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 …

Tantita Security Services Nigeria Limited, a private security outfit engaged by the Nigerian National Petroleum Company Limited (NNPC Limited) has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State. The NNPC Limited’s security contractor and the Nigerian security operatives on Saturday also set ablaze the 1,000 metric tonnes capacity barge used in conveying …

A Non-Governmental Organisation, Justice Now Coalition has called on the Federal Government to obey the court judgement on the case of wrongful removal of Senator Ifeanyi Araraume as non-executive Chairman of the board of the Nigeria National Petroleum Company Limited (NNPCL). In a statement by its National Coordinator, Tony Erha, the group said compliance with the court order would impress …

A Federal High Court in Abuja on Tuesday restored Senator Ifeanyi Godwin Ararume as non-Executive Chairman of the Nigeria National Petroleum Company Limited (NNPCL). The court voided the sack of the businessman and set aside his removal effected on 17th January 2023 by President Muhammadu Buhari on the ground that the action of the President was “arbitrary, unlawful and illegal”. …

The appointments of Malam Mele Kyari and Mr Umar Ajiya to the Nigerian National Petroleum Company Limited (NNPC Ltd) have nothing to do with their careers in the old NNPC, according to the Chief Corporate Communications Officer of NNPC Limited, Mr Garbadeen Muhammad. In a statement on Wednesday night, Muhammad said before their new appointments, Kyari and Ajiya were Group …

The Senate on Wednesday indicted 37 Ministries, Departments, and Agencies (MDAs) of the Federal Government for various financial infractions. The alleged offences are contained in the 2016 report of the Auditor General of the Federation (AuGF) which was adopted by the Senate. The resolution of the Red Chamber followed its consideration of the report of the Senate Public Accounts Committee …

NNPC Limited on Tuesday officially took over Oil Mining Lease (OML) 123/124 and 126/137, operated by Addax Petroleum Development (Nigeria) Limited after concluding all transaction obligations. The deal ends a 24-year production-sharing contract arrangement between both parties. In a statement by its Chief Corporate Communications Officer, Garba Deen Muhammad in Abuja, NNPCL said the transfer was achieved three months after …

The National Association of Energy Correspondents (NAEC) has called on the NNPC Limited and Nigerian Upstream Regulatory Commission to find a lasting solution to the lingering fuel scarcity in the country. A statement signed by the association’s chairman, Olu Phillips, and secretary, John Meze, lamented that the development has led to man-hour loss, which ought to have been put into …

The NNPC Limited has said that it has established a Build, Operate and Transfer (BOT) plan for the renovation of pipelines and depots around the nation. It added that the initiative would successfully diversify the means of delivering petroleum products around the country, and that contracts for the BOT will be granted to successful investors this year. At the 23rd …