Tag: NNPC

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

Efe Wellington

  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

Efe Wellington

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

Efe Wellington

  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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Nigeria Eyes $8.7bn Investments from Refineries, Pipelines’ Repairs

Efe Wellington

  Mele Kyari: Corporation remains destination of choice for global investors The Nigerian National Petroleum Corporation (NNPC) expects an investment of about $8.7 billion to flow in during the rehabilitation of the Warri Refinery and Petrochemical Company (WRPC), the Kaduna Refinery and Petrochemical Company (KRPC), as well as the revamping of some of its 5,000-kilometre pipelines throughout the country. In a virtual presentation titled: “Accessing Energy Infrastructure Opportunities at the NNPC”, at an event hosted by the United States Department of Commerce, the Group Managing Director of the NNPC, Mallam…

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Afreximbank’s $1bn fund for PH Refinery Rehab, fruit of transparency- Kyari

Aliyu Aliyu

. As NNPC, NEITI Renew Commitment to Deepen Transparency The Nigerian National Petroleum Corporation (NNPC) on Thursday declared that it secured financing agreement for the rehabilitation of the Port Harcourt Refinery by the African Export Import Bank (Afreximbank) as a fruit it reaped from its transparency and accountability. Though the rehabilitation is to gulp $1.5 billion, the financing deals secured from the Afreximbank, Platforms Africa gathered, is $1 billion. Group Managing Director of the NNPC, Mallam Mele Kyari, said while playing host to the management team of the Nigeria Extractive…

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NNPC, partners Ink FID on $3.6bn Brass Methanol Plant, Africa’s largest

Efe Wellington

  NNPC’s helmsman, Mallam Mele Kyari, who promised timely completion for the largest methanol plant in Africa and the first in Nigeria, unveiled how the project would create 35,000 jobs   The Nigerian National Petroleum Corporation (NNPC) says it would do everything within its powers to ensure the timely completion of the $3.6bn Integrated Gas Processing and Methanol Plant in Odioma, Brass Island, Bayelsa State. The Group Managing Director of NNPC, Mallam Mele Kyari, made the commitment at the signing of the Final Investment Decision (FID) on the project which…

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