NNPC Acquires Downstream assets of OVH Energy, Takes Over 380 Filling Stations The Nigerian National Petroleum Company Ltd has acquired the downstream assets of OVH Energy Marketing Company making it the biggest downstream company with over 380 retail stations across Africa’s biggest economy. The acquisition was...

Reps Demand Tax Records, Documents Of NNPC JV Accounts   The House of Representatives has demanded the tax records and other relevant documents on joint venture (JV) businesses and production-sharing contracts of the Nigerian National Petroleum Corporation (NNPC) from 1990 to date from the Federal Inland...

NESG, Marketers Express Fear as Fuel Subsidy Gulp N2.04tn The Nigerian Economic Summit Group and oil marketers, under the aegis of the Petroleum Retail Outlet Owners Association of Nigeria, have expressed concern about an impending fiscal crisis in the country following the continued rise in...

FG Pays IOCs $4bn, Secures Pipelines With N12.43bn   Latest figures from the national oil company on cash call arrears repayment indicated that the Federal Government, through NNPC, had so far paid $4.04bn to five of its joint venture international oil companies as at July 31,...

NNPCL To Sign Gas Pipeline Contract With Morocco, West African Countries   The Nigerian National Petroleum Company Limited (NNPCL) will tomorrow (Thursday) sign a Memorandum of Understanding (MoU) on a gas pipeline project with the National Office of Hydrocarbons and Mines of Morocco and the commission...

FG Unable to Stop, Confront Daring, Sophisticated Oil Thieves A market intelligence and data analytics firm, Proshare, has revealed that oil theft persists in Nigeria because all the institutions of state lack the will and determination to stop the menace. In the report which dived deep...