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

  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

    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

  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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