By Modupe Gbadeyanka Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has emphasised that his agency is not involved in the collection of signature bonuses (funds) paid by oil companies to the Federal Government upon their successful bid for oil blocks. Mr Baru made this clarification at a hearing of… Continue reading NNPC Does Not Collect Oil Block Signature Bonus, Royalty—GMD
Tag: NNPC
NNPC Prepares Staff for Global Oil Trading
By Modupe Gbadeyanka Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has charged oil traders under the purview of the corporation to sharpen their skills for the challenges ahead as the national oil company seeks to activate its vision of becoming a dominant player in the trading of petroleum products… Continue reading NNPC Prepares Staff for Global Oil Trading
FG Moves to Monitor Funds Generated by CBN, NNPC
By Dipo Olowookere As a way of getting more money to use in reflating the economy, Federal Government has revealed that it will start planning to come up with a holistic budget in the future. Speaking at an event in Abuja on Thursday, Minister of Finance, Mrs Kemi Adeosun, noted that the government will now… Continue reading FG Moves to Monitor Funds Generated by CBN, NNPC
NNPC/Sahara Energy JV Unveil Vessels to Solve Gas Scarcity
By Dipo Olowookere The supply logjam which often impedes stable availability of Liquefied Petroleum Gas (LPG), otherwise called cooking gas, may soon be over. The West Africa Gas Ltd (WAGL), a Joint Venture Company of Nigerian National Petroleum Corporation, NNPC, and Sahara Energy on Tuesday 17 January, unveil two LPG vessels in Ulsan, South Korea… Continue reading NNPC/Sahara Energy JV Unveil Vessels to Solve Gas Scarcity
FG May Scrap Investment Tax Credit in PSC
By Modupe Gbadeyanka Federal Government may remove investment tax credit in Production Sharing Contract (PSC) if the proposed key amendments to the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act are accepted. On Thursday, the Nigerian National Petroleum Corporation (NNPC) noted that this would enable the Federal Government optimize the collection of royalties… Continue reading FG May Scrap Investment Tax Credit in PSC
Scarcity: NNPC Resumes Production of Kerosene, Diesel
By Modupe Gbadeyanka The three refineries of the Nigerian National Petroleum Corporation (NNPC) have resumed the production of Automotive Gas Oil (AGO) and Dual Purpose Kerosene (DPK), otherwise known as diesel and kerosene respectively. This move, Business Post gathered, was taken due to the recent scarcity of kerosene, which subsequently caused the price to jerk… Continue reading Scarcity: NNPC Resumes Production of Kerosene, Diesel
NNPC Cuts Fuel Import, Targets 60% Local Production
By Dipo Olowookere Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has disclosed that the agency was making efforts to reduce the amount of petrol inported into the country in 2017. Mr Baru noted that in achieving this, NNPC has commenced moves to reduce products importation by boosting the capacity utilization… Continue reading NNPC Cuts Fuel Import, Targets 60% Local Production
NNPC to Set Up Security Council to Tackle Pipeline Vandalism
By Modupe Gbadeyanka The Nigerian National Petroleum Corporation (NNPC) has outlined plans to establish a security advisory council aimed at bringing a lasting solution to the perennial problem of pipeline vandalism and sundry security challenges bedeviling the oil and gas industry. Speaking during a visit to NNPC by the management of Media Trust Limited, the… Continue reading NNPC to Set Up Security Council to Tackle Pipeline Vandalism
Oil Marketers Laud NNPC for Hitch-free Fuel Supply
By Modupe Gbadeyanka The Depot and Petroleum Products Marketers Association (DAPPMA) has commended the Nigerian National Petroleum Corporation (NNPC) for ensuring a hitch-free supply of petroleum products across the country during the end of year holiday season. Chairman of DAPPMA, Mr Dapo Abiodun, gave the commendation on Thursday when he led a delegation of the… Continue reading Oil Marketers Laud NNPC for Hitch-free Fuel Supply
NNPC Unveils Winners of 2017/2018 Crude Term Contract
By Modupe Gbadeyanka The Nigerian National Petroleum Corporation (NNPC) has announced the list of successful bidders for the 2017/2018 crude oil term contract. In a statement issued on Tuesday by the agency’s Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, it was disclosed that 39 bidders made the list. Mr Ughamadu also noted… Continue reading NNPC Unveils Winners of 2017/2018 Crude Term Contract