Tag: NNPCL

NNPCL, Partner Boost Oil Production With 20,000bpd At OML 85

Ganiyu Amodu

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Friday disclosed that it has commenced oil production at OML 85, with its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P). OML 85, which is operated by First E&P is located on Madu Oil Field in shallow waters offshore Bayelsa State. It is expected to add an average of 20,000 barrels per day. A statement by NNPC Limited Spokesman, Olufemi Soneye said the achievement “is a testament to the commitment of the President Bola Tinubu administration to…

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Kyari, NNPCL Delegation Take Investors’ Hunt To Houston

Ganiyu Amodu

▪️ Why we are optimistic high-profile talks with energy titans, business allies at CERAWeek will yield results – Kyari   At the commencement of the 2024 CERAWeek Conference in Houston, United States, Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd. and other members of the Nigerian delegation engaged in strategic discussions with business partners and prominent figures in the energy industry. The 2024 edition of the conference is centered around the theme of “Multidimensional Energy Transition: Markets, Climate, Technology, and Geopolitics.” According to…

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‘No Supply Issue, Don’t Panic,’ NNPCL Speaks On Fuel Queues

Ganiyu Amodu

The Nigerian National Petroleum Company Limited has said that Nigerians should not panic as regards fuel supply in the country, stating that there is no supply issue. “The recent tightness experienced in certain areas was due to a brief distribution issue in Lagos, which has since been resolved,” the NNPCL stated. The NNPC Limited made this statement against the background that queues have started building up in Lagos. Also, some oil marketers are saying that they don’t understand what is happening because they have not been able to get supplies…

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How 90 Lecturers Benefited From Our Exchange Programme – TotalEnergies, NNPCL

Ganiyu Amodu

Over 90 lecturers from Nigerian universities have so far participated and benefited from the TotalEnergies’ Empowering The Teachers (ETT) fellowship programme being undertaken in collaboration with the Nigerian National Petroleum Company Limited (NNPCL) and the Massachusetts Institute of Technology (MIT), United States. The ETT fellowship programme launched in 2013, was aimed to further improve the quality of teaching and learning of science and engineering in Nigerian universities through exposing the participants to the innovative and cutting-edge teaching methods used at the MIT to enable them mould students into industry-ready products.…

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Why, How Petrol Price Hit N617 Per litre – Marketers

ADEOLA YUSUF

“(We) extend our deepest empathy to all citizens during this time.” – 11 Plc, TotalEnergies,  Conoil, ardova plc, MRS   The international price of crude oil and the exchange rate constitute the largest components of the cost build-up for Premium Motor Spirit (PMS) otherwise known as petrol accounting for over 80 percent. The Major Oil Matketers Association of Nigeria, which said this during a virtual press conference on Wednesday, added the remaining 20 percent includes statutory dues, distribution costs, and margins. Platforms Africa reports that the Nigerian National Petroleum Company…

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Nigeria Dwindles Multi-Billion Dollars Crude Oil Swap Deals – Kyari

Efe Wellington

Nigeria’s state oil firm NNPC Ltd is winding down crude swap contracts with traders and will pay cash for gasoline imports, its chief executive told Reuters, adding that private companies could begin importing petrol as soon as this month. The move is part of new Nigerian President Bola Tinubu’s plans to deregulate the gasoline market and reduce the burden on government finances. Tinubu has already scrapped a costly fuel subsidy, effective from last Tuesday, a decision which tripled petrol prices, angering labour unions who have called for a strike starting…

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N20bn Payment to Ghost Consultants’ Allegation Rocks NNPC

Efe Wellington

. We Welcome House of Representatives Investigation, NNPC says in Statement to Platforms Africa   The Nigerian National Petroleum Company Limited (NNPC) has said that it was aware of the planned probe by the Parliament of allegation it paid N20 billion dollars payment to ghost consultants. The NNPC Ltd, which said this in a statement to Platforms Africa, maintained that it “received with great relief, the resolution of the House of Representatives to investigate allegation of the payment of a huge sum of twenty billion naira to so-called “ghost consultants.”…

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NLNG Anticipates Improved Gas Supply As Crude Transport Stabilises

ADEOLA YUSUF

The Nigeria Liquified Natural Gas, Limited, NLNG, is hoping to receive more gas supply from its suppliers following successes recorded in renewed effort by the Nigerian National Petroleum Company Limited, NNPCL, to combat crude oil theft. The NLNG, said the effort is yielding results with improvement in key crude oil transportation pipelines. The NLNG spokesperson, Andy Odeh confirmed that the success was recorded after NNPC increased surveillance and the fight against oil thieves and vandals. Mourners Weep Over 19 Coffins After Tanzania Plane Crash READ ALSO: 2023: We’ve 600 Pending…

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NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide

ADEOLA YUSUF

Why we acquired OVH downstream assets including reception jetty (ASPM) with 240,000 metric tons monthly capacity, eight Liquefied Petroleum Gas (LPG) plants, three lubes blending plants, three aviation depots, and 12 warehouses – Kyari   The Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy. Speaking at the unveiling of one of the new NNPC Ltd stations formerly Oando in Abuja on Saturday, the Group Chief Executive Officer NNPC Limited, Mele Kyari, said, “The acquisition will bring over…

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