said this in a statement Sunday. The corporation in March disengaged some of its staff and appointed new top management officials. This triggered criticisms from Nigerians, Niger Delta leaders and groups. But the corporation is insisting that federal character was also a factor in the progression of the newly appointees. It said many top management officers of the corporation were moved to new positions, while some were promoted based on their verifiable track records of performance. Obateru said some “Chief Operating Officers, Group General Managers and Managing Directors of subsidiaries were affected in what...
CBN, NNPC to Take Care of Accommodation and Feeding of Returnees – FG
News

CBN, NNPC to Take Care of Accommodation and Feeding of Returnees – FG

The Minister of foreign affairs Geoffrey Onyeama on Monday May 18, announced that the Central Bank of Nigeria (CBN) and Nigerian National Petroleum Corporation (NNPC) will take care of the hotel accommodation and feeding bills of Nigerians who were recently evacuated from countries they were stranded in. It was reported earlier that the evacuees were directed by the federal government to pay N297,000 for their 14-day mandatory isolation. However following the criticism the directive sparked off, Onyeama said he approached the Governor of the Central Bank of Nigeria and Group Managing Director of NNPC who both agreed to pick the bill. He further revealed that the initial decision was taken due to paucity of funds even though they were not happy with it. Onyeama said; &nbs...
₦5.548 Trillion Available To Fund 2020 Budget – Zainab Ahmed
Politics

₦5.548 Trillion Available To Fund 2020 Budget – Zainab Ahmed

While briefing the leadership of the National Assembly on Thursday, the Minister of Finance, Zainab Ahmed, reveal that the amount available for funding the 2020 Budget is now estimated at N5.548 trillion. The minister also spoke on the plan by the federal government to amend the N10.59 trillion 2020 budget passed by the National Assembly in December last year. She said the budget is down from N8.419 trillion, a revised revenue estimate which is 34 percent (N2.87 trillion) lower than what was initially approved, adding that the crude oil benchmark price is reduced from US$57 per barrel to US$25 per barrel. The Minister said; The federal government also adjusted the budget exchange rate to N360/US$1; and reduced the upfront fiscal deductions by the Nigerian National Petroleum C...
Petrol To Sell At 117 Per Litre As PPMC Slashes Ex-Depot Prices
News

Petrol To Sell At 117 Per Litre As PPMC Slashes Ex-Depot Prices

THE Petroleum Products Marketing Company (PPMC), Wednesday, slashed the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to N108 per litre, a move reflecting the drop in crude oil prices. It is also expected to result in a lower pump price at petrol stations by end of this week. In a memo to oil marketers and other stakeholders in the petroleum marketing business, dated May 5, 2020, with the subject: ‘Re: PPMC Petroleum Products Prices for May 2020,’ the PPMC also slashed the ex-depot price of Automotive Gasoline Oil, also known as diesel, to N164 per litre for depots in Lagos and N166 per litre for depots in Oghara, Calabar, Port Harcourt, among others. The indicated that the new prices would take effect from May 5, 2020. The ex-depot price is the price at wh...
NNPC new staff to assume virtual duty May 4 – Obateru
News

NNPC new staff to assume virtual duty May 4 – Obateru

No fewer than 1,000 graduate trainees recently recruited by the Nigerian National Petroleum Corporation (NNPC) are to assume virtual duty Monday, May 4, the corporation says in a statement. The statement released in Abuja on Thursday was signed by the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru. “The trainees are to assume duty first, virtually, while the corporation monitors the COVID -19 situation and the Federal Government’s directives to determine a date of physical assumption of duty,” he said. He explained that the option of virtual assumption of duty was necessitated by the need to comply with extant protocol on social distancing and reduced number of people in workplace. The NNPC spokesman said the trainees had completed online documentation,...
Nigeria May Stop Oil Production If Price Crash Persists – NNPC
News

Nigeria May Stop Oil Production If Price Crash Persists – NNPC

The Nigerian National Petroleum Corporation (NNPC) has said the country might have to halt the production of oil if the prices of oil continued to fall consistently. Brent, the benchmark against which Nigeria’s oil grades are priced, plunged by $6.34 to $19.23 per barrel on Tuesday amidst falling demand and an unprecedented glut in the global market that is causing storage to fill up quickly. Kennie Obateru, the Group General Manager, Group Public Affairs Department, NNPC said Wednesday that even though Nigeria had not stopped oil production, there was a possibility it could. “If the situation persists, it is something that is bound to happen definitely. “We can’t keep producing if there is no market to sell to. And it is not something that is peculiar to Nigeria. It is a globa...
NNPC To Stop Running Refineries – Mele. Kyari
Politics

