Tag: Dr. Kennie Obateru

NNPC Oil Exports Receipt surges 16.28% to $120.49m in September

Efe Wellington

    The Nigerian National Petroleum Corporation (NNPC) has raked in a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020. A press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru, stated that the figure is contained in the September 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR). The $120.49 million crude oil and gas export receipt is a 16.28 per cent improvement on the $100.88 million posted in August…

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NNPC alters revenue streams as OPEC+ quota cut weighs-in on revenue

Efe Wellington

    The Nigerian National Petroleum Corporation (NNPC) has announced a major shift in focus to gas, condensate and other revenue streams to tackle the revenue challenge arising from the OPEC+ production cut arrangement. The corporation stated this in a statement to Platforms Africa quoting its Group Managing Director, Mallam Mele Kyari, to have informed an ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021 of the plan. “NNPC reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its…

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Era of $30/bbl production cost gone, NNPC tells foreign, local oil firms

Efe Wellington

  The Nigerian National Petroleum Corporation (NNPC) has declared to Oil producers in the country that the era at which they are allowed to spend $30 to produce a barrel of crude oil no longer exist. NNPC has earlier begun aggresive action to get oil producers in the country to produce at $10 per barrel and the Group Managing Director of the Corporation, Mallam Mele Kyari, stated on Thursday that the COVID-19 hangover on Nigeria’s oil economy, which dipped oil price in the region of $30 – $40 per barrel,…

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NNPC stocks, flaunts 2.9bn Litres of Petrol for Yuletide

Efe Wellington

  . GMD NNPC discourages panic buying over NUPENG strike threat The Nigerian National Petroleum Corporation (NNPC) on Tuesday dismissed mounting insinuation of possible scarcity of petroleum products following ongoing disagreement between the Federal Government and members of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN). The disagreement is on the implementation of the Integrated Payroll and Personnel Information System (IPPIS). Dr. Kennie Obateru, Group General Manager, Group Public Affairs Division of the Corporation, quoted Mallam Mele Kyari as saying, in a release, that the industrial action embarked upon…

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How NNPC’s Oil Exports surged by 64.84%, hit $139.50m in One Month

Efe Wellington

  The Nigerian National Petroleum Corporation (NNPC) has given details of how it recorded a 64.84 per cent increase in crude oil exports sale in August to post $139.50 million revenues for the month. The Corporation had in its 61st edition of Monthly Financial and Operational Report (MFOR) for the month of August 2020, indicated a total Crude Oil & Gas export sale of $139.50 million; increasing by 64.84 per cent compared to the previous month. Group General Manager, Group Public Affairs Division of NNPC, Dr. Kennie Obateru, gave a…

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How notorious Otedola Bridge Petrol Tanker Explosion Started – NNPC

Damola Oyede

  Corporation commiserates with Victims, Lagos Govt over Saturday morning petrol tanker explosion on the notorious Otedola bridge The Saturday morning petrol tanker explosion on the notorious Otedola bridge in Lagos, Nigeria’s commercial capital, occurred when a container truck loaded with fabric experienced a brake failure, the Nigerian National Petroleum Corporation (NNPC) declared on Saturday. Quoting a report on the accident, the Corporation noted that the container truck loaded with fabric “collided with a 33,000ltrs fuel tanker loaded with Premium motor spirit (PMS), belonging to a downstream operator, the impact…

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NNPC Terminates Multi-million Dollars Contracts for ailing Refineries

Damola Oyede

  Nigerian workers’ unions rule out strike, demand consultations on 850 workers affected through contracts’ terminations   The Nigerian National Petroleum Corporation (NNPC) has terminated multi-million dollars contracts on three ailing refineries, including the ones for support services at the Kaduna refinery, which made zero revenue but spent N64 billion in 2018. This effort, Platforms Africa gathered exclusively, was a part of reorganisation of the operations and repositioning of the refineries books that have hitherto come under several attacks by transparency groups. Oil workers’ unions in the country on Monday…

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How NNPC’s gas output surged to 218.37bn bcf in March

Efe Wellington

  The Nigerian National Petroleum Corporation (NNPC) has given details of how its natural gas production peaked at 218.37billion Cubic Feet (BCF) in March 2020 despite heavy burden novel Coronavirus placed on global oil and gas industry at the period. The output translated to an average daily production of 7493.65Million Standard Cubic Feet (mmscfd). This was contained in NNPC Monthly Financial and Operations Report for March, 2020, a release by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated. The release said 3,119.89BCF of gas was…

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