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Separation of NNPC’s regulatory and operational roles critical – PwC

Separation of NNPC’s regulatory and operational roles critical – PwC

A new report by PricewaterhouseCooper entitled, ‘The new nation builders: Creating the African national oil company of the future,’ has said that political involvement in the management of the Nigerian National Petroleum Corporation can lead to rapid turnover in key staff, creating difficulties in ability to execute strategic initiatives, The Punch reports. Noting that a proposed new… READ MORE

Nigeria Earns N362.43bn From Crude Oil Export in June

Nigeria Earns N362.43bn From Crude Oil Export in June

Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS). This comes as stakeholders in the oil and gas industry have underscored the drawbacks of the Petroleum Industry Governance Bill (PIGB), saying that the bill failed to address some critical issues in the… READ MORE

$25b: Nnpc’s Probe Likely As Buhari Meets Kachikwu

$25b: Nnpc’s Probe Likely As Buhari Meets Kachikwu

The President will today meet Minister of State for Petroleum Resources Dr. Emmanuel Ibe Kachikwu, The Nation learnt last night. The minister has alleged that $25billion contracts have been wrongly awarded by Nigerian National Petroleum Corporation (NNPC) Group Managing Director Dr. Maikanti Baru. Kachikwu wrote President Muhammadu Buhari on the “bravado management style” employed by… READ MORE

Nigeria Earns N13.5 Billion From Cashew nuts, As F.Govt Shores Up Non-Oil Exports

Nigeria Earns N13.5 Billion From Cashew nuts, As F.Govt Shores Up Non-Oil Exports

Nigeria’s effort to diversify the economy appears to be yielding results with increased revenue from cashew nuts and other agriculture products’ export. The Minister of Agriculture and Rural Development, Audu Ogbeh, during a presentation on Thursday at the National Economic Council meeting said that the country’s agriculture exports in the second quarter of the year… READ MORE

NPDC to raise Nigeria’s oil production by 320,000bpd

NPDC to raise Nigeria’s oil production by 320,000bpd

Nigeria’s crude oil production is expected to increase by 320,000 barrels per day (bpd) by 2020 from different Oil Mining Lease (OML) in the Niger Delta region This increase, which would be coming from Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is expected to take the company’s equity… READ MORE

Senate may probe NNPC’s planned Ajaokuta-Kaduna-Kano gas pipeline contract

Senate may probe NNPC’s planned Ajaokuta-Kaduna-Kano gas pipeline contract

The Senate, yesterday, said it would carry out a holistic investigation into the proposed award of the Engineering, Procurement and Construction (EPC) contracts of Ajaokuta- Kaduna-Kano(AKK) Gas Pipeline, totalling $2.317 billion (N834.12 billion), to the highest bidders once it discovered that due process was breached,  Vanguard reports. The Senate disclosed however that its attention had not been… READ MORE

After Boko Haram attack, Nigerian govt turns to Sokoto Basin for oil search

After Boko Haram attack, Nigerian govt turns to Sokoto Basin for oil search

Few months after the terrorist group in the north eastern part of the country, Boko Haram, ambushed and killed some lecturers from the University of Maiduguri who were part of a Nigerian National Petroleum Corporation, NNPC, oil exploration team in the Lake Chad basin, the corporation said it has commissioned another team to handle a… READ MORE