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Farooq

Posts Tagged "nnpc"

HomePosts Tagged "nnpc"
  • NNPC
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The Nigerian National Petroleum Corporation (NNPC) has disclaimed the insinuation that it has in its custody $3.5billion subsidy fund. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release today in Abuja, explained that at the hit of the shortage of products supply at the close of last year, the National […]

  • NNPC

The Nigerian National Petroleum Corporation (NNPC) is seeking buyers who will pay $3.5 to $5 billion and get its value in crude oil between five and seven years. NAN reports that the money will be used to fund oil and gas upstream projects and infrastructure. According to the report, Standard Chartered has been hired to advise […]

  • NNPC
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Femi Asu The Nigerian National Petroleum Corporation has said the demand for the nation’s crude oil outstrips the current supply. Last year, Nigeria saw a resurgence of militant attacks in the Niger Delta that caused the nation’s oil production to plummet to a near 30-year low of 1.4 million barrels per day from about 2.2 […]

The Nigeria oil industry lost 773,100 barrels per day to production shut-in due to product theft and pipeline vandalism in the month of May, 2017. At the international Brent price of $52 per barrel, the country lost about $40.20million (N12.30billion) per day. This has however, resulted to the Nigerian National Petroleum Corporation (NNPC) having a […]

  • NNPC

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Makaiinti Baru, has said that Chinese banks has made commitments to bring more money to finance oil and gas investments in Nigeria. The NNPC’s boss, who disclosed this when a delegation of the Nigerian Gas Association led by its President, Engr. Dada Thomas, […]

Nigeria’s refineries – the Port Harcourt Refining Company Limited Port Harcourt Refineries Corporation (PHRC); Kaduna Refining and Petrochemicals Company Ltd. (KRPC); and Warri Refining and Petrochemicals Company Ltd. (WRPC) realised N62 billion from refined products in May 2017. The Nigerian National Petroleum Corporation (NNPC), which made this known in its monthly report released on Tuesday, said that […]

  • NNPC

Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation (NNPC), says the country now produces 2.2 million barrels of crude oil per day. Baru, who was represented by Saidu Mohammed, made this known while speaking at the sixth sustainability in the extractive industries conference, organised by the CSR-in-Action in Abuja. Baru said Nigeria […]

The Nigerian National Petroleum Corporation (NNPC) says Capital Oil is creditworthy despite the N9.1 billion debt owed by the company. Ibrahim Juma Dansure, executive director, finance and accounts, NNPC retail, made this statement while speaking at the investigative hearing of the alleged diversion of petroleum products. Dansure said negotiations were ongoing between the department of […]

Henry Nkem Obi, chief operating officer of the petroleum pricing and marketing company (PPMC), says Capital Oil chairman Ifeanyi Ubah has returned N2 billion out of N11 billion worth of diverted petroleum products. Obi made this known on Wednesday while speaking at the two-day investigative hearing organised by the house committee on petroleum (downstream) on the […]

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By Paul Carsten ABUJA, July 12 (Reuters) – Nigeria supports OPEC’s efforts to stabilize oil prices, but it wants to wait before deciding whether join the cartel’s cuts in oil production, its oil minister said on Wednesday. “Hopefully, in the next two to three months we can see how predictable the production return has been […]