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Lagos, South Africa and New York
Sunday, May 31, 2020

No plan to increase price of PMS – NNPC

05 April 2017, Lagos – The Nigerian National Petroleum Corporation, NNPC, said in a statement Tuesday that the Federal Government had, PMS – more popularly known as petrol. It was reacting to insinuations that Monday’s increase in the bridging allowance to transporters from  N6.20 to ...

UK Court Acquits Nigeria’s NNPC of Paying $100m Bank Guarantee to IPCO

The Nigerian National Petroleum Corporation (NNPC) on Tuesday disclosed that it has secured a unanimous judgment from the Supreme Court of the United Kingdom, granting it reprieve from paying $100 million bank guarantee to a service company, IPCO Nigeria Limited, in a case filed against...

NEITI says NNPC’s NPDC failed to remit $21.778b to F/Account

The Nigeria Extractive Industries Transparency Initiative (NEITI) says the Nigerian National Petroleum Corporation (NNPC) and its upstream arm, the Nigerian Petroleum Development Company (NPDC), have failed to remit $21.778 billion and N316.074 billion respectively to the Federation Account. NEITI in a policy brief released on...

Nigeria oil tanker drivers strike over pay

ONITSHA, Nigeria, April 3  - Nigerian oil tanker drivers launched a strike on Monday over low wages and poor roads which will threaten to choke off supply until the workers' requests are met. The oil tanker drivers from Nigeria Union of Petroleum and Natural Gas...

NNPC Meets Tanker Drivers Over Industrial Action

The Nigerian National Petroleum Corporation has convened a meeting to thrash out the issues listed by the tanker drivers’ arm of the Nigeria Union of Petroleum and Natural Gas workers (NUPENG), as cause of their industrial action. The meeting which is scheduled for this afternoon...

Nigeria’s gas flaring slumped by 26% in ten years

The Nigerian National Petroleum Corporation, NNPC, says it has succeeded in reducing gas flaring in the country by 26 per cent in the last ten years. The corporation said the reduction, which has pushed Nigeria down from the second highest gas flaring nation to the...

NIPCO takes over majority stake in ExxonMobil

• Launches N60.2b bid for minority shares NIPCO Investments Limited, a subsidiary of NIPCO Plc, at the weekend took over the 60 per cent majority equity stake of ExxonMobil Oil Corporation in Mobil Oil Nigeria Plc. This is coming on the heels of the $301million acquisition...

Nigeria, Shell, Agip to Sign FID for $13.5bn Zabazaba Deepwater Project in Q2 2017

  Target first oil in 2020 By Ejiofor Alike The federal government, Shell and the Nigerian Agip Exploration Limited (NAE) will sign the Final Investment Decision (FID) for the $13.5 billion Zabazaba Deepwater project located in Oil Prospecting Lease (OPL) 245 in the second quarter of...

‘Nigerians need 3m cooking gas cylinders annually’

The Nigerian Content Development and Monitoring Board (NCDMB) says that Nigerians need no less than three million Liquefied Petroleum Gas (LPG) also, known as cooking gas cylinders, annually. Mr Simbi Wabate, the Executive Secretary of the Board, disclosed this to the News Agency of Nigeria...

SPDC links LiveWIRE beneficiaries to $.8m growth fund

02 April 2017, Naija247news, Port Harcourt — Twenty-eight beneficiaries of the Shell Nigeria LiveWIRE programme are now retooling to get a good share of the $800,000 growth fund for 2017 provided by Grofin Investment. Grofin is a business development financier supporting viable, growth-oriented small enterprises...