NNPC Obtains $1bn To Fund Upstream Operations       The Nigerian National Petroleum Corporation on Thursday night announced that it had obtained a prepayment funding of about $1bn to support the upstream operations of its subsidiary, the Nigerian Petroleum Development Company. It said the crude oil prepayment had...

NNPC Group Life Assurance Scheme Records Strong Performance     As firms continue to fine-tune ways of protecting their workers against mishaps in the workplace, the Nigerian National Petroleum Corporation (NNPC) Group Life Assurance (GLA) scheme in the last 10 years has exposed a strong and consistent...

Nigeria Spends N148bn On Refineries     Nigeria spent N148 billion in the last 13 months on three refineries but produced less than 40,000 metric tons of crude oil, a June report published by Nigerian National Petroleum Corporation (NNPC) has shown. It attributed the operational shortfall to the...

Petrol Price Should Be About N155/litre – Marketers     The pump price of petrol should be closer to N155 per litre, the Chairman of the Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, has said. Oyebanji, who is the managing director/chief executive officer of 11Plc (formerly...

BREAKING: Petrol Price Now N151.56 Per Litre ― PPMC     The price of petrol has been increased to N151.56 per litre, according to Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, NNPC. In a statement obtained by Economic Confidential, D.O Abalaka...

Oil Marketers Deny NNPC On N5.35bn Petrol Subsidy Payment       Oil marketers on Monday expressed surprise over the resurfacing of petrol subsidy in June 2020 as disclosed by the Nigerian National Petroleum Corporation in its latest operations report. According to marketers of petrol, the government had since...