The Nigerian National Petroleum Company (NNPC) Ltd says it recorded a profit of N2.548 trillion in 2022. The national oil company in its 2022 Financial Performance Report posted online described the profit as the highest since its inception in 1977. The financial report stated that it recorded a loss of N803 billion in 2018 and…

If there’s any organization in Nigeria that is a soft target for slothful critics, it’s most certainly the Nigeria National Petroleum Company Limited (NNPCL). The reasons are obvious. It’s in charge of harnessing Nigeria’s oil and gas reserves, which provides 95 percent of the country’s foreign exchange earnings and 80 percent of its budgetary revenues.…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has denied reports that plans are ongoing to increase the pump price of petrol. There were reports of a clash between fuel marketers and Nigerian National Petroleum Company Limited (NNPCL) over whether the government was still paying subsidy. It was then reported that petrol will now cost…

Nigeria spent N2.7 trillion to import premium motor spirit (PMS), diesel and jet fuel in the third quarter of 2023, data by the National Bureau of Statistics (NBS) have shown.

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said there is no imminent increase in the cost of petrol.

The naira ought to have celebrated its 50th birthday in January 2023, five decades after it replaced the Nigerian pound as the national currency.

Within a week, the Nigerian National Petroleum Company Limited (NNPC) has revealed 322 crude oil theft incidences were recorded in the Niger Delta region.

After a very long time, one arm of our electric power authority had the courtesy to alert us that it would shut down for three days and we would not have power supply for that period. The last time there was a semblance of this, at least within memory for me, was 1975—I stand to…

The Port Harcourt refinery in Rivers State has finally resumed operation after years of being shut down. This follows a $1.5 billion rehabilitation project initiated in 2019 by the former president, Muhammadu Buhari administration to restore its capacity to 210,000 barrels per day, aiming to enhance domestic refining and reduce reliance on imported petroleum products.…

From the Managing Director (MD), Chief Executive Officer (CEO), Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari came the assurances of adequate gas delivery to the citizenry. Speaking during the unveiling ceremony of the Gas Aggregation Company of Nigeria (GACN) new logo and identity in Abuja, Kyari explained that the NNPCL is determined to work…

Managing Director and Chief Executive Officer, Petrocam Trading Nigeria Limited, Patrick Ilo has emphasised the need for Nigerian National Petroleum Company Limited (NNPCL) to enhance its pricing methods towards establishing a fair playing field. He said the call for improvement reflects growing concerns about market dynamics and competitiveness. He made the call at the opening…

Lagos Chamber of Commerce and Industry (LCCI), yesterday, threw its weight behind the recent World Bank report, which berated the opacity and underperformance of the Nigerian National Petroleum Corporation (NNPC) and other Government-Owned Enterprises (GOEs). The World Bank’s Nigeria Development Update (NDU), themed, “Turning the Corner, From Reforms and Renewed Hope to Results” was launched…