NNPC Archives - Gambeta News

NNPC ANNOUNCED PLANS TO BUILD HOSPITAL IN 12 STATES

Posted on June 8, 2020 by Gambeta News

Nigerian National Petroleum Corporation (NNPC) has announced plans to build hospitals in 12 states across the six geopolitical zone in the country. The project is a joint venture between the NNPC and its partners, with a budgeted construction cost set for US$53.9m (N21 billion). Minister for Health Senator Olorunnimbe Mamora, made the statement during a groundbreaking ceremony of the Emergency and Infectious Disease Hospital in Maiduguri, Borno State, at the weekend. According to Mamora, the…

DANGOTE REFINERY DEDICATES 53% OF CAPACITY TO PETROL PRODUCTION

Posted on August 1, 2019August 2, 2019 by Gambeta News

Dangote Refinery may lead to the sale of NNPC refineries in the long run Dangote Group’s, President and Chief Executive Officer, Aliko Dangote while speaking at the Nigerian National Petroleum Corporation (NNPC) headquarters; have said that 53% of Dangote refinery’s capacity upon its completion will be dedicated to petrol production. Dangote refinery will have a refining capacity of 650,000 barrels per day; dedicating 53% of this capacity to petrol production simply amounts to 344,500 barrels…

PRESIDENT BUHARI APPOINTS NEW NNPC GMD AND NNPC CHAIRMAN

Posted on June 27, 2019 by Gambeta News

NNPC now has a new GMD and a new acting Chairman. The Nigerian National Petroleum Corporation (NNPC) recently had series of changes in its various management positions. The National Oil firm NNPC now has a new GMD and a new acting Chairman. Nigeria’s President, Muhammadu Buhari recently appointed Mr. Mele Kolo Kyari to replace Dr. Maikanti Baru as the new Group Managing Director (GMD) of NNPC. However, he is to resume office from 8 July,…

SEPLAT PARTNERS WITH NNPC TO RAISE US$700m GAS DEVELOPMENT FUNDS

Posted on April 26, 2019 by Gambeta News

Seplat teams up with NNPC to improve gas production in Nigeria. Seplat Petroleum Development Company recently announced that it is partnering with Nigeria National Petroleum Corporation (NNPC); to raise US$700 million for a gas development project. The US$700 million is for a joint gas project in Imo state; which will tremendously help Nigeria to reduce its dependency on oil. According to A.B.C Orjiako, the Co-founder and Chairman of Seplat; the project includes the development of the Assa…

NNPC HAS PAID US$1.5bn CASH CALL ARREARS TO IOCs

Posted on April 18, 2019 by Gambeta News

NNPC reduces its cash call arrears to JV partners by US$1.5 billion The Nigerian National Petroleum Corporation (NNPC) via its group managing director Maikanti Baru; said it has repaid US$1.5 billion of the cash call arrears owed to its foreign oil partners. The director who made the statement at the National Association for Energy Economics, NAEE, International Conference said; “So far, we have repaid over US$1.5 billion out of the US$5.1 billion cash call arrears to date.” Evidently, this…

NNPC’s STRATEGY TO CUT FUEL IMPORTS IN NIGERIA

Posted on March 26, 2019March 26, 2019 by Gambeta News

Nigeria’s NNPC will rehabilitate refineries to cut fuel imports The Nigerian National Petroleum Corporation (NNPC) have come up with a strategy to end reliance on fuel imports in Nigeria. Recently NNPC stated plans to rehabilitate its refineries; this it also said will help save the country millions of dollar on fuel imports. Nigeria have a refining capacity of about 445,000 bpd (barrels per day) from across four (4) different refineries. The refineries are: Port Harcourt Refining Company…

Lagos Chamber of Commerce and Industry request Petroleum Industry restrictions in Nigeria.

Posted on January 30, 2018 by Gambeta News

Ruwase warns about policy framework for the petroleum downstream segment of the oil and gas industry. The President, Lagos Chamber of commerce and Industry Mr Babatunde Ruwase expressed the need to look into the policy framework for the petroleum downstream segment of the oil and gas industry. In a statement by Ruwase, “We have concerns over the reluctance of the government to liberalize the sector and open it up to private sector participation. The concentration of…

NNPC PLANS TO BUILD MORE DEPOTS

Posted on January 24, 2018January 25, 2018 by Gambeta News

NNPC plans to expands its product supply and distribution by building more depots across the country. The Nigerian National Petroleum Corporation (NNPC) has plan to open more depot across the country so as to expand their market shares. The aim of the project is to ease products supply and distribution in the country. The statement was made by NNPC Spokesman, Mr Ndu Ughamadu in Abuja while inaugurating the board of one of its downstream companies, NNPC Retail limited. The…

NNPC SIGNS US$1.7bn DEAL WITH CHEVRON TO INCREASE CRUDE PRODUCTION

Posted on November 23, 2017 by Gambeta News

NNPC and Chevron sign agreement aimed at boosting reserves and production of crude in Nigeria. The Nigerian National Petroleum Corporation ( NNPC ) and Chevron Nigeria Limited (CNL) have finalized an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. This report is according to a statement issued by the NNPC Group Managing Director, Dr Maikanti Baru. The agreement which was signed in London, is expected to achieve an incremental peak…

NEW BIOFUEL PLANT IN SOUTH WEST NIGERIA TO GENERATE 1m JOBS

Posted on November 6, 2017November 6, 2017 by Gambeta News

NNPC project in Ondo state to create 1 million jobs. A memorandum of Understanding between the Nigerian National Petroleum Corporation (NNPC) and the Ondo state government has just been recently signed. The MoU is to establish a 65,000 million litres bio-fuel plant in Okeluse, Ondo State. The Group Managing Director of NNPC, Dr. Maikanti Baru, explained that the project will be a collaboration between NNPC and some investors who will bring Foreign Direct Investment into the…

US$24BN SCANDAL HIT STATE OIL CORPORATION, NIGERIA

Posted on October 5, 2017October 5, 2017 by Gambeta News

Nigerian National Petroleum Corporation (NNPC) boss on tension as Minster of State for Petroleum Resources expose illegal contract deal. Mr Ibe Kachikwu, the Minster of State for Petroleum Resources, has given details to the presidency of some questionable dealings of the Group Managing Director of NNPC, Maikanti Baru. Mr. Kachikwu on an August 30 correspondence said Mr. Baru bypass procurement regulations in awarding a series of contracts which were up to US$25 billion, which he…