Energy articles

NNPC Moves to Recover N11bn Missing Petrol from Capital Oil

NNPC Moves to Recover N11bn Missing Petrol from Capital Oil

The Nigerian National Petroleum Corporation (NNPC) on Friday announced measures to achieve full recovery of over 130 million litres of Premium Motor Spirit (PMS), also known as petrol, stored in the facilities of two indigenous downstream operators, MRS Limited and Capital Oil & Gas Limited, under a throughput arrangement to ensure a robust strategic reserve.

BREAKING: Malabu Scandal: Court returns OPL 245 to Shell, ENI

An Abuja Division of the Federal High Court has reversed its previous ruling which retrieved the control of one of Nigeria’s richest oil blocks, OPL 245, from Shell and ENI. The court had on January 26, issued an order, based on a motion by the Economic and Financial Crimes Commission, retrieving the ownership of the

BREAKING: Malabu Scandal: Court returns OPL 245 to Shell, ENI

An Abuja Division of the Federal High Court has reversed its previous ruling which retrieved the control of one of Nigeria’s richest oil blocks, OPL 245, from Shell and ENI. The court had on January 26, issued an order, based on a motion by the Economic and Financial Crimes Commission, retrieving the ownership of the

Reps caution military against destroying illegal refineries

The House of Representatives has urged the military to desist from destroying illegal refineries in the country and adopt a global and a more standard system of dealing with it. The lawmakers made the call on Wednesday after adopting a motion by Chidi Wihioka (Rivers-APC) on the need to address the menace of hazardous soot

NNPC clarifies subsidiary spending on staff transfer

National Petroleum Investment and Management Services, NAPIMS, a Corporate Services Unit of the Nigerian National Petroleum Corporation, NNPC, did not spend $9million on staff transfer alone, neither did it commit $2million to vehicles maintenance only, The NNPC has stated. A statement issued on Tuesday by Ndu Ughamadu, Group General Manager, Group Public Affairs Division of

NNPC calls on NASS to pass PIB bill for stability in oil industry

The Nigerian National Petroleum Corporation (NNPC) has urged the National Assembly to pass the Petroleum Industry Bill (PIB) into law to dispel the air of uncertainty around the industry, create an enabling environment for the industry to flourish and dissuade the International Oil Companies (IOCs) from exiting the country. Group Managing Director of the NNPC,

Reps summon Emefiele over alleged $17 billion undeclared oil sales

The House of Representatives ad hoc Committee investigating the alleged stolen $17 billion oil and gas sales on Thursday ordered Governor of Central Bank of Nigeria (CBN) Godwin Emefiele, to appear before it within one week. The money was allegedly stolen through undeclared crude oil and liquefied natural gas export. The committee threatened to issue

NNPC records massive reduction in pipeline vandalism

The Nigerian National Petroleum Corporation (NNPC) recorded a marked reduction in the cases of pipeline sabotage. This was disclosed in the Corporation’s monthly Financial and Operations Report for the month of December 2016 which has just been released. According to the report, only 18 cases of vandalized points on downstream pipelines were recorded in November

How top NNPC officials, foreign oil companies, rip Nigeria off through refining of crude

Declining revenue from oil many not be due to the result of activities of militants in the Niger Delta alone as the Federal Government and Nigerians believe. Nigerian Times investigations show that senior officials of the state owned oil behemoth, the Nigerian National Petroleum Corporation (NNPC), have been helping themselves with proceeds from the 450,000

Malabu $1.1 billion Fraud: Shell, Eni want Nigeria’s richest oil block back

Two multinational oil firms have challenged the propriety of the Nigerian government withdrawing a major oil block from them. Shell and Eni, through their Nigerian subsidiaries, asked a Federal High Court to reverse an order that revoked the award of OPL 245 to them. Justice John Tsoho of the Federal High Court had on January

Ascribing relevance to Nigeria’s OGP National Plan

By Bob MajiriOghene Etemiku Last week, very senior officials of the Nigeria Extractive Industries Transparency Initiative, NEITI, had a very productive meeting with the newly constituted NDDC board. Four key issues emanated from a press statement released therefrom. One was the prompting from NEITI to the NDDC to carry out a corruption risk assessment to

NNPC announces measures to sustain products supply nationwide

The Nigerian National Petroleum Corporation has announced elaborate measures to sustain supply of Premium Motor Spirit, (petrol), Automotive Gas Oil, diesel, and Dual Purpose Kerosene, DPK, otherwise called kerosene, nationwide. These measures include: increasing the February supply of Premium Motor Spirit (PMS), by six additional cargoes to the existing national PMS sufficiency of over 32

NEITI/NDDC partnership. boost for transparency says ANEEJ

The Africa Network for Environment and Economic Justice, ANEEJ, has expressed delight with the recent announcement of a partnership between the Nigeria Extractive Industries Transparency Initiative, NEITI, and the Niger Delta Development Commission, NDDC, saying that it has great potential to help firm up the enthronement of transparency and accountability in the operations of the

NNPC to implement framework for greater efficiency, profitability

The Nigerian National Petroleum Corporation is set to implement a lead policy framework, the 12 Business Focus Areas (BUFA), aimed at institutionalizing efficiency, profitability and growth in the Corporation. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, stated this while receiving the reports of the eight committees mandated with

Controversy trails presidential directive to reinstate sacked power company manager

A controversy is brewing at the presidency over an alleged discountenance of a directive by President Muhammadu Buhari for the reinstatement of a senior official disengaged last year from the Niger Delta Power Holding Company Nigeria Limited, NDPHC. President Buhari was reported to have directed the Offices of the Vice President, Secretary to the Government

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