NNPC To Stop Running Refineries – Mele. Kyari

The Nigerian National Petroleum Corporation (NNPC) will no longer be involved in the management of the nation’s refineries after their rehabilitation. Its Group Managing Director (GMD ) Mallam Mele Kyari, disclosed this in an interview on Arise TV breakfast programme, The Morning Show on Wednesday. He said that upon completion of the ongoing rehabilitation exercise, the services of a company world be procured to manage the plants on an Operations and Maintenance (O&M) basis. Kyari revealed: “We are going to get an O&M contract, NNPC won’t run it. We are going to get a firm that will guarantee that this plant would run for some time. “We want to try a different model of getting this refinery to run. And we are going to apply this process for the running of the other two re...
International Demand for Nigeria’s oil drops by 6.8m barrels- NNPC reveals
News

International Demand for Nigeria’s oil drops by 6.8m barrels- NNPC reveals

The Nigerian National Petroleum Corporation has revealed that international demand for the country's crude oil dropped by 6.8m barrels in March due to the ongoing Coronavirus pandemic. Coronavirus has impacted global oil demand with global oil prices dropping while the International Monetary Fund and the World Bank have predicted a recession worse than the 2009 recession. Mele Kyari, Group Managing director of the NNPC has stated that even though oil prices have dropped, the markets will stabilize as the year runs. Speaking on Channels Television’s Sunrise Daily programme on Wednesday, Kyari said; “Well, it (Nigeria'sOil demand in International market) is doing badly but it is improving. ''Last week, it went down to close to $15 per barrel but as I speak this morning, we are at $32....
Politics

No More Payment Of Oil Subsidy Going Forward – NNPC

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, Monday, hinted of a possible deregulation of the Nigerian downstream petroleum sector, stating that the Federal Government has eliminated subsidy and under recovery in the industry. Speaking in an interview monitored on a television programme in Abuja, Kyari said, “There is no subsidy and it is zero forever. Going forward there would be no resort to either subsidy or under recovery of any nature. NNPC will play in the marketplace, it will just be another marketer in the space. But we will be there for the country to sustain security of supply at market price.” Kyari further disclosed that Nigeria’s crude oil and condensates output has risen to 2.3 million barrels per day. He...
NNPC Confirms COVID-19 Case In Its Abuja Estate, Dismisses Claims Of Mass Outbreak
Health

NNPC Confirms COVID-19 Case In Its Abuja Estate, Dismisses Claims Of Mass Outbreak

The Nigerian National Petroleum Corporation (NNPC) has confirmed a case of COVID-19 that was recorded in an apartment at the Corporation’s estate in the Garki Area of Abuja, the Federal Capital Territory (FCT). In a statement released April 4, the corporation dismissed insinuation of mass outbreak of Coronavirus infection in the facility. The corporation explained that the said case, involving a non-member of staff of the corporation, had to do with an individual who had just returned from the United Kingdom and developed symptoms of the decease. ”His case was said to have been confirmed positive by the NCDC after undergoing a laboratory test and in line with NCDC approved protocol, all residents of the affected apartment were moved out and placed in Isolation, while officials of...
Allow Tanker Drivers Operate During Lockdown, NNPC Tells Security Agencies
News

Allow Tanker Drivers Operate During Lockdown, NNPC Tells Security Agencies

The Nigerian National Petroleum Corporation (NNPC) has appealed to law enforcement agencies across the country to allow free movement of petroleum products by tanker drivers during the lockdown ordered by President Muhammadu Buhari in Lagos, Ogun and the Federal Capital Territory, Abuja. The group in a statement signed on Tuesday said the exemption granted by President Buhari to certain categories of essential workers covers the operations of petroleum products tanker drivers. “The Federal Government counts on the support of the law enforcement agencies across the country to ensure smooth distribution of petroleum products across the nook and cranny of the country during the period of the restriction,” Kennie Obateru, NNPC Group General Manager, Public Affairs Division said in the st...
Singer, 2baba’s N10 Million Donation Grabs Buhari’s Attention
Celebs

