Nonetheless, the NNPC boss argued that the national fuel consumption per day may not be above 60 million litres as being speculated, noting that anytime NNPC supplies less than that, there would be a problem. The Nigerian National Petroleum Corporation (NNPC) said it is in talks with the Government of Niger Republic to establish a retail … Read more
“Before plenary tomorrow, the leadership of the Senate has decided to invite NNPC GMD to come and brief us in a closed session.” EKO HOT BLOG reports that the Senate has summoned the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari. This was disclosed by the Senate President, Ahmad Lawan, during … Read more
“Before plenary tomorrow, the leadership of the Senate has decided to invite NNPC GMD to come and brief us in a closed session. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has been summoned to the Senate on Thursday to brief the Senate on the Petroleum Industry Bill (PIB) 2021. … Read more
The Nigerian National Petroleum Corporation (NNPC) has given a fresh update on the increment of petrol price. EKO HOT BLOG reports that the Nigerian National Petroleum Corporation (NNPC) has said the official price of a litre of Premium Motor Spirit (PMS) popularly known as petrol will remain N162 in July. The Group Managing Director of … Read more
Petrol marketers have spoken about the directive to shut filling stations across the country. EKO HOT BLOG reports that the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has debunked a directive asking members to shut down their petrol stations nationwide. It was gathered that the shut-down directive which has since been … Read more
Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have signed 20 years renewal agreement to Unlock a $10bn investment. EkoHotBlog reports that the Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. PSC … Read more
The macroeconomics variables affecting petroleum products pricing have changed The Nigerian National Petroleum Corporation (NNPC) says it will not be able to meet up with its fiscal obligations due to the financial shortfalls occasioned by vagaries and discrepancies in cost of petroleum importation and subsidy payment. In a letter addressed to Accountant-General of the Federation, … Read more
Kyari urged the union to expedite action to ensure that fuel queues do not resurface across the country The Nigerian National Petroleum Corporation (NNPC) has said that there is no plan to increase the pump price of Premium Motor Spirit (PMS), popularly known as petrol, for the month of May. NNPC Group Managing Director, Mele … Read more
The Nigerian National Petroleum Corporation (NNPC) this week continued with its busy schedule in its avowed effort in fulfilling a mandate to ensure strong, reliable and efficient oil and gas sector in the country, The corporation started its weekly activities on March 29, with the signing of a Memorandum of Understanding (MoU) with some of … Read more
The National Bureau of Statistics (NBS) had said Nigeria’s unemployment rate rose to 33.3 per cent in the final quarter of last year, indicating that 23.2 million or one in three working age Nigerians have no jobs or trade This is the highest unemployment rate in Nigeria in at least 13 years and the second-highest … Read more
NNPC to generate $600m from Marginal fields The Minister of State for Petroleum Resources, Timipre Sylva, says his ministry is expected to generate 600million dollars from its new Marginal Fields. The minister made the disclosure at the fifth edition of the Special Ministerial Briefings coordinated by the Presidential Communication Team, held at the Presidential Villa, … Read more
The Nigeria National Petroleum Corporation (NNPC) has lamented over the cost Premium Motor Spirit otherwise known as petrol is being subsidised on monthly basis. This is coming amidst controversy about the removal of petrol subsidy between the administration of former President Goodluck Jonathan and the current administration of President Muhammadu Buhari. The Nigeria National Petroleum … Read more
Kyari stated, “NNPC currently the sole importer of PMS, and we’re trying to exit the underpriced sale of PMS. The Nigerian National Petroleum Corporation has stated that it can no longer bear the burden of the difference between the market price of PMS and the selling price. This was made known by Mele Kyari, Group … Read more
Nigerian National Petroleum Corporation (NNPC) on Monday said that the $1.5 billion approved for the Port Harcourt refinery was for complete rehabilitation and not turnaround maintenance. The Group Managing Director (GMD), NNPC, Mele Kyari, said this in Abuja while reacting to controversies and unverified claims by some Nigerians on the funds meant for the project. … Read more
Sylva said that going by the way the project was structured, the operations of the refinery would pay back the funds to be used The minister also explained that a commercial discussion between the NNPC and Afreximbank on how the money will be paid from the operations of the refinery is ongoing The Federal Government … Read more
According to the Nigerian National Petroleum Corporation (NNPC), the Federal Government will consult extensively before ending subsidies on Premium Motor Spirit, also known as gasoline. According to the most recent pricing template for the product, the NNPC could spend N 102.96 billion on petrol subsidies this month. According to our correspondent’s findings, Nigeria consumes approximately … Read more
The Petroleum Products Pricing Regulatory Agency (PPRRA) has on Friday deleted an earlier published template announcing that the new price of petrol has reached N212.6 per litre. This is coming after the increment which was announced via the website of the agency was greeted with public outrage on Friday. Also, the Nigerian National Petroleum Corporation … Read more
The Nigerian National Petroleum Corporation (NNPC) has insisted that the depot price of Premium Motor Spirit, also known as petrol, will remain unchanged in March. This is coming after the Petroleum Products Pricing Regulatory Agency (PPPRA) fixed the pump price of petrol at N212.61 per litre on Thursday. The Nigerian National Petroleum Corporation (NNPC) has … Read more
… the retail price of petrol would sell between market band of ₦209.61 and ₦212.61 Reactions have begun trailing reports that the Price of Premium Motor Spirit (PMS) otherwise called petrol has soared to ₦212.6 per litre. The Petroleum Products Pricing Regulatory Agency (PPPRA) had said in a new monthly template that the retail price … Read more
The Nigerian government has increased the pump price of petrol to N212.61 a litre, less than two weeks after assuring the nation there would be no hike. The ex-depot price, which is the amount sold by fuel depot owners to marketers, will be N206.42, while the landing cost stands at N189.61 per litre, the agency … Read more