NNPC Limited remains the Concessionaire of the assets in line with extant laws and regulations. The Nigerian National Petroleum Company (NNPC) Limited has taken over the assets of Addax Petroleum Development (Nigeria) Limited. This is coming three months after the execution of the Addax Transfer, Settlement, and Exit Agreement (ATSEA) for the PSC Oil blocks, … [Read more…]
These are challenging times for the federal and state governments as one major source of income to the federation account seems to be totally cut off. On Monday, The National Petroleum Company Limited (NNPC) revealed it failed to remit monies to the federation account in May 2022 despite making N470.61 billion. This is the fifth … [Read more…]
THE Nigerian National Petroleum Corporation, NNPC, Tuesday, increased the daily loading of Premium Motor Spirit, PMS across the country from 550 to 1,661 trucks in order to eliminate long queues in Abuja and other parts of Nigeria. A statement by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the Managing … [Read more…]
The House of Representatives Committee on Public Accounts has stated that the Nigeria National Petroleum Corporation must account for the alleged illegal withdrawals from the Federation Account in 2017, totaling N1.3tn. Chairman of the committee, Oluwole Oke (PDP-OSUN), stated this in Abuja on Tuesday at the committee’s investigative hearing on audit queries issued … [Read more…]
The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded a total of ₦158.04 billion from the sales of white products in the month of October 2020. The Corporation disclosed this on its October Monthly and Financial Operation Report (MFOR) in Abuja, on Thursday. … [Read more…]
The Nigerian National Petroleum Corporation on Sunday announced a total export receipt for crude oil and gas valued at $120.49m for the month of September 2020. NNPC’s Group General Manager, Group Public Affairs Division, Kennie Obateru, said the figure was contained in the September 2020 edition of the corporation’s Monthly Financial and Operations Report. He … [Read more…]