Singer, 2baba’s N10 Million Donation Grabs Buhari’s Attention

Veteran musician, Innoncent Idibia has drawn the attention of President Buhari with his generous donation of N10 million naira to government to help combat the highly infectious COVID 19 virus. President Buhari singled out the singer for commendation in the entertainment industry. The unprecedented donation makes the singer the current biggest donor from the creative industry in the fight to contain the infectious COVID !9. As of Monday, Nigeria announced its 131 case which according to experts signifies a tipping point as fear heightens of a community transmission among Nigerians following the closure of both land and air border into the country. Few days ago, 2baba announced donation of the some of N10 million in collaboration with alcohol brand, Trophy Extra Special Stout t...
FG Proposes Review Of Oil Benchmark To $30pb
News

FG Proposes Review Of Oil Benchmark To $30pb

In a meeting with the leadership of the National Assembly on Wednesday, Minister of Finance, Zainab Ahmed, explained that prior to the COVID-19 and oil price decline, the Nigerian economy was already fragile and vulnerable. She added that the impact of the pandemic put increasing pressure on the Naira and foreign reserves as the crude oil sales receipts declined and the country’s micro-economic outlook worsened. Ahmed disclosed that the Federal Government has undertaken cuts to revenue-related expenditures for the Nigerian National Petroleum Corporation (NNPC) for several projects included in the 2020 Appropriation Act passed by the National Assembly in December, 2019. “Prior to COVID-19 and Oil price decline, the Nigerian economy was already fragile and vulnerable.” She also t...
Court Convicts Ex-NNPC Official Over N6bn Fraud In Kaduna
News

Court Convicts Ex-NNPC Official Over N6bn Fraud In Kaduna

The Kaduna Zonal Office of the Economic and Financial Crimes Commission (EFCC), has secured the conviction of a former Sales Assistant of the Nigerian National Petroleum Corporation (NNPC), Abdulkadir Mohammed Salihu. According to the EFCC, he was convicted before Justice Z. B Abubakar of the Federal High Court in Kaduna State, over fraudulent activities that summed up to the tune of N6 billion. The anti-graft agency revealed this in a tweet saying: The EFCC, Kaduna Zonal Office has secured the conviction of one Abdulkadir Mohammed Salihu, a former Sales Assistant of the Nigerian National Petroleum Corporation, NNPC, Kaduna Depot.He was arraigned on three count charge bordering on fraud to the tune of N6 billion, before Justice Z. B Abubakar of the Federal High Court in Kaduna Sta...
FG Reduces Petrol Pump Price to N125/litre
News

FG Reduces Petrol Pump Price to N125/litre

The Nigerian National Petroleum Corporation (NNPC) has announced that beginning from Thursday March 19th, the fuel pumps at its retail stations will be adjusted to N125 per litre. NNPC group managing director, Mele Kyary who announced this today, said the adjustment is in compliance with the directive given by Timipre Sylva, the minister of state for petroleum resources. “In compliance with the directives of the honourable minister of state for petroleum resources on PMS pricing, the corporation has reviewed its ex-coastal, ex-depot and NNPC retail pump prices accordingly,” the statement read. “Effective March 19, 2020, NNPC ex-coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while the ex-depot price is reduced from N133.28/litre to N113.28/l...
Vandalism is Not the Cause of Pipeline Explosion in Abule Ado – NEMA
News

Vandalism is Not the Cause of Pipeline Explosion in Abule Ado – NEMA

The National Emergency Management Agency (NEMA) has debunked claims of pipeline vandalism being the cause of the pipeline explosion in Abule Ado community of Lagos State. Ibrahim Farinloye, acting coordinator of the Lagos office of the agency disclosed that evidence at the scene of the incident revealed that the explosion is not connected to vandalism but might have occurred in a factory located in the Abule Ado area. Farinloye who confirmed that so many properties were destroyed as a result of the incident,  disclosed that the pipeline passing through the area was shut down by the Nigerian National Petroleum Corporation (NNPC) after the explosion which occurred around 9am today March 15. Here are more videos from the scene of the incident;
Pipeline Explosion Rocks Abule Ado in Lagos
News

Pipeline Explosion Rocks Abule Ado in Lagos

A pipeline reportedly owned by the Nigeria National Petroleum Corporation, NNPC, in Abule-Soba community of Lagos state, exploded this morning. The explosion was so loud that residents of Surulere, Amuwo Odofin, Oshodi, Ikeja, Alimosho and environs felt the impact. The explosion left some of the windows shattered and ceilings pulled off.     It is believed that activities of pipeline vandals led to the explosion. The casualty figure is yet unknown.   https://twitter.com/_chukkysmiles/status/1239106935066107904
$750m Oil Stolen In 2019 – NNPC
Politics

