NNPC, IOCs, Others Sign MoU To Reduce Contracting Cycle The Nigerian Content Development and Monitoring Board (NCDMB) has signed a Memorandum of Understanding (MoU) cum Service Level Agreement (SLA) with the Nigerian National Petroleum Company Ltd (NNPCL) and five international oil-producing companies to optimise the...

NNPCL Sends Management Staff on Immediate Retirement The Nigerian National Petroleum Company Limited has compulsorily retired all management staff with less than 15 months to statutory retirement. In an early Tuesday morning announcement, the company declared that the retirement of the affected workers was with immediate...

OPEC Warns FG as Refining Capacity Crashes to 6,000b/d The Petroleum Exporting Countries recent report has revealed that Nigeria's crude oil refining capacity has further reduced to just 6,000 barrels per day. In its latest Annual Statistical Bulletin 2023, OPEC said the country’s capacity to refine...

Explainer: What you need to know about NNPC Ltd's $3 billion Emergency Crude Repayment Loan from Afrexim Bank   1. What is the $3 billion loan about? The NNPC Ltd. secured an emergency $3 billion crude oil repayment loan from AFREXIM Bank. This is not a crude-for-refined...

NNPC Secures $3bn Afreximbank’s Loan To Stabilise Naira   The Nigerian National Petroleum Corporation (NNPC) Limited said it had secured a $3 billion crude repayment loan to halt the further slump of Naira against the Dollar at the foreign exchange market. The company disclosed this on Wednesday...

Nigerian Govt To Sell Stakes In NNPC, 19 Entities   The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities. This is according to a Bloomberg report. The Nigerian National Petroleum Corporation is among the firms the...