NNPC’s Losses Increase By 200%, Now N30.8bn   The Nigerian National Petroleum Corporation lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit, latest figures from the oil firm showed on Wednesday. In the report on the corporation’s financial and operational activities...

In Three Months, Petrol Subsidy Gulped N101.6bn – NNPC   Petrol subsidy consumed over N101bn in the first three months of this year, as stakeholders want the scheme to be fully halted. Latest figures released by the Nigerian National Petroleum Corporation have shown that petrol subsidy gulped...

NNPC Increases Gas Supply As Pipeline Vandalism Rises     The Nigerian National Petroleum Corporation on Thursday announced an increase of 19.14 per cent in the average daily natural gas supply to power plants. According to NNPC, this translates to 788 millon standard cubic feet of gas per...

NNPC Remits N1.7trn To FAAC In One Year   The Nigerian National Petroleum Corporation (NNPC) paid about N1.7 trillion to the Federation Account Allocation Committee (FAAC), between February 2019 and February 2020, the national oil company has said. Figures from its full monthly financial report revealed that...

NNPC Reports Explosion at NPDC’s Benin River Valve Station (BRVS)   The Nigerian National Petroleum Corporation (NNPC) has reported an explosion incident which occurred at Gbetiokun, OML 40, operated by the Nigerian Petroleum Development Company (NPDC), on behalf of the NPDC/Elcrest Joint Venture. The incident, which occurred...

Reps Summon NNPC, NLNG Over Alleged Illegal $1.05bn Withdrawals     The House of Representatives has resolved to investigate the alleged illegal withdrawal of funds from the Nigerian Liquefied Natural Gas Limited amounting to $1.05bn by the Nigerian National Petroleum Corporation. The resolution followed the adoption of a...