$750m Oil Stolen In 2019 – NNPC

The Nigerian National Petroleum Corporation has said the nation lost about $750m to crude oil theft in 2019. The Group Managing Director, NNPC, Mallam Mele Kyari, who disclosed this on Tuesday, decried the growing activities of oil thieves and pirates which he described as a threat to the operations of the corporation. Kyari spoke to members of the Executive Intelligence Management Course 13 of the National Institute for Security Studies who visited the NNPC Towers, Abuja, on a study tour. He said any threat to the corporation’s operations was a direct threat to the very survival of Nigeria because of the strategic role of the corporation as an enabler of the economy. According to Kyari, other security challenges facing the corporation include vandalism of oil and gas infra...
NNPC Concludes 2019 Recruitment, Releases Final List For Graduate Trainees
News

NNPC Concludes 2019 Recruitment, Releases Final List For Graduate Trainees

The Nigerian National Petroleum Corporation (NNPC) has finally concluded the recruitment of Graduate Trainees for its 2019/2020 employment exercise which began nearly a year ago, and this is also the first time the national oil company concluded a publicly advertised recruitment exercise since 2012. Mycelebrityandi gathered that, NNPC hired 1,050 graduate trainees as contained in a statement on Friday, by the Group General Manager, Group Public Affairs, Samson Makoji. It quoted the Group Managing Director, Mele Kyari, as saying that the Human Resources Division of the NNPC has since commenced the issuance of provisional offers of employment to the 1,050 fresh employees. While describing the recruitment as a very important assignment for the corporation, Kyari stated that the o...
Senate Probes NNPC Over $396 Million Refineries’ Maintenance
Politics

Senate Probes NNPC Over $396 Million Refineries’ Maintenance

The Senate resolved to investigate the Nigerian National Petroleum Corporation over the $396m spent on Turn-Around Maintenance of refineries between 2013 and 2015. This followed the adoption of a motion titled “The Moribund Refineries in the Country” by Senator Yusuf A. Yusuf (APC, Taraba Central). The Senate mandated its Committees on Petroleum Downstream, Upstream and Gas to investigate the expenditures. It also asked the committees to probe the current state of the refineries as well as convoke a stakeholders’ conference with the aim of finding ways to revamp them. Senator Yusuf recalled that Nigeria, through NNPC, had in the past 25 years spent billions of dollars in Turn-Around Maintenance of the refineries, the latest being over $396m spent between 2013 and 2015 without meanin...
Abule-Egba Explosion: Lagos Govt To Meet With NNPC On Compensation For Victims
Politics

Abule-Egba Explosion: Lagos Govt To Meet With NNPC On Compensation For Victims

Lagos State Government will be meeting with the management of Nigeria National Petroleum Corporation (NNPC) to discuss on issues of compensation for victims of the January 19 pipeline fire in Abule Egba, Governor Babajide Sanwo-Olu said on Saturday. Sanwo-Olu said the Government would also be discussing with the corporation on measures to be taken in finding a lasting solution to incidents of pipeline vandalism in the State. The Governor disclosed this while sympathising with over 300 displaced victims of the inferno resettled in Igando Emergency Relief Camp in Alimosho by the State Government. It would be recalled that Sanwo-Olu was on a week-long working visit to the United Kingdom (UK) when the incident occurred. However, his deputy, Dr. Obafemi Hamzat, led cabinet members an...
Pipeline Fire Explosion Rock Katangora Axis In Abule Egba, Lagos
News

Pipeline Fire Explosion Rock Katangora Axis In Abule Egba, Lagos

There is an inferno at one of the Nigeria National Petroleum Corporation, NNPC, pipelines at Ekoro, Abule -Egba area of Lagos State. Several properties were said to have been consumed. Preliminary investigation revealed that the inferno was as a result of pipeline vandals who burst one of the oil pipelines in the area to siphon the product. Public Relations Officer of the Lagos State Fire Service, Mr. Amodu, who confirmed the incident, said there was no casualty at press time. There is a raging fire at one of the NNPC, pipelines at Ekoro, Abule -Egba area of Lagos State.#abuleegba pic.twitter.com/MZicR38YRY — EkoMiamiblog (@ekomiamiblog) January 19, 2020
FG To Stop Importation Of Petrol By 2023
News

