Oil benchmark to stabilise by April – NNPC


Dr Emmanuel Ibe Kachikwu, OPEC president The Nigerian National Petroleum Corporation (NNPC), said 38 dollars per barrel oil benchmark is feasible by April as projections suggest that prices will go above the benchmark then.

NNPC records N267 billion loss

NNPC Towers, Abuja The Nigerian National Petroleum Corporation (NNPC) has announced a loss of N267.14 billion in its activities in 2015.

FG to save $1bn as NNPC ends crude oil swap


Minister of State For Petroleum Resources and Group Managing Director of the NNPC, Dr. Ibe Kachikwu and the Managing Director of the Pipelines and Products Marketing Company, Mrs. Esther Nnamdi-Ogbue

Direct Sale, Direct Purchase To Replace Crude Swap – Kachikwu


The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has disclosed that the crude-for-products exchange arrangement popularly referred to as crude swap will be replaced by a Direct-Sale–Direct-Purchase (DSDP) arrangement which would take off next month.

CNPP lauds Buhari’s plan to probe NNPC


Plan by President Muhammadu Buhari to probe past financial transactions of the Nigerian National Petroleum Corporation (NNPC) has elicited commendation by the Conference of Nigerian Political Parties (CNPP).

Nigerian Gov’t Removes Kerosene Subsidy | Pegs Price At N83 Per Litre


The Federal Government of Nigeria has on Saturday, January 23, officially ended the payment of subsidy on kerosene, as the price of Household Kerosene (HHK) was hiked from N50 per litre to N83 per litre. Kerosene queue in Nigeria This disclosure was made known in the latest pricing template for

Pipeline Attack: NNPC Shuts Port Harcourt, Kaduna Refineries


The Nigerian National Petroleum Corporation, NNPC, on Wednesday announced the operational shutdown of the Port Harcourt and Kaduna Refineries owing to crude supply challenges arising from recent attacks on vital crude oil pipelines. A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Ohi Alegbe, said

House Of Reps Begins Investigation Of NNPC’s Oil Swap Agreement


The House of Representatives has started investigating the oil swap agreement by the Nigerian National Petroleum Corporation (NNPC). Giving its presentation on Tuesday, the Nigeria Extractive Industries Transparency Initiative (NEITI), represented by the Executive Secretary, NEITI, Ogbonnaya Oji,  told the ad-hoc committee of the House of Representatives on Oil Swap Contracts,

Warri Pipeline Explosion: Army Vows To Arrest Perpetrators


The military says it has begun the deployment of troops in Delta State to apprehend those who attacked oil facilities in the state recently. The Joint Task Force (JTF) described the Friday attack in Warri South-West local government area of Delta State as economic sabotage.

Fuel Crisis: NNPC Set To Build 109 New Mega Stations In Nigeria


In a bid to quell the incessant scarcity of petroleum product and to ensure efficient distribution of fuel across the country, the Nigerian National Petroleum Corporation (NNPC) has concluded plans to build 109 new mega stations in Nigeria. Fuel Crisis: the Nigerian National Petroleum Corporation (NNPC) According to the expansion