Tag: NNPCL

Tompolo Talks Tough As Protesters Attack 28,000bpd Facility

Ganiyu Amodu

Angry Itsekiri protesters, on Wednesday, shut down a 28,000 barrels-per-day oil facility in Ugborodo Community, Warri South-West Local Government Area. The action was in protest against what the youths described as a biased ward delineation report released by the Independent National Electoral Commission. The protesters accused INEC and its “collaborators” of orchestrating an ethnic cleansing agenda aimed at marginalising the Itsekiri people. They also warned that any attempt to use the pipeline surveillance contract awarded to High Chief Government Ekpemupolo, popularly known as Tompolo, would be resisted if perceived to…

Read More

‘Naira-for-Crude Still In Effect,’ Govt Says After Meeting With Dangote Officials

Ganiyu Amodu

The Nigerian government has declared that the naira-for-crude sale deal with Dangote Refinery and other local refineries, facilitated through the Nigerian National Petroleum Company Limited, NNPCL, remains effective. The Technical Sub-Committee on the Crude and Refined Product Sales in Naira Initiative gave this update in a statement on Wednesday after meeting with stakeholders on Tuesday. The committee clarified that the naira-for-crude deal is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining, bolster energy security and reduce reliance on foreign exchange in…

Read More

Tinubu Make Four Fresh Appointments Into NCDMB Governing Council

Ganiyu Amodu

President Bola Ahmed Tinubu has approved the nomination of four new members to the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB), reinforcing the board’s capacity to drive local content growth in Nigeria’s oil and gas industry. This was contained in a statement on Thursday by Special Adviser to the President on Information and Strategy, Bayo Onanuga. The new members include Mr. Olusegun Omosehin from the National Insurance Commission (NAICOM) and Engr. Wole Ogunsanya of the Petroleum Technology Association of Nigeria (PETAN). Also appointed are Mazi Sam…

Read More

Ekpo Hails NNPCL, Private Sector Partnerships On Mini LNG Projects

Ganiyu Amodu

… Lauds Gas Sector Transformation Under President Tinubu’s leadership   Nigeria’s gas sector has witnessed significant transformation under the administration of President Bola Tinubu, according to the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo. Speaking yesterday at the Nigerian International Energy Summit in Abuja, Ekpo highlighted the substantial progress made in gas infrastructure development, policy reforms, gas utilization, and domestic initiatives, marking a remarkable turnaround for the sector. A statement by the Minister’s spokesman, Louis Ibah, quoted him as saying: “The Federal Government is attracting investment in…

Read More

Feedback For Farooq’s Fallacy, By Emeka Okonta

Emeka Okonta

In this age and century, Mr. Kperogi, based on gossip and hearsay he claimed he had with his “friend,”is now advocating not competence, not experience, but ethnicity as a major consideration for anyone who should head an agency that will regulate an industry with active participation by Royal Dutch Shell, American oil multinationals like ExxonMobil and Chevron, France-headquartered TotalEnergies, Italian Agip among UK stock exchange-listed oil giants like Seplat and others.   “I haven’t independently confirmed the accuracy of this claim” is one of the many clauses used by Mr.…

Read More

Reduce Cooking Gas Price, Stop Product’s Export, Minister Orders NMDPRA, NNPCL

ADEOLA YUSUF

LPG prices have continued to fluctuate, recently soaring to N1,500 from an average of N1,100 – N1,250 per kg Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has expressed deep concern over the continuous increase in the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas in the country. Recall that in a bold move to tackle the soaring price of cooking gas, the Gas Minister had established a high-level committee in November 2023, led by the Authority Chief Executive of the Nigerian Midstream Downstream Petroleum…

Read More

Oando Exited OVH Three Years Before NNPC Retail Buy Out, By Femi Awoyemi

ADEOLA YUSUF

“How a key investor (who also happens to be a business associate of a former Vice President) sought to exit its investment in the ConocoPhillips at that time when Oando was seeking to raise funds to invest in the transaction, for which it later got entangled with the SEC,” Chief Executive of Proshare Limited offers independent views on the allegation made by former VP Atiku Abubakar   There is no equivalence with evidence in the financial, business, and economic space, as it is done in the political space. Records exist…

Read More

How NNPCL’s N2.1tn Dividend, N2.6tn Tax’ll Lessen FG’s Financial Burden – Chukwu

Aliyu Aliyu

‘Historic profit before tax of N5.98tn,’ Cowry Assets’ CEO underscores key points in NNPCL 2023 financial books     The Chief Executive Officer of Cowry Assets Management Ltd, Jonhson Chukwu has said that the dividend and taxes paid by the Nigerian National Petroleum Company Ltd will reduce the financial burden of the federal government. Chukwu said this in response to the record performance of the state-owned company after it released its financial accounts for 2023. It has been reported that the company made N3.297tn net profit for 2023 which surged…

Read More

NNPCL, TotalEnergies Ink $500m Gas Deal

Abibat Babalola

The Nigerian National Petroleum Company Limited, NNPCL and TotalEnergies are working towards investing $550 million to develop a gas processing facility in Rivers State. The aim is to boost exports and domestic supplies. The investment according to reports would include a gas processing plant and a pipeline. The report quoting an unarmed NNPCL source said an announcement would be made this week. The gas processing facility will be built on the Ubeta onshore gas field, jointly owned by Total and NNPC, and will supply gas to the Nigeria Liquefied Natural…

Read More

OML 13: NNPCL, NOSL Hit First Oil, Ramp Output To 40,000 bopd

Ganiyu Amodu

The Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd.) and Natural Oilfield Services Ltd. (NOSL) have announced the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State. The NNPC E&P Ltd. is an NNPC Ltd’s flagship upstream subsidiary, while NOSL is a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO). Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., made this known in a statement on Sunday. Soneye said the production, which commenced on May 6 with 6,000…

Read More