Tag: NNPC

NNPC, Sahara Group invest $300m in gas

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited (NNPC) and leading energy and infrastructure conglomerate, Sahara Group have taken delivery of two 23,000 CBM Liquefied Petroleum Gas (LPG) vessels at the Hyundai MIPO Shipyard in Ulsan, South Korea, with plans to add 10 vessels in 10 years to enhance Africa’s transition to cleaner fuels. The new vessels, MT BARUMK and MT SAPET have increased NNPC and Sahara Group’s joint venture investment to over $300million,approaching the JV’s $1billion gas infrastructure commitment by 2026. The fleet previously comprised MT Sahara Gas and MT Africa…

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PIA Takes Effect in Upstream Oil Sector Regulation – Sylva, NNPC

ADEOLA YUSUF

“If we must continue to be relevant at the global stage, we must, in designing any regulation, put in focus how we can balance the energy base-load for Nigeria.   The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its activities for the week with a move by stakeholders to begin the implementation of the Petroleum Industry Act (PIA) in the upstream sector of the nation’s oil and gas industry. Minister of State for Petroleum Resources, Chief Timipre Sylva said at a 2-day upstream stakeholders’ forum organised by the Nigerian…

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BREAKING: NNPC JV, Dangote Ink Multi-million Dollars Gas Supply Deals

ADEOLA YUSUF

The deals involving the JV of NNPC, Shell, ENI, and Total will deliver 70million scuf of gas daily to Dangote Fertiliser The Joint Venture (JV) consisting of the Nigerian National Petroleum Company (NNPC) Limited, Shell, Total and ENI, has signed a multi-million dollars deal to supply 70 million standard cubic feet (scuf) of gas to Dangote Fertiliser Company. The signing which took place at the on-going Nigeria International Energy Summit (NIES) was attended by President of Dangote Group, Alhaji Aliko Dangote; Group Managing Director of NNPC, Mallam Mele Kyari; Country…

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NNPC, MOMAN, DAPMAN Team Up Against Fuel Queues

ADEOLA YUSUF

The Major Oil Marketers Association of Nigeria (MOMAN) has assured the Nigerian public that its members are working with the regulatory Authorities and the Nigerian National Petroleum Company Limited (NNPC) towards a resolution of the current fuel crisis. Platforms Africa reports that a statement signed by MOMAN Chairman, Olumide Adeosun, stated that MOMAN subject-matter experts are active contributors to the technical and commercial committees set up by the regulatory Authorities to re-stock fuel supplies, resolve the blending of contaminated products and identify losses suffered by customers, operators and third parties.…

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NNPC denies funding Buhari, GEJ elections with $1.2m oil trader’s bribes

ADEOLA YUSUF

That the NNPC funded elections with $1.2m bribes from oil trader is “not true, and I think that is obvious if you read the story with an open mind,” Group General Manager, Group Public Affairs Division, NNPC, Mr Garba-Deen Muhammad, however, has declared.   The Nigerian National Petroleum Corporation (NNPC) has debunked the allegation that it funded the 2015 and 2019 elections with $1.2 million bribes from oil traders. Platforms Africa reports that the two elections were conducted and contested by then incumbent Goodluck Jonathan and President Muhammadu Buhari. Buhari…

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NNPC, CMEC, GE ink multi-million dollars power deal

ADEOLA YUSUF

The deal is to provide an emergency power to Maiduguri, Northeast Nigeria, after series of bombing by Boko Haram insurgents disconnected the city from the national grid.   A significant step towards redeeming the pledge by the Nigerian National Petroleum Corporation (NNPC) to intervene in the perennial electric power supply challenge in Maiduguri, Borno State, was taken Tuesday with the execution of the Engineering, Procurement, and Construction (EPC) and Equipment Procurement contracts for an Emergency Power Project in Maiduguri. Platforms Africa reports that the deal is to provide an emergency…

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Hurdles as Nigeria NASS Passes 20-yr old Oil Bill +Effects on NNPC, N’Delta

ADEOLA YUSUF

    NNPC’s Equity Sale through IPO, N280 per litre petrol price through subsidy removal, award of 3% development fund and gas flaring fines to host communities and others are details of the bill provided in this report. Beyond these, Platforms Africa highlights reasons investors and Nigerians can not rejoice yet.   Nigeria’s legislators on Thursday ended a 20-year foot-dragging on Petroleum Industry Bill (PIB) at they approved the long-delayed oil and gas law that aims to, among other thngs, transform the Nigerian National Petroleum Corporation (NNPC) to a profit-driven…

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How Winners of 3 Nigerian Refineries’ O&M contracts’ll emerge – NNPC

ADEOLA YUSUF

  Do not bid for refineries‘ O&M contracts if you have any of the following baggage, NNPC tightens the noose on contractors with tax default, criminal records   The Nigerian National Petroleum Corporation, NNPC, has given details of how winners will emerge in a bidding process for the provision of operations and maintenance (O&M) services at three petroleum refineries in Nigeria. The select refineries are Port Harcourt Refining Company (PHRC), Warri Refining & Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC).   READ ALSO: Protest greets Nigeria’s $1.5bn…

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NCDMB, NNPC, Brass Fertilizer sign Shareholders Agreements on Methanol Project

ADEOLA YUSUF

The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), Brass Fertilizer and Petrochemical Company Limited and DSV Engineering on Tuesday signed two key agreements for the construction of 10,000 tonnes per day methanol plant and the 500 million standard cubic feet per day gas processing plant in Odeama, Brass, Bayelsa State. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote signed for the Board, while the Chief Operating Officer, Gas & Power, NNPC, Mr. Usman Yusuf and the Managing Director of BFPCL, Chief Ben Okoye…

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JUST IN: Buhari makes U-Turn, orders DPR to return revoked Addax oil blocks

ADEOLA YUSUF

  Nigerian President who doubles as oil minister restores ownership of OML 123, 124, 126 and 137 to NNPC, JV partner with Addax President Muhammadu Buhari has ordered the Department of Petroleum Resources (DPR) to retract the letter of revocation of four oil blocks earlier given to Addax Petroleum, a company wholly owned by Government of the People’s Republic of China. The President also approved the restoration of all the OMLs 123, 124, 126 and 137 earlier revoked to the Nigeria National Petroleum Corporation, NNPC which is in production sharing…

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