Another hike in the pump price of Premium Motor Spirit (popularly called petrol or fuel) is imminent, marketers warned on Sunday. They blame the situation on the increased cost of crude oil and depreciation of the Naira. Crude oil cost and the exchange rate account for over 80 per cent of the cost of PMS. Brent crude, the global benchmark …

The Nigerian National Petroleum Company Limited (NNPCL) has appointed new executive vice presidents for the upstream, downstream and gas sectors. The appointment was announced  by the company’s Chief Corporate Communications Officer, Garba Deen Muhammad and made available to the public via NNPCL’s official handle on X(formerly Twitter). PRESS RELEASE NNPC LTD. MAKES SENIOR MANAGEMENT CHANGES In line with NNPC Ltd.'s …

The Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari, and the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (MMDPRA), Farouk Ahmed, yesterday shunned a probe of irregularities and alleged corruption in the NNPCL. The probe, carried out by the House of Representatives ad hoc committee, headed by Hon. Abubakar …

The House of Representatives  Ad-hoc Committee on Crude Oil Theft has insisted that the heads of the Nigeria National Petroleum Ltd, (NNPCL); Nigeria Maritime Administration and Safety Agency, (NIMASA) and the Nigeria Inland Waterways Authority, (NIWA) must appear physically for investigation. The chairman, Hon. Alhassan Rumrum, gave this indication at the resumed hearing of the panel yesterday when heads of …

NNPC Limited (NNPCL) has partnered with NIPCO Group to deploy 35 Compressed Natural Gas (CNG) stations nationwide. NNPCL Group Chief Executive Officer, Malam Mele Kyari said the initiative is in addition to the phased deployment of 56 CNG stations planned by NNPCL Retail across the country. He said at a briefing that once the partnership takes off, the stations could …

A pattern has emerged in the arguments many of the partisan and ideological critics routinely make on television stations. There is this tendency to always muddle up facts and mislead the public, notably through willful ignorance. One point that has been erroneously made is the view that the Federal Government is not doing anything about fixing the four refineries it …

The Group Chief Executive Officer of the NNPC Limited, Malam Mele Kyari has attributed the rise in petrol pump prices in Nigeria to market forces. This follows a recent price increase from N540 to N617 per litre, which he said reflects the dynamics of a market-regulated pricing model. After a closed-door meeting with Vice President Kashim Shettima at the State …

The Group Chief Executive Officer of NNPC Limited, Malam Mele Kyari, on Thursday, announced that the company would be constructing another international gas pipeline worth about $8 billion. NNPCL and its partners are currently working on the construction of the $25 billion Nigeria-Morocco gas pipeline that is to supply gas from Nigeria to about 11 African countries and transport the …

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 …