In One Month, NNPC Spends N492.05bn On Subsidy, Salaries, Other Expenses       Nigeria’s subsidy regime, salary and other operating revenue cost the Nigerian National Petroleum Corporation (NNPC) N492.05 billion in the month of April this year. Recall that the Group Managing Director of the Corporation, Mele Kyari...

COVID-19, Power Failure, Others Stall N88.76bn Oil Production - NNPC       COVID-19 outbreak, Power failure and production shut-in at various crude oil terminals prevented the production of 3.31 million barrels of oil valued at about N88.76bn in one month. Updates on key setbacks that affected oil production...

NNPC Begins Shakeup Ahead Of PIB Implementation     Nigerian National Petroleum Corporation (NNPC) has announced a major shakeup in anticipation of the implementation of the Petroleum Industry Bill (PIB). The Corporation, in a statement, said: “Other Chief Operating Officer positions in the Corporation have now been redesignated...

NNPC Posts N43.57bn Trading Surplus For April       The Nigerian National Petroleum Corporation on Sunday announced a trading surplus of N43.57bn in April 2021, representing a 23.64 per cent increase over the N35.24bn surplus it recorded in the preceding month of March 2021. It disclosed this in...

Petrol Landing Cost Hits N249/litre       The landing cost of Premium Motor Spirit (petrol) imported into the country has increased to a new high of N249.42 per litre on the back of high global crude oil prices. The further rise in the landing cost of petrol means...

NNPC Plans Policies To Guide Divesting IOC Partners     The Nigerian National Petroleum Corporation has said it would outline policies to guide partners (International Oil Companies) of the corporation who wish to divest from joint ventures or the Nigerian oil and gas industry. Shell had said in...