The Federal Government has announced a significant milestone in Nigeria’s journey towards a deregulated market structure for Premium Motor Spirit (PMS). The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this today in a press statement whichhe personally signed and made available to the Ministry’sInformation and Public Relations Unit...
Category: Energy
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NNPC Ltd/TotalEnergies’ $550m Ubeta Upstream Gas Project Takes Off
The $550 million upstream gas project involving TotalEnergies and NNPC Ltd for the Ubeta field’s development has begun to move forward.The presidency declared on Tuesday. At the first US-Nigeria Strategic Energy Dialogue, which was organized by the US State Department in Washington, DC, Special Advisor to the President on Energy Olu Verheijen revealed this.Held in...
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NNPCL Foundation Supplies Relief Items To The Borno State Government To Assist Flood Victims.
Relief supplies have been given to the recent flood victims in Borno State by NNPC Ltd. through its Corporate Social Responsibility (CSR) division, NNPC Foundation. L-R: Executive Vice President, Business Services, NNPC Ltd, Mr. Danladi A. Inuwa (who represented the GCEO, Mr. Mele Kyari) and Managing Director, NNPC Foundation, Mrs. Emmanuella Arukwe condole with the...
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NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply
The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.The estimated prices are based on negotiated terms between NNPC and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line...
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NNPC Ltd and challenges in the oil sector: Banire misconceives the facts, promotes biased views
By Olufemi Soneye In the face of the challenges in the oil sector, particularly the current tightness in the supply of petrol, it has become fashionable to blame the national oil company, the Nigerian National Petroleum Company Ltd (NNPC Ltd), for everything. Last week, it was Prof. Pat Utomi who railed and fumed at the...
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NNPC Ltd/Chevron JV Concludes Conversion of Assets into PIA Terms
…As Partners Eye JV’s 165,000 bopd Oil Production Target by Dec 2024 In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have concluded the conversion of five of its...
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Free market forces determine PMS prices —NNPC Ltd.
According to the Nigerian National Petroleum Company Limited (NNPC Ltd), one of the main factors affecting the volatility of Premium Motor Spirit (PMS) prices—which are set by the Petroleum Industry Act (PIA) and are subject to unfettered free market forces—has been the lack of liquidity in foreign exchange (forex). The Executive Vice President of Downstream,...
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Warri/Kaduna Refinery: NNPC Ltd Targets Sustained Production with New Maintenance & Compliance Measures
The Nigeria National Petroleum Company Limited, NNPC Ltd, is set to ensure sustained production and enhance refining quality at its Warri and Kaduna plants. The global energy player will also be adopting new maintenance and compliance measures, as well as deploying cutting-edge technology solutions. These, according to the Chief Corporate Communications Officer, CCCO, of NNPC...
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Vision First: NNPC Renders Free Eye Care Services to Over 1000 individuals in Ilaje Community of Lagos State.
The NNPC Ltd has flagged off the third edition of the Vision First Programme, as part of comprehensive community-focused healthcare outreach targeted at the Ilaje community and its environs in Bariga, Lagos State. The Vision First programme is a continuation of NNPC Ltd/ SNEPCo Production Sharing Contract (PSC) commitment to advancing health and well-being within its...
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NNPCL Remains Commercially- Focused and Profit-Driven Company, Managed By Professionals, Kyari Discards Paul Ibe’s Allegations.
As reported from a statement issued by the Nigerian National Petroleum Company Limited, NNPLC which in cleared terms rejected, discared and challenged a statement accredited to Mr. Paul Ibe’s signature, a Media Adviser to the former Vice President, Alhaji Atiku Abubakar. The former Vice President was quoted to have lamented “the criminal hijack of the...