Oil and Gas

The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, on Wednesday reiterated his plan to privatise the Nigerian National Petroleum Corporation (NNPC) if elected on February 16. Mr Abubakar also promised to double the size of the Nigerian economy. Reuters reported Wednesday that Mr Abubakar, a businessman who …

No fewer than 500 employees are about to be dropped from the payroll of the Nigerian National Petroleum Corporation (NNPC) for reportedly failing to scale through a mandatory personnel assessment and promotion examinations the corporation recently conducted. Very reliable sources within the state oil company said the issue was already …

The Nigerian National Petroleum Corporation (NNPC) on Saturday said the $1.05bn revolving loan obtained from the dividend of the Nigerian Liquefied Natural Gas company prevented petroleum products’ chaos in Nigeria. It said the loan was used to subsidise the cost of Premium Motor Spirit, popularly known as petrol, in 2018, …

The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) has warned the promoters of the new Train 7 plant being implemented by NLNG Limited against any attempt to circumvent the provisions of the Nigerian Oil and Gas Industry Content Development (NOGCD) Act of 2010 in the $7 …

Oil companies that fail to stop gas flaring by 2019 would have their licenses revoked, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. Kachikwu, who stated this yesterday  at the 2018 Buyers’ Forum/Stakeholders’ Engagement at the Gas Aggregation Company of Nigeria (GACN) in Abuja, said government …

The Federation Account Allocation Committee (FAAC) disbursed N1.938 trillion in the first quarter of 2018. The amount shared represents an increase of 37.3% when compared with N1.411 trillion shared during the same period in 2017 and 71.1% of the N1.132 trillion shared in the same quarter of 2016. A breakdown …

… Says More Stations in Pipeline The Nigerian National Petroleum Corporation (NNPC) said Downstream subsidiary, the NNPC Retail Limited, now holds 14 per cent of the market share of petroleum products retail business in Nigeria. Group Managing Director of the NNPC, Dr. Maikanti Baru, made this disclosure at the 1st …