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NNPC Limited’s Bright Business Outlook
By Nasiru Omar When the Petroleum Industry Bill was signed into law in July 2021, some of its key objectives were make the NNPC Ltd to operate as a commercial entity and do its business profitably, pay taxes like every…
NCDMB clears the path to speedy oil projects
Binds NNPC, IOCs in SLAs Sopuruchi Onwuka In a first regulatory audacity of its kind, the Nigerian Content Development and Monitoring Board (NCDMB) has committed the biggest players in the Nigerian petroleum industry to speedy execution of approved projects and…
NAOC Divestment: Time to dismantle transaction clogs
Sopuruchi Onwuka It has become necessary and even urgent for regulators in the industry to evolve a smooth process for implementation of the relevant sections of the Petroleum Industry Act relating to entry and exit of investors in the upstream…
Comparative data challenges NNPC’s import claims
Sopuruchi Onwuka Market data from S&P Global Commodities at Sea have revealed that Nigeria’s petrol import in May averaged just 205,200 b/d or 32,595,000 liters in May, validating reports by The Oracle Today that the about 70 million liters regularly…
Golar points at MKII FLNG vessel for NNPC’s Yoho gas project
Sopuruchi Onwuka Liquefied Natural Gas (LNG) facility developer, Golar LNG, is considering two floating liquefaction vessels for proposed development of the Yoho gas field in Nigeria. The Yoho field is currently operated by ExxonMobil’s Mobil Producing Nigeria (MPN) Unlimited with…
NNPC proposes broader collaboration on sustainable energy
Sopuruchi Onwuka The Nigerian National Petroleum Company (NNPC) Limited proposes broad stakeholder collaboration in driving energy sustainability for the country’s development in the face of prevailing energy transition from fossil fuels. Group Chief Executive Officer, Mallam Mele Kyari, also declared…
NNPC boosts federation account with N123 bln
Sopuruchi Onwuka The Nigerian National Petroleum Company (NNPC) Limited has declared remittance of N123 billion to the federation account, enabling the three tiers of government to share N907.054 billion to meet state obligations to citizens in June. NNPC Chief Financial…
New facts emerge on NNPC operations, record profit claim confirmed
Fresh facts emerging from the operations of the NNPC Ltd. have provided new insight into the activities of the company, affirming that the firm actually made a whopping profit of N674.1 billion in 2021.The latest facts appear to contradict some…
Fuel crisis: Signals the market is still under capture
Sopuruchi Onwuka The prevailing spar between the organized labour and the new government of President Bola Tinubu over the controversial increase in fuel prices tend to conceal a critical distortion in the market, shifting attention from market liberalization to insidious…
Subsidy removal: Regulators, players move to arrest fuel scarcity
Sopuruchi Onwuka The declaration of President Bola Tinubu that the subsidy on the retail price of premium motor spirit popularly called petrol is gone has sparked a new round of confusion in the domestic fuel market, prompting the commercial players…
