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NPDC Remits over $608m as Royalty, Petroleum Profit Tax in 2016

The Nigerian Petroleum Development Company, NPDC, the upstream subsidiary Company of the Nigerian National Petroleum Corporation, NNPC, has provided clarification on the reported non-remittance of some crude oil revenue to the Federation Account. In a presentation to the Senate Ad hoc Committee on the recovery...

Confusion as Explosion Rocks NPDC Pipeline in Delta

There was confusion in some parts of Ughelli in Delta State  when an explosion rocked a pipeline belonging to Nigerian Petroleum Development Company (NPDC). Though security operatives believed that the explosion was as a result of a fault, some community sources thought it was an...

Hours After N’Delta Parley, Militants Blow up NPDC Pipeline

...Oil firms suspend operations as PIB passes second reading in Senate Barely a few hours after the dialogue between President Muhammadu Buhari and critical stakeholders of the Niger Delta to resolve the crisis in the region, unrepentant militants Tuesday night bombed the Trans Forcados Pipeline...

Militants Claim Responsibility for NPDC Trunkline Attack

Isoko militant group, Niger Delta Greenland Justice Mandate (NDGJM) has claimed that it bombed the 32-inch Effurun-Otor delivery line operated by the Nigerian Petroleum Development Company (NPDC). The group said in a statement signed by its spokesman. Aldo Agbalaja, that its action was in protest...

Maikanti Baru: Repositioning the Energy Behemoth for Profitability

When the newly appointed Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC) Dr. Maikanti Kacalla Baru recently met with various security chiefs and agencies, he knew exactly that without the cooperation of these agencies, the oil exploration and exploitation in the...

NNPC Lost N26.5bn in June – Report

The Nigeria National Petroleum Corporation (NNPC) has reported a loss of N26.51bn in its June 2016 operations, a month after it declared N274 million first profit in 15 years. The corporation’s latest monthly financial and operations report showed that out of N₦118.39bn revenue it earned...