NNPC Releases 2019 Audited Financials, Declares N1.7bn Loss       The Nigerian National Petroleum Corporation, NNPC, Thursday, announced the release of its 2019 Audited Financial Statement, declaring a loss of N1.7 billion, representing a 99.7 per cent decline from a loss of N803 billion recorded in 2018. In...

2021 Budget: Increasing IGR To Stave Off Debt Accumulation         Two things that stood out in President Muhammadu Buhari’s 2021 budget presentation at the National Assembly last week are the desire to steer the economy away from racking up debts to increasing its revenue generation capacity...

PIB’ll Secure Future Of Nigeria’s Oil Industry, Says Kyari       Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, Monday, disclosed that the passage of the Petroleum Industry Bill, PIB, would effectively secure the future of Nigeria’s oil and gas industry and...

Consumers Paid N76.5bn Extra For Petrol After Deregulation       More than N76.5bn has been paid for the purchase of petrol by consumers since the downstream oil sector was deregulated in March this year. After the Federal Government deregulated the downstream sector of the oil industry on March...

Nigeria Wastes Gas Worth N115bn In Seven Months       International oil companies and local players in the nation’s oil and gas industry flared natural gas worth an estimated N114.79bn from January to July this year. The companies produced 1.64 trillion standard cubic feet of gas in the...

Downstream Sector Deregulation Will Boost Investments – NNPC       The deregulation of the downstream sector of the oil and gas industry in Nigeria will increase investment in the refining business and facilitate exponential growth in the nation’s refining capacity. Group Managing Director of the Nigerian National Petroleum...