NNPC Rallies Operators, Others to Caution Oil Production Cost The Nigerian National Petroleum Company Limited (NNPC) has called on operators, service providers in the nation’s oil and gas industry towards tackling the menace of high production cost and improving profitability in the sector. The Chief Upstream...

Reps Question $9.5bn Loss to Gas Flaring Yearly  The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has inaugurated an Ad hoc Committee to investigate the alleged $9.05 billion revenue loss from gas flaring in the last decade in Nigeria. Abbas, at the inauguration of...

N1.3tn Subsidy Debt won’t Affect Dividend, Says NNPCL Nigerian National Petroleum Company Limited has disclosed that its outstanding N1.3tn debt to the Federal Government has nothing to do with the payment of dividends to the government. In June this year, the national oil company revealed that...

NNPCL, UTM Partner to Build First Floating Gas Plant In Nigeria  The Nigerian National Petroleum Company Limited and UTM Offshore Limited, on Thursday, signed a Heads of Terms agreement for the construction of Nigeria’s first indigenous 1.5 million tonnes per annum Floating Liquefied Natural Gas...

Fuel Marketer’s Vessel Arrival Ends NNPCL Reign  First batch of 27 million litres of petrol imported by an independent marketer has arrived in the country, ending Nigerian National Petroleum Company Limited's downstream monopoly. The vessel, ST Nnene earlier billed to arrive since last week, but was...

Reps To Probe NNPCL Over Non-remittance Of Revenue   The House of Representatives is set to commence investigations into non-remittance of revenues to the federation account by the Nigerian National Petroleum Company Limited (NNPCL). This followed the adoption of a motion, ‘Need to investigate the non–remittance of...