FG To Stop Importation Of Petrol By 2023

The Federal Government has set a 2023 deadline to stop the importation of petrol into the country. Nigeria, an oil-producing country has been heavily dependent on the importation of petroleum products since its four major oil refineries have been under-utilized. According to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, while signing the Condensate refinery strategy programme Front End Engineering Design, the strategy is expected to deliver 20 million litres of Petrol when it’s completed. Mr Kyari explained that President Muhammadu Buhari is concerned that as an oil-producing country, Nigeria is one of the highest importers of petrol in the world. In 2017, the Federal Government planned to stop the importation of fuel by 2019...
News

Why CBN, NNPC Are Not On Our Platform – IPPIS

The Integrated Personnel Payroll Integrated System says the Central Bank of Nigeria, Nigerian National Petroleum Corporation, Federal Inland Revenue Service and a few other agencies are not on their platform because they are revenue-generating entities. IPPIS further stated that these agencies do not draw their funding from the consolidated revenue account but may be enrolled in the platform later. The Director of IPPIS, Olufehinti Olusegun, said this on Channels Television’s Sunrise Daily programme on Wednesday. Olusegun said this while reacting to complaints by the Academic Staff Union of Universities that the Federal Government was partial in its implementation of the IPPIS initiative by exempting the CBN, NNPC and other government agencies. ASUU, which has rejected the initia...
Nigeria Benefits From Africa-Russia Summit Held In Sochi
Politics

Nigeria Benefits From Africa-Russia Summit Held In Sochi

The Nigerian government and its oil sector have benefited from the Africa-Russia Summit held in Sochi,Russia which was attended by the President of Nigeria, Muhammadu Buhari and other delegates. The summit which ran from October 23-24 saw the Nigerian National Petroleum Corporation and the Russian leading Oil Company, Lukeoil signing a Memorandum of Understanding to elevate commercial relationship to a government-to-government backed partnership. The Russian government has agreed “to improve the efficiency of our oil and gas sector which provides us with the much-needed capital to invest in our security, infrastructure and economic diversification programmes”. While taking note of the agreement between NNPC and Lukeoil, President Buhari gave an assurance that his administratio...
Highlights Of Buhari’s Meeting With Putin At The Russia-african Summit
Politics

Highlights Of Buhari’s Meeting With Putin At The Russia-african Summit

President Muhammadu Buhari’s meeting with the Russian President Vladimir Putin at the Russia-African Summit is aimed at strengthening both countries bilateral relationships. According to the president's Special Assistant on New Media, Tolu Ogunlesi, the following were the highlights of their discussions: 1. Agreement on a Joint Venture between Nigerian National Petroleum Corporation (NNPC) and Russia-based Lukoil, focused on refinery revitalization. 2. Nigeria and Russia agreed to revive and solidify the venture between the NNPC and Russia’s Gazprom for gas Infrastructure development in Nigeria 3. President Buhari request for the return of Russia, on a government-to-government basis, to complete and launch the abandoned Ajaokuta Steel Rolling Mill. Request was accepted by Pre...
NNPC Discovers Crude Oil, Gas in Bauchi State
News

NNPC Discovers Crude Oil, Gas in Bauchi State

At about 21:20 hours of 10th October 2019, NNPC group drilling crew working at Kolmani River-II in Gongola Basin have encountered hydrocarbon outflow to the well head while performing well test operations... NNPC revealed this online. Watch Video Below
Buhari Vows To Tackle 77% Rise In Crude Oil Theft
Politics

Buhari Vows To Tackle 77% Rise In Crude Oil Theft

President Muhammadu Buhari, has vowed to bring crude oil theft to its kneels by looking at practical solutions to the menace. The President gave the assurance at the ongoing 24th World Energy Congress (WEC) in Abu Dhabi, United Arab Emirates on Tuesday. Buhari’s pledge may not be unconnected with the 77 per cent rise in oil pipeline vandalism as contained in the June monthly report of the Nigerian National Petroleum Corporation (NNPC) with 106 pipeline breaches in June, up from just 60 in May. Represented by the Minister of State for Petroleum Resources, Chief Timipreye Sylva, Buhari said the Federal Government would deliver Final Investment Decisions (FIDs) on at least four key projects within the nation’s oil and gas industry by the end of last quarter this year. He said his vision w...
Border Closure Crashes Prices Of Petrol, Diesel
News

