The 800,000-litre vessel intercepted on the coastline of Ondo State was Cameroun-bound, according to NNPC Limited (NNPCL). Tantita Security Services Nigeria Limited, owned by former militant leader Government Ekpemepulo (well known as Tompolo) intercepted the massive vessel carrying barrels of stolen crude oil in Escravos area of Delta State. The effort was said to have been in collaboration with security …

As the Nigerian National Petroleum Company Limited (NNPCL) hands-off the monopoly of petrol importation, petroleum marketers have demanded immediate release of their outstanding supplies of Premium Motor Sprit otherwise known as petrol worth N30.96 trillion by the National oil company. At the Suleja/Abuja Secretariat of the Independent Petroleum Marketers Association of Nigeria (IPMAN), the marketers commended the Federal Government for …

Nigeria has lost an opportunity to produce and sell about 65.7 million barrels of oil in the last one year due to issues bothering on pipeline vandalism and the resultant oil theft. This translates to about N2.3 trillion loss in oil revenue if the prevailing exchange rate and average oil price are used. At the just concluded Nigerian International Energy …

President Muhammadu Buhari has inaugurated the 50 megawatts (MW) Maiduguri emergency power project. Speaking at the occasion on Thursday in Maiduguri, the capital of Borno, Buhari said the project was a testament to his administration’s innovations in the power sector. He said the project showed yet another example of an immediate solution to moving the power sector forward in order …

The Nigerian National Petroleum Company (NNPC) Limited intends to begin drilling for oil in Nasarawa State in March 2023 as part of its ongoing efforts to explore for oil in the nation’s interior basins. The Group Chief Executive Officer of the Company, Mallam Mele Kyari disclosed this when the Governor of the State, Engr. Abdullahi Sule led a delegation of …

Nigeria is in a precarious situation, financially. The federal government claims it doesn’t have money, so it is borrowing, from all sorts of places for all sorts of reasons. Some say that the government is borrowing even to pay the salaries of federal workers. In June, we learnt that the nation is borrowing to pay the interest on the loans …

The Nigerian National Petroleum Company Limited (NNPC Limited) has commended Tantita Security Services, led by former militant commander of the Movement for the Emancipation of the Niger Delta, High Chief Government Ekpemupolo (well known as Tompolo), for recent discoveries of illegal crude oil pipelines. On Saturday, a delegation of NNPC Limited, led by General Manager of the Joint Venture Operations of National …

The Federal Government subsidised petroleum consumption by N2.57 trillion in the first eight months of this year, according to the Nigerian National Petroleum Company Limited (NNPCL). The controversial subsidy bill increased by 17.1 per cent between July and August – from N448.782 billion in July 2022 to N525.71 billion in August – while oil production in August averaged 1.18 million barrels …

The Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mallam Mele has called on the international community to join Nigeria in its battle against crude oil theft. Almost 50 per cent of crude oil produced in Nigeria is lost to thieves. This has greatly reduced oil revenue due to the country. At the Nigeria International Economic Partnership …

Petrol (or fuel) will cost will rise to as much as N462 per litre when the Federal Government eventually removes subsidy by June next year, according to the Nigerian National Petroleum Company Limited (NNPC Limited). It said the average international market-determined landing cost in the second quarter of this year was $1,283 per metric tonne. Marketing and distribution’s cost is …