Rising Oil Price Puts More Pressure on NNPC’s Finances       Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...

Tough Times Beckon As NNPC Says No FAAC Remittance For May       The three tiers of government, federal, states and local governments, are in for tough times next month as they may get less from the Federation Account, no thanks to the huge payment the Nigerian...

OML 143: NNPC, SEEPCO Sign Gas Development Agreement to Unlock 1.2TCF The gas development and commercialization programme of the Nigerian National Petroleum Corporation (NNPC) received a boost Thursday with the execution of the Oil Mining Lease (OML) 143 Gas Development Agreement (GDA) by the NNPC...

Fed Govt May Exceed N7.89trn 2021 Revenue Target As Oil Prices Soars         There are indications that the Federal Government may be on course to meet and perhaps, surpass the projected oil revenue target in the 2021 budget if the recent rise in the prices of...

NNPC Records N222.3bn Gross Revenue In November       The Nigerian National Petroleum Corporation (NNPC) recorded a gross revenue of N222.3 billion, excluding statutory and obligatory deductions in November 2020, latest figures from the national oil company have indicated. Documents presented by the corporation, detailing its activities to...

New Gas Project To Add N2.8trn To Nigeria’s Economy         About N2.8 trillion-revenue is expected from a new 200 million cubic feet gas project being promoted by the Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC). This revenue is expected to...