The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has said the corporation will ensure the maximisation of the nation’s vast gas resources by incentivising all parts of the gas value chain. He said the NNPC would support the Nigerian Gas Association to achieve its objectives of ensuring that the country derives maximum benefit from its … Read More
How to Ensure Petrol Price Stability
The recent call by former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) faulting the N145 petrol price cap has stirred a new wave of controversy among stakeholders and Nigerians in general. The NNPC GMDs forum, a body comprising former GMDs of NNPC and the incumbent NNPC GMD, Dr. Maikanti Baru, had last week, expressed reservation over the … Read More
Increase PMS Pump Price – Ex-NNPC GMDs
Former Group Managing Directors, GMDs, of the Nigerian National Petroleum Corporation, NNPC, weekend, called for an upward review of the price of Premium Motor Spirit, PMS, also known as petrol, stating that the present price cap of N145 per litre is not in line with current economic realities. According to a statement by the NNPC, the former GMDs stated this … Read More
Rethinking NNPC’s Oil Search in the North
Having frittered away billions of naira of state funds in the search for crude oil in the north, the federal government (NNPC) should adopt the successful models used in the Niger Delta, Anambra and Dahomey Basins by incentivising oil companies to embark on exploratory activities in new frontiers. The Niger Delta, which largely dominates the oil-rich Gulf of Guinea, did … Read More
NNPC Highlight Obstacles to Nigeria’s Reserve, Production Target
The Nigerian National Petroleum Corporation ( NNPC ) has hinged the inability of the country to reach the Four million production and 40 billion reserve target on funding constraints, infrastructure vandalism, security concerns and a host of others. The Group Managing Director of NNPC, Dr. Maikanti Baru, who made this disclosure during the conference organised by the Society of Petroleum … Read More
NNPC Posts N26.51 Billion Loss in June 2016
After recording a trading surplus of N274 million in May 2016, the Nigerian National Petroleum Corporation (NNPC) could not sustain the tempo as it posted a loss of N26.51bn in June, its latest financial report has shown. The report, which was released on Sunday, showed that the corporation’s loss was due to a decrease in its revenue. The national oil … Read More
NNPC Moves To Increase Refining Capacity
Nigerian National Petroleum Corporation, (NNPC), said it was currently undergoing transformation which includes increasing the corporation’s refining capacity. Group managing director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kachalla Baru, who disclosed this while receiving the Spanish ambassador to Nigeria, Mr Alfonso Barnuevo, to the NNPC Towers in Abuja, Thursday, also said that the country was strengthening bilateral … Read More
As Mohammed Barkindo Resumes At OPEC, Oil Falls To $42
The global oil benchmark, Brent crude, fell by over three per cent on Monday to around $42 per barrel amid worries about growing glut in the market. A Reuters survey on Friday found that output from the Organisation of Petroleum Exporting Countries likely rose in July to its highest in recent history as Iraq pumped more and Nigeria squeezed out … Read More