There is no decision yet by the Federal Government to sell the shares of the NNPC Limited to the public through an Initial Public Offering (IPO), according to The PUNCH. An online medium reported on Wednesday that the NNPCL missed the deadline for the launch of its IPO, stating that this was contained in the national oil company’s latest quarterly …

Large consignments of Premium Motor Spirit (popularly called petrol or fuel), being imported by major oil marketers, are to hit Nigeria from next week and may force down the price of the commodity, both major and independent dealers stated on Sunday. It was also gathered that crude oil refiners were currently releasing refined petroleum products on credit to dealers from …

The Nigeria-Morocco Gas Pipeline Project has advanced with the signing of four Memoranda of Understanding (MoU) to ensure progress and strategic direction of the 25 billion dollar Trans-Atlantic gas pipeline project. According to a report by the News Agency of Nigeria (NAN), the four MoUs were signed on Friday in Abuja at the Economic Community of West African States (ECOWAS), Headquarters during …

The Federal Government, on Wednesday, confirmed that other oil marketers have joined in the importation of Premium Motor Spirit (PMS), popularly called petrol, following the recent removal of subsidy on the commodity. It revealed that about three mega oil marketers were currently expecting PMS cargoes in July, while many others had applied for licences to import the product, as the …

Standard Chartered Bank Nigeria Limited has debunked reports that the bank is closing its branches in Nigeria. The House of Representatives Ad Hoc committee on the assets and liabilities of the NNPC Limited had reportedly stated that “Standard Chartered Bank is closing all its Nigerian branches and the nation has so much to worry about, considering the huge funds warehoused …

NNPC Limited has released a new ex-depot price of N479.50 per litre of Premium Motor Spirit (PMS) petrol to the marketers. Marketers are believed not to be against the subsidy removal but are worried that the NNPCL is giving them the product paid for at the old rate since eight months ago for the new rates. They are said to …

The Group Managing Director of NNPC Limited, Malam Mele Kyari has revealed that the administration of President Bola Tinubu has concluded an arrangement to have one of the four refineries repaired and operating at an optimal level before the end of the year. Kyari made the revelation when he visited the party secretariat for a meeting with the National Chairman …

Group Chief Executive Officer of NNPC Limited, Malam Mele Kyari has said that contrary to speculations, the Muhammadu Buhari administration did not make provisions for petroleum subsidy in the 2023 budget. At a meeting with the Senator Abdullahi Adamu-led APC National Working Committee of the All Progressives Congress, held at the party’s National Secretariat in Abuja earlier today, Kyari said: “There …

The Group Chief Executive Officer of NNPC Limited, Malam Mele Kyari has given assurances that competition among major players in the oil sector would force down the price of petrol in spite of the upward trends that have caused panic in the country. Yesterday, fuel price skyrocketed from N195 per litre (officially) to between N488 and N557 per litre, depending …

NNPC Limited on Thursday announced the renewal of the Oil Mining Lease (OML) 130 production sharing contract, and the conversion of the acreage to a Petroleum Mining Lease (PML) in accordance with the provisions of the Petroleum Industry Act 2021. At a ceremony presided over by the Permanent Secretary of the Federal Ministry of Petroleum Resources, Ambassador Gabriel Aduda, inside …