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NNPC, Chinese To Begin $2.8bn Abuja-Kano Pipeline Project

NNPC, Chinese To Begin $2.8bn Abuja-Kano Pipeline Project

The Nigerian National Petroleum Corporation (NNPC), China Petroleum Pipeline Engineering Company Limited (CPPECL) and Brantex Consortium, would soon begin work on the Abuja-Kaduna- Kano pipeline, AKK project. The Group Managing Director of the NNPC, Mallam Mele Kyari, gave this indication when he received the President of CPPECL, Sun Quanjun and the head of the Brantex […]

Kachikwu Questions $24 Billion Oil Deals

Kachikwu Questions $24 Billion Oil Deals

Nigeria’s oil minister sent a letter to President Muhammadu Buhari listing at least $24 billion of contracts involving the state oil company that he said were never discussed with him or the firm’s board, a copy of the document seen by Bloomberg shows. Emmanuel Kachikwu, the state minister for petroleum resources, complained in the seven-page, Aug. […]

Kachikwu Writes Presidency, Accuses NNPC Boss of Insubordination

Kachikwu Writes Presidency, Accuses NNPC Boss of Insubordination

Kachikwu, has accused Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Mr. Maikanti Baru, of insubordination, and called for the cancellation of the recent appointments in the NNPC. In a letter written by Kachikwu to President Muhammadu Buhari, the Minister of State said for over one year, he had tolerated the disrespectful and humiliating […]

Reps Give CBN, Others Ultimatum To Account For $22.6bn Oil Blocs

Reps Give CBN, Others Ultimatum To Account For $22.6bn Oil Blocs

 THE House of Representatives Ad-hoc Committee on Oil Prospecting Licences, OPLs, and Oil Mining Leases, OMLs, yesterday, gave the Central Bank of Nigeria, CBN, and others one week ultimatum to provide all relevant documents to ascertain the payments of about $22.6 billion oil blocs from application fees, royalties, signature bonuses and other fees by oil […]

FG Directs NNPC To Explore Alternative Energy Sources

FG Directs NNPC To Explore Alternative Energy Sources

 Worried by incessant attacks on oil installations, especially bursting of gas pipelines by the militants in the Niger Delta, the Federal Government has directed the management of Nigerian National Petroleum Corporation, NNPC, to explore alternative energy sources, with a view to addressing the problems of irregular power supply. The gas pipelines laid across the Niger […]

Nigeria’s Crude Oil Reserves Rise To 37bbls

Nigeria’s Crude Oil Reserves Rise To 37bbls

The relative peace in the Niger Delta has begun to yield dividends as the nation’s crude oil reserves, which had plummeted to 28.2 billion barrels (bbls) at the height of militant attacks on oil infrastructures, have now risen back to 37 billion barrels. Also hauled in is the improved 192 trillion cubic feet of gas […]

Senate Probes NNPC, NPDC Over Unremitted $5.584bn

Senate Probes NNPC, NPDC Over Unremitted $5.584bn

The Senate has mandated its Joint Committees on Petroleum (Upstream and Downstream) and Finance to investigate the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Nigerian Petroleum Development Company (NPDC), over non-remittance of $5.584 billion due to the Federation Account. The Upper Chamber also mandated the NNPC and the NPDC to immediately remit monies […]

Nigeria Reaches A Deal To Pay $5.1 Billion In Unpaid Bills To Oil Majors

Nigeria Reaches A Deal To Pay $5.1 Billion In Unpaid Bills To Oil Majors

Nigeria has reached a deal to pay $5.1 billion in unpaid bills to oil majors including Royal Dutch Shell and Exxon Mobil , the minister of state for oil said on Thursday. The Nigerian National Petroleum Corporation (NNPC), the OPEC member’s state oil firm, has amassed a total of $6.8 billion in unpaid bills up […]

Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

After months of pressure mounted by northern interests led by Dr. Maikanti Kacalla Baru, a former Group Executive Director, Exploration and Production of the Nigerian National Petroleum Corporation (NNPC) to be made the Group Managing Director (GMD) of the state-run oil firm, President Muhammadu Buhari finally succumbed monday when he removed Dr. Emmanuel Ibe Kachikwu […]

Buhari Constitutes NNPC Board And Appoints New GMD

Buhari Constitutes NNPC Board And Appoints New GMD

President Muhammadu Buhari has approved the composition of the Board of the Nigerian National Petroleum Corporation (NNPC), as provided for under Section 1(2) of the Nigerian National Petroleum Corporation Act of 1997, as amended. Mr. Buhari also removed Ibe Kachikwu as group managing director of the corporation, a statement by presidential spokesperson, Femi Adesina, showed. […]

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