Initial hopes of the investing public that the proposed successor company of the Nigerian National Petroleum Corporation (NNPC) would go public in line with amended 2021 Petroleum Industry Act appear to have been dashed on Monday as the corporation’s Group Managing Director, Mallam Mele Kyari, said that company may not be ready for an Initial […]
The Senate on Wednesday accused Government Owned Enterprises of worsening the current dwindling revenue situation of the country and accused them of engaging in spending spree instead of remitting the appropriate funds into the federation account. The Chairman of the Senate Committee on Finance, Senator Solomon Olamilekan Adeola, made the allegation on Wednesday at a […]
The Nigerian National Petroleum Corporation (NNPC) reported that it incurred N756.99 billion on fuel subsidy from January to July this year. These figures were contained in the state-owned petroleum company’s operations report for the seven- month period. According to the corporation’s data on fuel importation and subsidy provisions in the financial records, the subsidy provisions […]
President Muhammadu Buhari, who is also overseeing the operations of the Ministry of Petroleum Resources, has announced N287 billion profit after tax (PAT) for the Nigerian National Petroleum Corporation (NNPC) for the 2020 financial year. Buhari , who made the disclosure on Thursday in a statement by his Special Adviser on Media and Publicity, Mr. […]
House of Representatives Committee on Finance has commended the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, for providing detailed explanations on some oil industry issues during an interactive session on the 2022-2024 Medium Term Expenditure and Revenue Framework (MTERF) and Fiscal Strategy Paper (FSP). The Chairman of the House […]
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has charged members of the Board of the corporation’s subsidiary, Greenfield Refinery Limited (NGRL), to explore all options to end the current challenge of petroleum products importation into the country. The GMD gave the charge on Thursday while inaugurating the Board […]
The Senate on Wednesday summoned the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, to appear before it tomorrow to brief the lawmakers and make clarifications on the Petroleum Industry Bill (PIB). The summon, which was made by the Senate President, Ahmad Lawan, during plenary, requires the NNPC boss to […]
The Nigerian National Petroleum Corporation (NNPC) on Tuesday said that its planned acquisition of 20 per cent stake in the $12 billion Dangote Refinery would be funded through borrowing The corporation’s Group Managing Director, Mallam Mele Kyari, who gave this hint during an interview with Channels Television, said that already negotiations were ongoing with some […]
The Nigerian National Petroleum Corporation (NNPC) on Thursday hinted that it was collaborating with the Economic and Financial Crimes Commission (EFCC), security agencies and relevant downstream and upstream stakeholders in the petroleum industry to combat the increasingly worrisome problems of petroleum products’ smuggling and crude oil theft in the country. The corporation’s Group Managing Director, […]
The Nigerian National Petroleum Corporation (NNPC) on Wednesday unveiled plans to focus more on increasing gas and condensate production as a strategic step towards boosting its revenue earnings in the months ahead. The move by the state-owned oil corporation to explore the gas and condensate resources option was sequel to the cut of Nigeria’s oil […]