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NNPC
Oil marketers have blamed the fresh scarcity of petrol on the supply challenges from the Nigerian National Petroleum Company (NNPC) Limited, the major oil supplier.
The Socio-Economic Rights and Accountability Project (SERAP) has initiated a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited, citing the company’s inability to account for and clarify the location of the purported missing $2.04 billion and N164 billion in oil revenues.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has attributed the recent scarcity of fuel in some regions of the country to logistical problems impacting the distribution of the product in those areas.
After releasing the FY 2022 financial statements, Oando Plc has issued a press statement to address its net loss of N81.2 billion incurred in 2022, citing militancy and pipeline vandalism as major culprits.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner in the Awoba Unit Field, Newcross Exploration and Production Ltd., have resumed production crude oil in Awoba Field, River State, for the first time since 2021.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), aim to achieve an average oil production of 20,000 barrels per day on the new OML 85 platform in Bayelsa State.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said on Monday that the country’s oil and gas reserves were at 37.50 billion barrels as of January 1, 2024, up from 37.046 billion barrels in May 2022.
The price of crude oil is expected to rise further on Monday, above the $90 benchmark, after Iran’s attack on Israel over the weekend, analysts said on Sunday.
Nigeria has yet to clear more than half of its scheduled crude oil cargoes for May as unsold crude oil starts to build up in the oil market.
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mele Kyari, has said that Nigeria has a huge opportunity to drive economic growth and industrial revolution by leveraging on its over 200 trillion Cubic Feet (Tcf) of Gas Reserves.
Nigeria National Petroleum Commission (NNPC) owes around $3 billion to oil traders for imported petrol, according to a recent report by Reuters.
The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company (NNPC) Limited to provide an account and clarification regarding the alleged disappearance of USD$2.04 billion and N164 billion in oil revenues within a span of seven days.