Following remarkable efforts of the President Bola Tinubu-led administration to attract foreign investments into key sectors of the nation’s economy at the just concluded Conference of Parties (COP28) in Dubai, the Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection […]
The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday told lawmakers in the National Assembly that the projections on crude oil production and price benchmark used for the 2024 budget computation were realizable. The Group Chief Executive Officer (GCEO) of the company, Mr. Mele Kyari, gave the assurance on Wednesday during an interactive session with […]
The Nigerian National Petroleum Company Limited (NNPCL) reported on Tuesday that 127 crude oil thefts were recorded in the nation’s hydrocarbon resources industry within seven days. The state-owned oil company, in its weekly report on the “War On Crude Oil Theft”, disclosed that it uncovered 51 illegal refineries, 29 illegal connections and discovered eight vessels […]
Apparently worried by the risks of the plans by the Nigerian National Petroleum Company Limited’s (NNPCL’s) to commence pricing crude supplies against dated Brent crude from next year, oil traders have opposed the proposed pricing regime, especially based on the potential negative implications for their investments in the oil industry. The state-owned company had on […]
The Nigerian National Petroleum Company Limited (NNPCL) has indicated its plans to start pricing crude supplies against dated Brent crude effective from 2024. Based on a news report from Bloomberg on Monday, NNPCL plans to change how it prices its crude cargoes starting in January 2024. A company circular mentioned by the news medium outlined […]
The Nigerian National Petroleum Company Limited (NNPCL) reported via its official X account on Tuesday that 131 crude oil theft incidents were recorded in the oil facilities within 7 days of operations in the nation’s upstream subsector. According to the report, during the one week period, there were 24 illegal connections, 43 illegal refineries, 17 […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported 144 crude oil theft incidents in seven days. The company, in a statement on the incidents issued on Tuesday, indicated that the incidents recorded between October 21 and 27 happened in various locations, including Tori and Ogborode in Delta; Olodiama, Oporomor IV, and West Boma both in […]
The Nigerian National Petroleum Company Limited (NNPCL) has assured motorists and other fuel users in the country of adequate product to meet their demands amid resurgence of queues in filing stations in major cities nationwide. While advising motorists and other users of the commodity not to engage in panic buying, the company attributed the recent […]
The Acting Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has allayed business owners’ fears about the moves by the federal revenue agency to increase the country’s tax-to-GDP ratio to 18% from 10.86%, saying attaining the target will not necessarily involving raising tax rates. Adedeji, who restated the President Bola Tinubu-led administration’s […]
The Nigerian National Petroleum Company Limited (NNPCL) has reported that between October 7 and 13, 205 crude oil theft incidents were recorded across oil-producing locations in the Niger Delta region. The company gave these figures during its weekly ‘Energy and You’ series on the NTA News Network. According to the report, there were various illegal […]