Border Closure Crashes Prices Of Petrol, Diesel

The Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has disclosed that following the closure of the border, petrol now sells for N144 per litre, showing that the closure has blocked smuggling of petrol to the neighbouring countries. Rewane said the development showed that part of the nearly 60 million litres of petrol said to be consumed daily in Nigeria were smuggled to the neighbouring countries. He also revealed that diesel price has also crashed to N210 per litre. Rewane, disclosed this in a report he presented at the monthly Lagos Business School’s executive breakfast meeting for September, obtained at the weekend. Confirming the drz̄op in petrol smuggling, the Group Managing Director of the Nigerian National...
Refineries Lost N77.15bn In Six Months – NNPC
News

Refineries Lost N77.15bn In Six Months – NNPC

Federal Government-owned refineries located in Port Harcourt, Kaduna and Warri lost N77.15bn in the first six months of the year, the Nigerian National Petroleum Corporation has said. The refineries posted a loss of N68.10bn in the same period in 2018, according to the NNPC data obtained by our correspondent on Monday. The Port Harcourt Refining Company has two refineries, while the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company have one each. The refineries have a combined installed capacity of 445,000 barrels per day but have continued to operate far below the installed capacity for many years. They lost N8.362bn in January; N10.26bn in February; N16.04bn in March; N11.44bn in April; N13.63bn in May, and N17.42bn in June. Kad...
House Of Reps Summons CBN, NNPC, Others
Politics

House Of Reps Summons CBN, NNPC, Others

The House of Representatives has summoned heads of four government agencies to appear before it. The agencies include the Central Bank of Nigeria (CBN), Nigeria National Petroleum Coperation (NNPC), Department of State Services (DSS) and the Nigerian Customs. The decision followed a resolution by the House Committee in charge of these agencies. Addressing newsmen on Thursday, in Abuja, Chairman of the Committee, Hon. Yusuf Buba, said the agencies are to appear before the House on Monday, August 19, 2019. According to him, the Committee resolved to take the action as the Chief Executives failed to honour the invitation to appear before it for an investigative public hearing. The public hearing was on the need to determine why the Warri, Port Harcourt, Calabar, Onne and On...
Don’t Drag NNPC To Politics Under Freedom Of Information Law, Kyari Warns
Politics

Don’t Drag NNPC To Politics Under Freedom Of Information Law, Kyari Warns

The Nigerian National Petroleum Corporation (NNPC) has urged the public to be wary of attempts to drag the corporation into politics in the guise of requests for information under the Freedom of Information law. The Group Managing Director of the Corporation disclosed this in a statement signed by Ndu Ughamadu, the spokesman for the corporation, in Abuja on Tuesday. Kyari made the call during a courtesy visit by the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Waziri Adio, to the NNPC Towers. He said that though the corporation was committed to transparency and accountability to the Nigerian people, a line must be drawn between genuine requests for information and malicious attempts to drag it into politics. He said: “As you are aware, s...
NNPC To Supply 10% Of India’s Crude Demand
News

NNPC To Supply 10% Of India’s Crude Demand

The Nigerian National Petroleum Corporation (NNPC) on Thursday expressed its readiness to maintain the supply of 10 per cent of India’s crude oil demand in the face of competing demand for the product from other countries. The Group Managing Director of the NNPC, Mele Kyari made the disclosure during a visit by the Indian High Commissioner to Nigeria, His Excellency Abhay Thakur. The GMD stated that Nigeria, through the Corporation, would continue to support India’s energy security, adding that the recent Memorandum of Understanding in the area of energy between Nigeria and India would be consummated to further strengthen the bilateral relations between the two countries. Mallam Kyari stated that NNPC was desirous of growing the energy cooperation with India and that it was ti...
Disregard Rumour Of Impending Hike In Petrol Price – NNPC
News

Disregard Rumour Of Impending Hike In Petrol Price – NNPC

The Nigerian National Petroleum Corporation on Thursday advised motorists and other petroleum product consumers to disregard the trending rumour of a planned hike in the pump price of Premium Motor Spirit, popularly known as petrol. It explained that the statement of the corporation’s Group Managing Director, Mele Kyari, at the National Assembly on Wednesday did not suggest any plan to increase the price of the white product. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, clarified that what the NNPC GMD stated during his engagement with the Senate President, Senator Ahmed Lawan, was that the price of petrol was abysmally low in Nigeria compared to what obtained in neighbouring West African countries. Ughamadu noted that Kyari had observed at the even...