NNPC Reduces Debts To IOCs To $1.58bn, Pays Off Mobil       Out of about $4.6 billion negotiated joint venture (JV) oil production debt Nigeria was owing international oil companies (IOCs), about $3.02 billion has been paid by the Nigerian National Petroleum Corporation (NNPC), leaving about $1.58...

2019 Financials: NNPC At Risk Of Bankruptcy — Auditors, Management Warn       Independent auditors and management of the Nigerian National Petroleum Corporation, NNPC, have raised doubts over the ability of the corporation to continue as a going concern, following rising losses and negative capital as a...

NNPC’s Liabilities Exceed Assets By N4.4trn         The liabilities of the Nigerian National Petroleum Corporation as a group exceeded the assets of the oil firm by N4.4tn in 2019, the just released audited financial statements of the firm for 2019 showed. It also revealed that the oil...

NNPC Says ANOH Gas Projects to Produce 600MSCFD Equivalent of 2.4GW of Electricity As part of concerted efforts to ramp up gas-to-industries and gas-to-power in the country, the Nigerian National Petroleum Corporation (NNPC) has revealed that the Asa North-Ohaji South (ANOH) gas project, one of...

339 Foreign, Local Firms Bid To Sell Nigeria’s Crude Oil Grades         At least 339 crude oil trading companies applied for the sale and purchase of Nigerian crude oil grades contracts spanning 2020 to 2022 by the close of the bidding process at noon yesterday. Last month,...

We’ve Reduced Loss By 99.7% To N1.7bn, Says NNPC         The Nigerian National Petroleum Corporation says it has achieved 99.7 per cent reduction in its loss profile from N803bn in 2018 to N1.7bn in 2019. The corporation published its 2018 Audited Financial Statement five months ago. The corporation’s...