Tag archive of NNPC

FG, US Investors Sign MoU To Construct Gas-fired Plant

The federal government has signed a memorandum of understanding (MoU) with investors from the United States (US) that will fast-track the realisation of gas-fired power plants in the country. The MoU was signed on behalf of government by the minister of state for power, Muhammad Wakil, with a five-man American investors, led by Mr Roy Yeferez. The project to be located in Bayelsa State would be funded wholly by the investors who are also expected

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Enugu NNPC Depot To Begin Operations In July – PPMC

Mr Haruna Momoh, the Managing Director of Pipeline and Products Marketing Company (PPMC), said the NNPC depot in Enugu State would commence operations and discharge of petroleum products in July. Momoh made the disclosure on Tuesday in Enugu at a public enlightenment campaign on pipeline vandalism in the state. The managing director, represented by the Area Manager of the company, Mr Bassey Anam, said the company had achieved over 80 per cent resuscitation

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Ex-militants battle oil thieves in Delta

THE thinking was that with the involvement of ex-militant leader and founder of the Movement for the Emancipation of the Niger-Delta, MEND, Chief Government Ekpemupolo, alias Tompolo, in Oil Facilities Surveillance Limited, OFSL, a pipeline surveillance company, contracted by the Nigeria National Petroleum Corporation, NNPC, to police oil pipelines in Delta State, oil thieves would scamper to their holes. However, that appears not to be the case,

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‘Boko Haram members should be treated as Dokubo, Tompolo’ – Suleiman Shuaibu

The federal Government should stop the contract given to former top Niger Delta militants Dokubo-Asari, Tompolo and others to guard pipelines or else Boko Haram members should be invited and given such contract, National President of African Youths for Conflict Resolution and Prevention Dr Suleiman Shuaibu, said in Kaduna yesterday. Read full

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Over N451billion of 2012 fuel subsidy budget already spent

With more than half of appropriation for fuel subsidy in this year’s budget already spent on settlement of arrears for last year, the Federal Government moved swift to douse fears that it might not be able to continue the payment of claims for petroleum products imports. Read full

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E-Conference Report: THE PIB & YOU by Spaces for Change

The new version of the PIB seamlessly weaves some notably progressive provisions with a number of disturbing additions that require serious debate and reconsideration. In essence, the 223-page PIB includes plans to unbundle and list the state-owned Nigerian National Petroleum Corporation (NNPC) on the Nigerian Stock Exchange; increase taxation for deep offshore; and give the oil minister supervisory powers over all institutions in the industry.

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National Assembly Gets Authentic Petroleum Industry Bill 2012.

President Goodluck Jonathan Wednesday forwarded the original Petroleum Industry Bill (PIB) to the National Assembly and directed that the soft copy be made available to stakeholders and the public by the Ministry of Petroleum Resources. view full text Download authentic PIB sent to the National Assembly

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NNPC still owes fed account N588bn – NEITI

The Nigerian National Petroleum Corporation (NNPC) is still yet to remit about N588 billion to the Federation Account as at the last audit conducted by the Nigeria Extractive Industries Transparency Initiative (NEITI). Executive Secretary of the NEITI Hajiya Zainab Shamsuna Ahmed said yesterday that apart from the N450 billion figure the NNPC agreed to pay on installment basis to the Federation Account, the corporation still owes the federation

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NNPC fails to account for 65,000 barrels of crude per day

The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Austen Oniwon yesterday could not account for 65,000 barrel of crude oil per day which it buys for refining to meet the country’s domestic consumption of petroleum products. Speaking when he appeared before the Senate Joint Committee investigating fuel subsidy management, Oniwon said NNPC gets 445,000 barrel of crude oil per day at international market price and refines

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