Refineries’ Rehab, Oil Search, Pipeline Gulp N21bn — NAPIMS       The National Petroleum Investment Management Services, NAPIMS, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, invested N21.47 billion to rehabilitate the nation’s refineries, the Nigeria-Morocco gas pipeline and oil search in the frontier basins, among...

NNPC Cuts Losses In Four Refineries By 53%         The Nigerian National Petroleum Corporation, NNPC, has cut down losses by 53 per cent in the first 10 months of 2020, due to none production in the nation’s four refineries, according to data obtained from its October...

Petrol Retailers Seek Collaboration With FG On Refineries’ Repair       The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed its readiness to collaborate with the federal government in revamping the four non-functional refineries in the country if called upon by the federal government. The...

Nigeria’s Idle Refineries Record N6bn Operational Expenses       Without production, Nigeria’s three national refineries recorded N6 billion operational expenses last October. The total value of output by the refineries for the period under review was N0.51billion, which resulted in an operating deficit of N5.49 billion by the...

Refineries Lost N152.08bn In 15 Months Of Being Idle         The nation’s refineries lost a total of N152.08bn in 15 consecutive months of being idle, the latest data from the Nigerian National Petroleum Corporation have shown. Analysis of data collated from NNPC monthly reports revealed that all...

Three Refineries Incur N5.92bn Expenses At Zero Production - NNPC         The Nigerian National Petroleum Corporation (NNPC) has reported its three refineries incurred N5.92 billion expenses in September 2020 at zero production level. According to its September 2020 Financial and Operations Report, which The Economic Confidential obtained...