Bauchi has over 1bn barrels of oil reserves – University Don

The Vice-Chancellor of the Ibrahim Badamasi Babangida University Lapai (IBBUL) Professor Abu Kasim Adamu has described the discovery of oil in Bauchi state estimated at over one billion barrels and the successful drilling of the Kolmani River 2 well near Alkaleri village of the State as a monumental achievement of the Nigerian National Petroleum Corporation (NNPC). Professor Adamu spoke at the commissioning of a geological research centre named after the former Group Managing Director of the corporation, the Late Dr. Baru, and a perimeter fence donated to the university by the…

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‘Police, Army, EFCC, Customs, fail to curb petrol smuggling’ – NNPC GMD laments

…Seeks lawmakers intervention  Nigeria is running out of options to deal with the smuggling of imported petrol out of the country and the state-owned oil firm is now asking lawmakers to intervene after all the security agencies fail to resolve the problem. The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC), Mele Kyari,  in a presentation during the House of Representatives Committee on Finance at an interactive session on the 2022-2024 Medium Term Expenditure and Revenue Framework (MTERF) and Fiscal Strategy Paper (FSP), asked lawmakers to intervene. According to a…

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President Buhari announces NNPC Profit of N287bn for the first time in its 44-yr history

…Orders publication of 2020 audited financial statements In fulfillment of an earlier pledge by the Federal Government to publicly announce the financial position of the Nigerian National Petroleum Corporation, (NNPC), President Muhammadu Buhari has disclosed that the Corporation posted a Net Profit for the first time in the 44-year history of the establishment. According to a press statement issued on Wednesday by the President’sSpecial Adviser to the President, (Media and Publicity), Femi Adesina, the President, who doubles as Minister for Petroleum Resources, stated: “I am pleased to announce the declaration…

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Kyari tasks NNPC Greenfield Refinery Board on fuel importation

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has charged members of the Board of the NNPC Greenfield Refinery Limited, (NGRL), to explore all available options to bring an end to the current challenge of petroleum products importation. Picture caption: The NNPC Group Managing Director, Mallam Mele Kyari (middle) flanked by members of the Board of the NNPC Greenfield Refinery Limited (NGRL). According to a press statement issued by the NNPC’s Group General ManagerGroup Public Affairs Division, Garba Deen Muhammad, Malam Kyari gave the…

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Garba-Deen returns as NNPC spokesman, as Corporation reshuffles top management

Aminu Imam The Group Managing Director, (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has approved the appointment of a seasoned journalist and one-time President of the Nigerian Guild of Editors, Garba-Deen Muhammad as the Corporation’s new spokesman. Recall that Garba-Deen has been in the same position before the Late GMD of the Corporation, Maikanti Baru, removed him in a very controversial circumstance.  He held the position of NNPC spokesperson when Ibe Kachikwu was the Group Managing Director of the Corporation. Prior to his return to the highly…

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NNPC promotes, redeploys its senior management 

In a bid to strengthen and reposition the Nigerian National Petroleum Corporation, (NNPC), towards attaining global excellence and profitability, the management of the Corporation has announced the promotion and redeployment of some staff to fill key vacant positions. According to a statement issued by the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru yesterday, Mr. Billy Okoye has been appointed the new Group Executive Director, Ventures & Business Development, while Mrs. A’isha Ahmadu-Katagum has been promoted to the position of Group Executive Director, Corporate Services.  Until their…

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NNPC records ₦43.57bn trading surplus in April

The Nigerian National Petroleum Corporation, (NNPC), has announced a trading surplus of ₦43.57bn in April 2021, representing a 23.64% increase over the ₦35.24bn surplus it recorded in the previous month of March 2021. This is contained in the April 2021 edition of the NNPC Monthly Financial and Operations Report, (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru. Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under…

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NNPC records petroleum product sales of ₦234.63bn in March

The Nigerian National Petroleum Corporation, (NNPC), has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in March 2021, representing a 24.7% increase from the ₦188.15 billion sales recorded in the previous month of February 2021. This is contained in the March 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru.  The report indicated that total…

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Refineries incur 13-month N104.3bn loss, refine zero oil – Report

A report from the Nigerian National Petroleum Corporation, (NNPC), has shown that a total loss of N104.3bn was recorded by Nigeria’s refineries in 13 months, even as the facilities refined no crude oil throughout the period. An analysis of the updated consolidated refinery financial performance from February 2020 to February 2021 showed that the plants maintained losses monthly. The NNPC manages Nigeria’s refineries, namely: Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company. Figures from the corporation showed that the monthly operating expenditures of…

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‘AKK gas pipeline project will be delivered on schedule, will create prosperity’, Kyari assures

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has assured that the ongoing 614kilometres Ajaokuta-Kaduna-Kano (AKK) gas pipeline project would be delivered on schedule, create prosperity through massive job opportunities and guarantee peace for the country. A press statement issued by the NNPC’s Group General Manager Group Public Affairs Division, Dr. Kennie Obateru, disclosed that the GMD stated this yesterday, at Gas Sector Stakeholders’ Forum, which was held in Kano, with the theme: “Optimizing the Economic Development Capacity of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project”. …

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