Why NNPC Ex-depot Price Cut May Not Affect Petrol     Though the Nigerian National Petroleum Corporation (NNPC) yesterday reduced ex-depot price of petrol from N113.28k per litre to N108.00k per litre across its products loading facilities, the reduction may not be reflected at filling stations. A letter...

Petrol Price Reduction Won’t Be Immediate - Oil Marketers   The latest reduction in the ex-depot price of petrol to N108 per litre will not translate to an immediate drop in the pump price of the commodity at filling stations, oil marketers stated on Thursday. On Wednesday,...

FG’ll Offer Small Oil Fields For Licensing, Says NNPC     The Federal Government will offer marginal oil fields for auction this year despite the crash in crude oil prices, the Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said. The country has not...

Price Crash Delays Oil Bid Rounds, Upstream Projects   Nigeria will not hold bidding rounds for major oilfields until crude prices recover, and some upstream projects will be completed much later than originally planned, officials said in a web conference yesterday. Oil prices also rose yesterday as...

Nigeria Records 253.09BCF Of Natural Gas In January – NNPC   A total of 253.09 Billion Cubic Feet (BCF) of natural gas was produced in January 2020 translating to an average daily production of 8164.23 Million Standard Cubic Feet per Day (mmscfd). The Nigerian National Petroleum Corporation...

Nigeria Spent N752bn On Subsidy In 2019   The federal government paid N752 billion as petrol subsidy in 2019, a report by the Nigerian National Petroleum Corporation (NNPC) has disclosed. According to a recent report on NNPC’s operations and financial activities for the period of January 2020,...