The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that following the acquisition and processing of over 1,900 square kilometres of new three-dimensional seismic in the Chad Basin, the corporation will commence drilling in early 2017 after...

The cash call arrears owed oil companies by the Federal Government have swollen to over $8.5bn (N2.6tn), a development that has seen the government making moves to exit the Joint Venture cash call system. The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Maikanti Baru,...

The Nigerian National Petroleum Corporation (NNPC) is set to grow the nation’s oil and gas reserves, the Group Managing Director, Dr. Maikanti Baru, has disclosed.   Dr. Maikanti Baru made this assertion in Lagos  while delivering a keynote address at the 34th Annual International Conference and...

Oil workers under the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), warned the Federal Government to desist from its plans to scrap the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR), Petroleum Pricing Regulatory Agency (PPPRA) other agencies in the...

Petroleum practice should allow states to be allocated specific acreages and then encouraged to enter into joint ventures to explore and exploit oil resources in the allocated acreages. This is among the recommendations of the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu,...

The Federation Accounts Allocation Committee (FAAC) distributed the sum of N420 billion among the three tiers of government in October this year, being the statutory allocations for the month of September. The distributable monthly allocation marginally decreased below N510.27 billion shared in the month of...