Nigerians are yet to see the end of the Premium Motor Spirit (Petrol) crisis as the Nigerian National Petroleum Company Limited blamed supply cost for fuel scarcity. The financial strain has put considerable pressure on the company and poses a threat to the sustainability of fuel supply. EDITOR’S PICKS Police Arrest Man For Allegedly Killing … Read more
Fuel queues have resurfaced in Lagos as many filling stations ran out of stock, leading to closures and long lines at the few stations still dispensing fuel. It was gathered on Sunday in Lagos that most filling stations along Ikorodu Road were not selling. However, the Nigerian National Petroleum Company Ltd. (NNPCL) and NIPCO at … Read more
Nigeria’s oil marketers are optimistic about the imminent start of commercial production at the Port Harcourt Refinery, following a recent visit by key industry figures. EDITOR’S PICKS ‘Demonstration Continues’ – Lagos Protest Organizers Declares ‘FG’s Policies Major Cause Of Hardship’ – Obaseki Reacts As Edo Protesters Worship On Street LSMTL Targets ISO/17025 Accreditation for Global … Read more
The House of Representatives threatens to dismiss NNPCL CEO Mele Kyari if he obstructs the Dangote Refinery’s operations and supports the dismissal of Petroleum Regulatory Authority CEO Farouk Ahmed. EKO HOT BLOG reports that the House of Representatives has vowed to call for the dismissal of the Group Chief Executive Officer of the Nigerian National Petroleum … Read more
Fuel Scarcity: NNPCl Gives Reasons The Nigerian National Petroleum Company Limited, NNPC Ltd has explained the reasons behind the fuel scarcity in Lagos and the Capital wishes to state that the Federal Capital Territory, Abuja. In a statement by the company’s Chief Corporate Communication Officer, Mr. Olufemi Soneye, the tightness in fuel supply and distribution … Read more
The Minister of State Petroleum Resources (Oil) Heineken Lokpobiri has on Monday meet with the Chairman and CEO of Dangote Group Aliko Dangote over issues surrounding the Dangote Refinery. Eko Hot Blog reports that the meeting had in attendance NNPCL group CEO Mele Kyari, Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority … Read more
KPMG conducts forensic audit revealing ₦3.3 trillion inconsistency in fuel subsidy claims by NNPC. NNPCL initially reported ₦6 trillion in subsidy spending, with the government owing ₦2.8 trillion, as per CEO Mele Kyari. Nigerian Government plans fresh audit of NNPC’s ₦2.8 trillion fuel subsidy claim spanning 2015 to 2021 to authenticate claims. EKO HOT BLOG reports … Read more
Oil Marketers Eye N500/Litre Petrol Price As Port Harcourt Refinery Gears Up. Dealers confirm nearing readiness of PHRC, anticipate reduction in petrol price. NNPC’s Mele Kyari reveals plans for refinery operations, aiming to alleviate petroleum supply challenges. EKO HOT BLOG reports that as the Port Harcourt Refining Company (PHRC) gears up for production under the directives … Read more
Eko Hot Blog reports that the Central Bank of Nigeria has created a department to deal with crude oil sales transactions by the Nigerian National Petroleum Company Limited, the Group Chief Executive Officer, NNPCL, Mele Kyari, announced on Thursday. Kyari also revealed that the Board of Directors of NNPCL had approved the decision to move … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Company (NNPC) has released its 2022 financial statement, saying that its revenue increased to N8.81 trillion in 2022. The national oil company disclosed this in its audited financial statements on Thursday for the 16-month period ending December 2022. According to NNPP, the document showed that the … Read more
EKO HOT BLOG reports that the Nigerian National Petroleum Corporation (NNPC) has accomplished its commitment to achieving mechanical completion of rehabilitation work on Area 5 Plant at the Port Harcourt Refining Company (PHRC). This pivotal achievement comes following a significant inspection tour and the 15th Refineries’ Rehabilitation Steering Committee Meeting. Mele Kyari, Group Chief Executive Officer … Read more
Eko Hot Blog reports that President Bola Tinubu has inaugurated the board of directors of the Nigerian National Petroleum Company (NNPC) Limited. The NNPCL spokesperson, Femi Soneye, disclosed the development on Monday. He said the president inaugurated the board on Monday at the villa in Abuja. In November, Tinubu approved the appointment of the new … Read more
Eko Hot Blog reports that the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari has been given a 24-hour notice to appear before the Senate Appropriations Committee. Senator Adeola Olamilekan, the committee’s chairman of the committee on Wednesday additionally requested that Kyari be present in the presence of the Nigerian Upstream … Read more
Eko Hot Blog reports that President Bola Tinubu has approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Limited (NNPCL), which would take effect from December 1, 2023. In a statement on Monday by the presidential spokesman, Ajuri Ngelale, the appointment complies with Section 59 (2) of the … Read more
Eko Hot Blog reports that The Group Chief Executive Officer of Nigerian National Petroleum Company (NNPCL) Limited, Mele Kyari has said Nigeria would become a net exporter of premium motor spirit by 2024. Editors Pick NECO Announces Release Of 2023 SSCE Result FG Announces Plan To Commence Home Delivery Of Nigerian Passports BREAKING: Police Officer … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) and Indorama Eleme Petrochemicals Limited have signed a Memorandum of Understanding (MOU) to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria. According to a statement issued by the NNPC spokesperson, Garba Deen … Read more
Eko Hot Blog reports that the Nigerian National Petroleum Corporation Limited (NNPCL) says it has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange (Forex) market. The corporation made the disclosure in a terse statement posted on the official account of the company on X (formerly known as … Read more
EkoHotBlog reports that President Tinubu is currently in a meeting with the GMD of Nigerian National Petroleum Corporation (NNPC) and executives from Shell Petroleum Development Company. As of the time of filing this report, details of the discussion remain undisclosed, however, it is highly probable that the meeting centers around the recent fuel price adjustments and … Read more
The presidency denies reports of President Tinubu ordering the suspension of NNPC CEO, Mele Kyari, dismissing them as false social media claims. Multiple sources confirm that there are no plans to suspend Kyari as NNPC boss, stating that the reports are untrue. The presidency has not issued any directive to suspend Kyari, according to … Read more
The ExxonMobil strike, which was initiated by PENGASSAN, has been called off. Following the successful mediation by Mele Kyari, the Group CEO of the Nigerian National Petroleum Company Limited, a decision was made to call off the strike. The resolution of the conflict is a major breakthrough for the oil and gas sector in Nigeria. … Read more