Oil & Gas

The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion. In a world press conference held…

Story by: Abiodun Folarin    Nigerian National Petroleum Company Limited (NNPC Ltd.) has reacted to report that it  is indebted to international oil traders to the tune of $6.8 billion and that it has not remitted revenues to the Federation Account since January, among other allegations, saying they were not…

Ahead of the expected commencement of petrol release to Nigeria’s market this month, Dangote Petroleum Refinery has reacted to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published by a national newspaper of Tuesday August 13,2024, saying it was a mere speculation. A statement by Anthony Chiejina, Group Chief Branding and…

The Group CEO of NNPC Ltd., Mr. Mele Kyari, has called on the military to sustain the war against crude oil theft and pipeline vandalism saying the current onslaught against the menace has yielded improved growth in the nation’s crude oil production. Kyari made this appeal when he received in…

The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari has said the company has not breached any of the enabling laws guiding its dealings with partners, hence should be counted out of any claims of economic sabotage. Kyari, who was addressing the Senate Ad-Hoc Committee investigating alleged economic…

By Abiodun Folarin The Senate has raised concern over 1.5 billion dollars approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result. Sen. Opeyemi Bamidele, Chairman, Senate Ad Hoc Committee to Investigate the Alleged Economic Sabotage in the Nigerian Petroleum Industry, raised the…

The NNPC Ltd has announced the introduction of Utapate crude oil blend, a new crude oil grade into the international crude oil market. A statement by Olufemi O. Soneye, Chief Corporate Communications Officer NNPC Ltd said, from Oil Mining Lease (OML) 13, fully operated by NEPL, NNPC Ltd’s upstream subsidiary,…

Seplat Energy Plc, foremost Nigerian independent energy company, says it is rising to the challenge of energy deficit in Nigeria through its new critical projects, which are capable of taking the company’s gas processing capacity to 850 Million standard cubic feet per day (MMscfd) consolidating the company’s position as a…

*Demarketing of a company by a regulator that it is supposed to protect it, is very unfortunate – Dangote *Urges National Assembly to test all available products from Standard laboratory to disclaim NMDPRA’s assertions *This remarkable achievement does not merely reflect corporate success; it symbolises national pride – Rt. Hon.…

The National Assembly has thrown its weight behind NNPC Limited’s ongoing efforts to boost Nigeria’s crude oil production and grow its reserves, saying it will consider stiffer consequences for crude oil thieves and vandals of the nation’s critical hydrocarbon infrastructure. This was made known when the National Assembly’s Joint Committee…