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Tag Archives: NNPC

Kaduna Refinery Begins Production At 68% Capacity – NNPC

Hope that the scarcity of fuel in many parts of the country will disappear in few days’ time emerged yesterday, as the Kaduna Refining and Petrochemical Company (KRPC) has commenced production with 68 per cent of its installed capacity. Announcing the resumption of production at the KRPC plant yesterday, General …

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Kachikwu Says NNPC Is Wrong To Hike Petrol Price

The Minister of State for Petroleum, Dr Ibe Kachikwu, says the recent N4 increase in price of petrol in Nigerian National Petroleum Corporation (NNPC) filling stations, is wrong. Kachikwu said this after receiving an award at an event organized by the Petroleum Products Pricing Regulatory Agency (PPPRA) in Abuja on …

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Federal Government Allocates $10 Billion (N3.5 Trillion) For Infrastructural Development In Niger Delta

Nigeria launched a $10 billion infrastructure program on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a …

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NNPC, Total To Consider Lifting Oil By Rail

The Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are considering the movement of petroleum products through the rail system in other to reduce the cost of transportation. This, they believed, is possible if plans by government to overhaul the rail sector becomes realistic. Speaking at the Oil Trading …

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Nigeria Enters Into $15 Billion Oil For Cash Deal With India

Nigeria and India have entered a $ 15 billion deal swapping oil for cash. The deal was negotiated on behalf of the federal government with the Indian government by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has thrown its …

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$17 billion in stolen crude oil to be investigated by the Federal Government

Nigerian lawmakers are set to investigate whether $17 billion in undeclared oil and fuel exports were stolen by companies and various government agencies under former president ”Goodluck” Ebele Azikiwe  Jonathan, in office for five years until his defeat to current President Muhammadu Buhari in April, 2015. Buhari, a former military ruler and …

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Federal Government demands back payment of $635m from Total and Agip for undeclared crude oil shipped out of Nigeria between 2011 and 2014

Cash strapped Nigeria’s Federal Government is  demanding $635million from two multinational oil companies, Agip and Total for undeclared crude oil shipped out of the country between 2011 and 2014. Two cases have been filed at the Federal High court in Lagos by senior lawyer and Senior advocate of Nigeria, Professor Fabian …

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