In Two Years, FG Refineries Post N406.62bn Loss
The four refineries owned by the Federal Government made a total loss of N406.62bn in two years, the latest audited financial statements of the plants have shown.
The refineries, which are located in Port Harcourt, Kaduna and Warri,...
Nigeria To Get $510m From New Oil Deal
The Nigerian National Petroleum Corporation (NNPC) said it has reached an accord with its partners, to settle all outstanding issues surrounding the development of Oil Mining Lease, (OML) 130 with a prospect of raking in $510 million...
In 13 Months, Nigerians Spent N2.37trn On petrol – NNPC
In 13 months, Nigerians spent N2.37tn on petrol imported into the country by the Nigerian National Petroleum Corporation, data released by the corporation have shown.
The corporation said on Wednesday that its total revenue generated from...
UBA Boosts Nigeria’s Oil Production With $200m Facility
The United Bank for Africa Plc (UBA) has announced a $200 million facility support to boost Nigeria’s crude oil production capacity.
The facility is part of a $1.5 billion Pre-Export Finance Facility provided by consortium of Nigerian commercial...
Another NNPC Ex-GMD Dies Within Three Months
The Nigerian National Petroleum Corporation on Monday announced the demise of its former Group Managing Director, Dr Joseph Dawha.
Dawha is the second ex-GMD of the national oil firm to have passed on in the last three months, as...
FG Moves To Reduce Oil Production Cost To $10
The Federal Government is working towards attaining a $10 per barrel production cost sealing in the oil and gas sector, the Minister of State for Petroleum Resources, Chief Timipre Sylva, has said.
Sylva, who stated this yesterday...
