By Jemimah Wellington, JKNMedia Reporter THE FEDERAL Executive Council (FEC) has directed the Nigerian National Petroleum Corporation (NNPC) to start selling crude oil to local refineries, including Dangote Refinery. This move aims to stabilize refined fuel prices and the dollar-Naira exchange rate. Under President Tinubu’s new strategy,...
By Joke Kujenya THE NIGERIAN National Petroleum Corporation (NNPC) Ltd disclosed it has identified the cause of the recent fuel shortage in Lagos and Abuja. A discharge hitch involving several vessels led to the disruption. Olufemi Soneye, Chief Corporate Communications Officer at NNPC Ltd, shared this information in a statement from Abuja on ...
By Joke Kujenya MELE KYARI, Group Chief Executive Officer of NNPC Limited, urged Alhaji Aliko Dangote, President of Dangote Industries, to disclose the identities of workers allegedly operating a blending plant in Malta. Kyari insists these individuals should be reported to government security agencies for necessary actions. Dangote accused so...
By Joke Kujenya FORMER GROUP Managing Directors (GMDs) of the Nigerian National Petroleum Corporation (NNPC) expressed support for the current leadership’s efforts at a CEO Forum in Abuja. The forum, held on July 20, 2024, brought together former GMDs, senior management, and key stakeholders to review NNPC’s progress since the implementa...
By Helen Okechukwu, JKNMedia Reporter THE NATIONAL Assembly has expressed its backing for the Nigerian National Petroleum Corporation (NNPC) in boosting oil production and tackling oil theft. This announcement followed the Assembly’s Joint Committee on Petroleum Resources (Upstream) visit to the NNPC Upstream Investment Management Servic...
By Joke Kujenya THE NIGERIAN National Petroleum Company (NNPC) Limited has cut its stake in the Dangote Petroleum Refinery. Aliko Dangote announced on Sunday that NNPC now holds only 7.2% of the refinery, down from 20%. Femi Soneye, NNPC’s spokesperson, confirmed the decision. NNPC says it had informed Dangote Refinery months ago that it...
By Bola BOLAWOLE THE RICHEST man in Africa, Alhaji Aliko Dangote, stirred the hornet’s nest recently when he accused the International Oil Companies (IOC) operating in Nigeria of sabotaging his efforts to put an end to the embarrassing, ridiculous and neck-breaking importation of refined fuel products by Nigeria. Although Dangote exonerated th...
By Joke Kujenya THE NIGERIAN National Petroleum Company (NNPC) Limited clarified that it is not currently pursuing a new $2 billion oil-for-cash loan deal, countering recent reports. The NNPC stated that it would make an official announcement if it decided to proceed with such initiatives. Recent reports had suggested that NNPC sought a $2 bil...
By Joke Kujenya NIGERIA’S STATE-run Nigerian National Petroleum Corporation (NNPC) has disclosed it is actively negotiating a new $2 billion oil-backed loan to stabilize operations and address financial challenges intensified by economic pressures. The loan, proposed against 30,000-35,000 barrels per day of crude production, aims to bols...
By Joke Kujenya THE NIGERIAN National Petroleum Corporation (NNPC) has addressed the recent surge in petrol prices at filling stations across the country, attributing the situation to disruptions caused by severe weather conditions. On July 8, 2024, Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, explained that the fuel que...
