Tag: Mallam Mele Kyari

Nigeria’s N4.5trn Annual Petrol Importation’ll End by 2023 – NNPC

ADEOLA YUSUF

The Nigerian National Petroleum Company (NNPC Ltd.) has said the importation of Premium Motor Spirit, otherwise known as petrol, into the country will be stopped by mid-2023. Platforms Africa reports that Nigeria spent a total of N4.56 trillion on the importation of Prwmium Motor Spirit (petrol) in 2021 about 128% higher than the N2 trillion spent on fuel importation in 2020. The Group Chief Executive Officer of NNPC Ltd., Mele Kyari, disclosed this at the State House Ministerial Briefing organised by the Presidential Communications Team in Abuja on Tuesday. A…

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Nigeria Eyes $500bn, Renews Offshore Deals With Shell, ExxonMobil, Chevron

ADEOLA YUSUF

OMLs 128 – 138, full list of five oil mining leases (OMLs) and what the MDs of Shell, ExxonMobil, Chevron said about their Production  Sharing Contracts (PSCs) renewals    The Nigerian National Petroleum Company (NNPC) has executed fully termed agreements for the renegotiated Production Sharing Contracts with contractors in five Oil Mining leases, Platforms Africa reports. This, which came only one month after it had transited into a fully limuted liability company, is, according to the Nigerian government, a step towards unlocking over $500 billion in revenue from its oil…

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NNPC To Construct 950 Retail Outlets In 5 Months – Kyari

Abibat Babalola

How PIA long wait cost Nigeria $50bn worth of investments – Sylva The Chief Executive Officer of Nigerian National Petroleum Company (NNPC), Mele Kyari, has disclosed plans to construction 950 more fuel retail outlets as part of the company’s comprehensive expansion plan before 2023. Kyari announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country. Speaking during the unveiling of the company on Tuesday, he assured stakeholders and the global energy community that the new company was endowed with the best…

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NNPC Sets Up Anti-Graft Unit, Blocks Industry’s Corruption Loopholes

ADESUPO OSOSANYA

The Nigeria National Petroleum Corporation (NNPC) has created an anti-corruption unit within the corporation that would begin to checkmate contracts and transactions processes in oil and gas industry. This is with an aim to ensure transparency and accountability are embraced in the sector. It said that creation of the unit was part of NNPC’s commitment towards combating corruption across the oil and gas sector and that the anti-graft desk would ensure transparency and accountability between regulatory bodies, operators as well as players in the industry.   READ ALSO: How EFCC…

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Nigeria inks multi-million dollars gas deals with SEEPCO

Efe Wellington

  Here is NNPC’s account of how the deals including  125mmscfd gas supply to OML 143 plants would unlock 1.2tcf of country’s gas reserves.   The gas development and commercialization programme of the Nigerian National Petroleum Corporation (NNPC) received a boost Thursday with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC and its partner, Sterling Oil Exploration and Production Company (SEEPCO). A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, disclosed that the project would boost the…

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Kyari: Buhari, only Nigerian President that has never interfered in NNPC

Efe Wellington

  Nigerian President Muhammadu Buhari remains the only president that has never interfered in the operations of the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of the NNPC, Mallam Mele Kyari, who, according to a press release,  declared this in Sokoto, Northwest Nigeria, while delivering the Usmanu Danfodiyo University’s 2021 First Quarter Public Lecture Series, commended President Buhari for giving the Corporation’s Management free-hand to deliver on its mandate. Speaking on the topic, “Navigating Energy Transition and the Imperatives of University-Industry Collaboration,” Kyari added, according to a statement issued…

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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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