The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Maikanti Baru, declared that the 2016 national budget was grossly impacted by the vandalism of crude oil pipelines in the Niger Delta region, resulting in a loss of N51.3bn. Baru also appealed to the military to...

The Nigeria National Petroleum Corporation (NNPC) says plans are underway to set up an energy renewable plant that will use agro products to generate energy. Its Group General Manager in charge of Renewable Energy Division, Mr Rabiu Suleiman, stated this during a courtesy call on...

Recently the 2013 Audit Report of the Nigeria Extractive Industries Transparency Initiative (NEITI) on Oil, Gas and Solid Minerals was made public. The Executive Secretary of NEITI, Mr. Waziri Adio granted an interview to the Economic Confidential on issues arising from the report as...

The Federal Government has lost approximately $518 million to oil swap and Offshore Processing Agreements (OPA) in 2013 due to inefficiencies by the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries, the Economic Confidential can authoritatively report. The Economic and Financial Crimes Commission (EFCC) would...

...FAAC pushes for fresh forensic audit of corporation The Federation Accounts Allocation Committee (FAAC) has disclosed that the Nigerian National Petroleum Corporation (NNPC) is indebted to it to the tune of N5 trillion over the last five years. The debt, according to FAAC, was incurred between...

The Nigerian National Petroleum Corporation has stopped pumping Premium Motor Spirit (petrol) to its depots in a bid to avoid losses that arise from the incessant rupturing of pipelines that convey products to the various facilities. It was learnt that the corporation had also devised...