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NNPC to Transform into Integrated Energy Company

The ongoing reform of the Nigerian National Petroleum Corporation (NNPC) is geared towards transforming it from an oil and gas company into an integrated energy outfit with interest in power generation and transmission. This was disclosed by the Group Managing Director of NNPC, Dr Maikanti Baru, at the 53rd International Conference and Exhibition of the Nigerian Mining and Geosciences Society (NMGS) in Abuj ...

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Crude Swap Under-Deliveries: AITEO Settles $202 million Outstanding Obligations

In line with its pledge to provide members of the public with periodic updates on its recovery efforts for crude swap under deliveries, the Nigerian National Petroleum Corporation (NNPC) is pleased to confirm that it has now reached a final settlement with AITEO Group. The NNPC in a recent release by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu said in line with the ongoing reforms ...

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UPDATE: $184m Crude Swap: NNPC Reaches Agreement With Taleveras, Two Others

The Nigerian National Petroleum Corporation(NNPC) yesterday said it has reached a settlement agreement with Taleveras Group of Companied and two other companies involved in the $184 million crude oil swap. The others are AITEO Energy Resource Limited, Ontario Oil. NNPC commended Taleveras and other companies involved in the crude swap for reconciling their accounts and agreeing on a settlement plan to bring ...

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NNPC Commeds Taleveras, Prepares To Recover $184 Million Crude SWAP Under-Deliveries

The Nigerian National Petroleum Corporation, NNPC has commended Taleveras, one of Nigeria’s oil companies for its cooperative attitude in the ongoing reconciliation of transactions in the defunct crude for products arrangement. Group Managing Director (GMD), Nigeria National Peteoleum Corporation (NNPC), Dr. Maikanti Baru made this commendation while revealing NNPC's strategies to recover over $184 million ...

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Ex-NNPC boss, Yabuku Gets N300m Bail, Remanded in Prison

(EFCC Press release) Justice A. R. Mohammed of the Federal High Court sitting in Maitama, Abuja on Tuesday, March 21, 2017 granted bail to Andrew Yakubu, a former Group Managing Director, GMD, Nigerian National Petroleum Company, NNPC, who is standing trial on charges of money laundering, non disclosure of assets and fraud. He was admitted to bail in the sum of N300million with two sureties in like sum. One ...

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NNPC To Generate 4,000 Megawatts Power

The Nigerian National Petroleum Corporation, NNPC will generate about 4, 000 megawatts of power in the next ten years to boost the supply in the country. This was disclosed by the Corporation’s Chief Operating Officer (COO), Gas and Power, Engr. Saidu Mohammed, at the 2017 retreat of his Autonomous Business Unit, ABU (Gas and Power), in Kaduna, saying this would be achieved through building independent powe ...

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NNPC Announces New Measures to Ensure Robust Products Supply

The Nigerian National Petroleum Corporation has in stock, a robust inland supply of over 1.2 billion litres of petrol sufficient for more than 34 days forward consumption. The Corporation’s product supply outlook for March to May, 2017, shows that steps have been taken to ensure adequate supply of diesel and aviation fuel. For Automotive Gas Oil and Aviation Turbine Kerosene, NNPC will continue to import to ...

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Oil and Gas Union Lauds NNPC For Sanitizing Distribution Of Petroleum Products

The Oil and Gas Trainers’ Association (OGTAN) has commended the management of the Nigerian National Petroleum Corporation (NNPC) under the leadership of the Group Managing Director, Dr. Maikanti Baru, for sanitizing the distribution channels of petroleum products in the country. President of OGTAN, Dr. Mayowa Afe, gave this commendation during a courtesy visit to the GMD at the NNPC Towers, Abuja, on Thursd ...

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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. Providing details of the act by the companie ...

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Embattled Baru Hails Paradigm Shift In NASS, NNPC Relations

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, has commended the 8th National Assembly over the improved relations between the Corporation and the lawmakers. Dr. Baru gave this commendation during an interactive session between the Management of NNPC and members of the House of Representatives Committee on Local Content at the NNPC Towers in Abuja. He de ...

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NNPC Asks NASS To Pass PIB For Oil Industry Stability

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, Dr. Maikanti Baru, made this plea while speakin ...

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IPMAN Suspends Planned Strike

The leadership of the Independent Petroleum Marketers Association of Nigeria, IPMAN, on Monday announced the suspension of a scheduled nationwide strike following a meeting with the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru in Abuja. Chairman of the IPMAN Committee on FOREX Intervention, Products Sourcing and Distribution, Alhaji Musa Felande, said the m ...

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