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Oil price on front burner as Buhari visits S’Arabia, Qatar

President Muhammadu Buhari is starting one week state visit to Saudi Arabia and Qatar. President Buhari, who will be accompanied by a high delegation of the Federal Government, including the Minister of State (Petroleum) and Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Dr. Ibe Kachikwu, will first fly to Riyadyh for talks…

PPMC wades into Lagos tanker drivers’ crisis to stave off fuel supply shortage

Nigerian National Petroleum Corporation (NNPC) has disclosed that the management of its midstream subsidiary Pipeline and Products Marketing Company (PPMC) has intervened in the leadership tussle between the Mobil branch and national office of the Petroleum Tanker Drivers Union (PTD) that has affected the supply of petroleum products in Lagos and its environ. Consequently, the…

Kachikwu: I didn’t say petrol will sell for N97

Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has dismissed insinuations in some quarters that the Federal Government has concluded plans to increase the pump price of fuel from N87 to N97 per litre as from January 2016. Speaking during a media parley…

DPR seals three Lagos depots over hoarding

The Department of Petroleum Resources (DPR) has sealed the depots of three petroleum product marketers for failing to dispense product to their customers, despite having enough product in stock. The situation, according to the DPR, is responsible for the petroleum product scarcity experienced across the country recently. The inspection team, led by the Director General…

Amnesty International: Shell’s claim over Niger Delta clean up false

Amnesty International said the claims by oil giant, Shell, that it has cleaned up heavily polluted areas of the Niger Delta have been are “blatantly false.” Amnesty International and the Centre for Environment, Human Rights and Development (CEHRD) disclosed this in a new report published in Abuja, yesterday. The report titled: “Clean it up: Shell’s…

NNPC nets N38.67bn from petroleum products’ sale in Sept

The Nigeria National Petroleum Corporation (NNPC) said it recorded N38.67billion from the sale of downstream petroleum products in September. The NNPC’s report for September released yesterday stated that the amount was in respect of revenue from “white products” sold by the Pipelines and Product Marketing Company (PPMC). The report explained that the white products include…

278 firms bid for Nigerian crude oil grades

The Nigerian National Petroleum Corporation (NNPC) has received 278 bids by indigenous and foreign firms seeking to secure contracts for the sale and purchase of the 26 Nigerian crude oil grades on offer. The process, which was covered live by all major television networks in the country, had in attendance representatives of the bidding companies…

$1.2BN ALTERNATIVE FUND FOR 36 NNPC OIL WELLS

The Nigerian National Petroleum Corporation (NNPC) has got 1.2 billion dollar multi-year drilling financing for 36 oil wells under the NNPC and Chevron Nigeria Limited Joint Venture (JV). A statement by Mr Ohi Alegbe, NNPC Group General Manager, Group Public Affairs Division, in Abuja, said the NNPC and Chevron JV deal was executed at a…

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