The House of Representatives today inaugurated an Ad-Hoc Committee to investigate alleged under-remittance of revenue by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account. The 12-member committee, which is headed by Hon. Chukwuma Onyema, is mandated to ascertain the volume of the nation’s oil production as against the projected volume in the budget, […]
The Nigerian National Petroleum Corporation (NNPC) is considering the option of raising funds from the capital market to meet its financing obligations on new projects, including the NNPC/NAOC JV Idu-Re-development, South Gas Project, North Gas Project and Central Gas Project. The corporation’s Group Managing Director, Dr. Maikanti Baru, gave this hint at the ongoing Nigeria […]
State Governments in the country have maintained their position over the discrepancies in the Nigerian National Petroleum Corporation (NNPC) report to the Federation Accounts Allocation Committee (FAAC) meeting last Wednesday, insisting that the corporation must remit N20 billion to the account. The position of the governments was canvassed at the weekend by the finance commissioners […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, today disclosed that the corporation had signed over $3 billion oil and gas development pact to grow the nation’s hydrocarbon resources industry. He gave this hint while speaking on investment in Nigeria’s oil and gas industry at the ongoing 7th Organisation […]
The Minister of State for Petroleum, Dr. Ibe Kachikwu, has directed the Nigerian National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCo) to commence today the tendering process for the execution of the $10 billion Bonga South West/Aparo (BSWA) deepwater project. The minister’s directive followed the April 17, 2018 meeting between President […]
The Nigerian National Petroleum Corporation (NNPC) has announced a new environment policy aimed at enhancing its waste management practice and reducing pollution across its areas of operations. The Group Managing Director of the Corporation, Dr. Maikanti Baru, made the disclosure at this year’s World Environment Day celebration held at the NNPC Towers in Abuja. Represented […]
The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it was spending N774 million daily as subsidy on the 50 million litres of Premium Motor Spirit (PMS) consumption nationwide. The corporation, which described the expenditure as under-recovery, attributed the daily cost to the proliferation of filling stations in communities located around land and coastal borders. […]