NNPC
NNPC assures will continue to meet financial obligations to FAAC
The Nigerian National Petroleum Corporation (NNPC) has clarified that the revenue projection contained in the letter to the Accountant General of the Federation being cited in the media pertains only to the Federation revenue stream being managed by the Corporation and not a reflection of the overall financial performance of the Corporation. A press release by the Corporation’s spokesman, Dr. Kennie Obateru, stated that the clarification became necessary in the light of media reports insinuating that the Corporation was in financial straits. NNPC maintains that it is conscious of its role and was doing everything possible to shore up revenues and support the Federation at all times. “The shortfall will be remedied by the Corporation as it relates only to the Federation revenue stream being...
NNPC to partner Borno government to establish gas power plant
The Group Managing Director, Nigeria National Petroleum Corporation (NNPC), Alhaji Mele Kyari has said that the corporation will partner with Borno State Government to establish a Gas Power Plant following the vandalization of the national grid by insurgents which put the state almost three months into total blackout. Kyari who led a powerful delegation on a courtesy call on Governor Babagana Umara Zulum on Friday said, the Federal Government will not fold its arms and neglect the state which is been ravaged by insurgents, especially cut off from the national grid, as power is a source of income to the teaming people of the state. “We are here with my colleagues, the Head of Gas and Power Business, Engineer Yusuf Usman, Representatives of Greensville Liquefied Natural Gas (LNG), which is a...
Minister: PIB will address production sharing contracts issues on gas
The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Petroleum Industry Bill (PIB) currently before the National Assembly will resolve the issues under the Production Sharing Contracts (PSC) on gas. Sylva made this known at a National Assembly Public Hearing organised by the Joint Committee on Gas Resources, Petroleum Resources, Upstream and Downstream, on Monday, in Abuja. The hearing was on the topic: “Inclusion of Gas Terms in Production Sharing Contracts by the Nigerian National Petroleum Corporation (NNPC).” He said that issues on gas terms was not captured under the PSC especially with the commercial aspect. “Issues on gas terms was not captured in the PSC because at the time, the offshore was just a frontier territory, today, it is no longer frontier, it is a...
NNPC declares N13.43 billion trading surplus for November 2020
The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru Obateru said the trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review. The report indicated that in November, NNPC Group’s operating revenue as compared to October 2020, decreased slightly by 0.02 per cent or N0.09billion to stand at N423.08 billion. Similarly, expenditure for the month decreased by 1...
PDP tasks Joe Biden to sanction APC leaders, officials for ‘corruption, assault on democracy’
The Peoples Democratic Party, PDP, has commends United States President Joe Biden for lifting the immigration visa restrictions on regular Nigerians but urged him to impose firm sanctions on leaders of the All Progressives Congress (APC) and officials of the Buhari administration involved in acts of corruption and undermining our nation’s democracy. The post PDP tasks Joe Biden to sanction APC leaders, officials for ‘corruption, assault on democracy’ appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share...
NNPC seeks $1 billion funding to revive PHC refinery
The Nigerian National Petroleum Corporation, NNPC, is currently shopping for $1 billion to revamp Nigeria’s biggest refinery located in Port Harcourt, Rivers State. To realise its plans, the nation’s oil company is already in high-level discussion to raise the money via a prepayment deal with trading firms. If the financing is successful, the long overdue rehabilitation of the refinery should reduce Nigeria’s hefty fuel import bill. It would also mark Nigeria’s second oil-backed financing since the COVID-19 pandemic that has added to the difficulty of finding investors as fuel demand is sapped by lockdowns and renewable energy is gaining ground over fossil fuels. The money would be repaid over seven years through deliveries of Nigerian crude and products from the refinery once the refurbis...
AKK gas pipeline at 15 percent completion – NNPC chief
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, says the construction of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is currently at 15 per cent completion. Kyari disclosed this at the inspection of the second leg of the project at Karogo community in Igabi Local Government Area, Kaduna State, on Tuesday. “The project is currently at about 15 per cent completion but what is important for us to know is that we are crossing the river Niger, what we call the Ndoni-Aboh river crossing in Rivers and Delta states that will deliver gas from the eastern part to the country into the western corridor. “That means expanding gas supply into the help line and also making gas ready. We are happy that this project is going on and we will deliver it...
APC chieftain alleges plan to destabilize party using courts in Rivers
Chris Finebone, a chieftain of All Progressives Congress, APC, claims he has uncovered plans by a group working in cohort with the Rivers government to use the state judiciary to destabilize the party. Finebone, a former spokesperson for the party in Rivers made the allegation in a statement on Tuesday. He alleged that Governor Nyesom Wike and the Rivers chapter of PDP hatched the plot to destabilize the APC nationwide by making available Rivers State courts to enemies of the party (within and from outside the State) to file all manner of cases against it with a view to destabilizing the party as politics of 2023 approaches. Finebone further claimed that he learned from sources he did not disclose that the decision to use Rivers Courts was hatched at the highest level of government directl...
Nigeria most expensive for upstream projects – NNPC chief
The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed that Nigeria remains one of the most expensive countries in the world for petroleum upstream projects. Upstream is refers to points in production that originate early on in the processes of crude oil production. Its activities include exploration, drilling, and extraction. Kyari made this known at the Nigerian Content Tower in Yenagoa, Bayelsa State during a review meeting with the Permanent Secretary, directors and chief executives of agencies in the Petroleum ministry. According to him, “Nigeria is one of the most expensive territories in the world for upstream projection and part of the corporation’s mandate is to reduce cost by at least five percent. “We have reduced costs substantiall...
Labour denies endorsing petrol price hike
Labour unions are demanding a reversal of recent hike in the petrol price and did not endorse deregulation that is anchored on price hike. The post Labour denies endorsing petrol price hike appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus
Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation (NNPC) says he is optimistic that the corporation will declare dividends in 2020 in spite of the challenges posed by the COVID-19 pandemic. The post Mele Kyari: NNPC will declare dividends in 2020 in spite of coronavirus appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Nigerian government signs fuel transportation, storage deal with Niger Republic
The Federal Government, yesterday, signed a Memorandum of Understanding, MoU, with the Republic of Niger for the transportation and storage of petroleum products. The post Nigerian government signs fuel transportation, storage deal with Niger Republic appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
