Nigeria to Become Net Fuel Exporter by December – Kyari The Group Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said Nigeria will be a net exporter of refined petroleum products by December this year, based on emerging indicators in the...

NNPCL Not Ready to Proceed with $2bn Crude-backed Loan - Kyari The Nigerian National Petroleum Company Limited, on Wednesday, said it would make an formal announcement when ready to take the earlier reported $2bn crude-backed loan. It was reported on Tuesday that NNPC was in talks...

Fuel Queues Due to Flooding, Logistics Challenges — NNPCL   The NNPC Ltd has said that the fuel queues seen in the FCT and some parts of the country, were as a result of disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known...

FG Begins N2.7tn Subsidy Debt Probe The Federal Government has begun the proposed audit of the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited (NNPCL). An audit firm, KPMG had conducted an initial audit reducing the claims from N6tn to N2.7tn. However, in the...

NNPCL, TotalEnergies Sign $550m Investment Deal for Ubeta Field Project The Nigerian National Petroleum Company Limited (NNPCL) and TotalEnergies JV have announced a $550 million final investment decision for the Ubeta Field Development Project. On Thursday, the duo signed the deal which is expected to yield...

Daily Oil Production Drops to 1.25mbpd – OPEC Nigeria’s daily oil production dipped further to 1.25 million barrels per day in May, a report by the Organisation of the Petroleum Exporting Countries (OPEC) has said. This is despite the claim by the Federal Government and the...