NNPC Weighs Major Chinese Stake in Port Harcourt, Warri Refineries
The Nigerian National Petroleum Company Limited is considering a new partnership arrangement that could see Chinese investors acquire a controlling stake in the Port Harcourt and Warri refineries as part of efforts to revive and expand the facilities. The proposed deal follows the signing of a Memorandum of Understanding between NNPC and two Chinese firms; […]
NNPC Partners With Chinese Firms To Revive Port Harcourt, Warri Refineries
The Nigerian National Petroleum Company (NNPC) Limited signed a Memorandum of Understanding (MoU) with two Chinese companies for the completion and operation of the Port Harcourt and Warri Refineries. NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, signed the agreement with Sanjiang Chemical Company Limited Chairman Guan Jianzhong and Xingcheng (Fuzhou) Industrial Park Operation and […]
NNPC Raises Crude Price by $7 Amid US-Iran Conflict
The Nigerian National Petroleum Company has raised the price of oil by seven dollars. This is because of the conflict between the United States and Iran. The whole world is feeling the effects of this conflict on the oil market. The Nigerian National Petroleum Company has changed the prices of its oil. This change is […]
NNPC Refineries Stir Debate as Expert Counters Olusegun Obasanjo
An energy expert, Dr Joseph Obele, a lecturer at Ignatius Ajuru University of Education in the Department of Marketing and Petroleum Economics, has strongly disagreed with former President Olusegun Obasanjo over his recent assertion that Nigeria’s refineries will “never work again.” Reacting to the comments, Dr Obele who is also a stakeholder in Nigeria’s petroleum […]
NNPC Denies Sale of Refinery Equipment, Warns Against Fraudsters
The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied claims circulating online and in some quarters that it is selling scrap materials, refinery equipment, or components from its facilities, describing the reports as false. The company also warned that individuals are falsely presenting themselves as its representatives and attempting to defraud members of the […]
NNPC, NUPRC, NMDPRA Outline Path to Achieve Over 3m Bpd
Regulators, operators, and Stakeholders in Nigeria’s oil and gas sector have outlined a defined roadmap to achieve the goal of crude oil production of more than 3 million barrels per day while ramping up gas production by 2030, during the Oloibiri Lecture Series and Energy Forum (OLEF). During the event organised by the Oloibiri Oil […]
NNPC Ships 950,000 First Cawthorne Crude Cargo
Nigerian National Petroleum Company Limited (NNPC) has made headlines after successfully exporting the first-ever cargo of the recently launched Cawthorne crude grade to the Netherlands, signalling a milestone achievement for Nigeria in efforts to diversify its crude oil export range. According to NNPC Ltd, the shipment, comprising 950,000 barrels, has been loaded aboard the vessel, […]
Nigeria Eyes Global Gas Leadership
The Executive Vice President, Gas, Power and New Energy, NNPC Limited, Mr Olalekan Ogunleye, says Nigeria is positioning itself to become a major global supplier of liquefied natural gas, LNG, and gas-based energy, leveraging its strategic location and vast reserves. Mr Ogunleye, who stated this during a panel discussion at the CERAWeek in Houston, noted […]
Dangote Refinery, NNPC Forge Strategic Partnership to Boost Energy Security
In a major step toward strengthening Nigeria’s energy independence, the Dangote Petroleum Refinery and the Nigerian National Petroleum Company Limited have agreed on a strategic partnership aimed at transforming the nation’s energy sector and accelerating industrial growth. The commitment was made during a high-level visit by NNPC Ltd.’s leadership to the Dangote Refinery and Petrochemicals […]
PETROAN Faults Ojulari’s Comments on Port Harcourt Refinery
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has faulted recent comments credited to the Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, describing the re-operationalisation of the Port Harcourt Refinery and Petrochemical Company as a waste of resources. In a press statement issued by the National Public Relations Officer of […]
NNPC’s Internal Debts Climb to N30.3trn
The Nigerian National Petroleum Company Limited’s transition to full commercial operations is facing renewed scrutiny as inter-company debts surged to N30.3 trillion, highlighting growing concerns over liquidity management and internal financial discipline. According to its 2024 audited financial statements, debts owed by subsidiaries, joint ventures, and related entities rose by 70 per cent, or N12.52 […]
FG Writes Off $5bn NNPC Debt
The approval, granted by President Bola Tinubu, covers a combination of foreign and domestic liabilities accumulated by the national oil company over several years. According to details presented at a recent Federation Account Allocation Committee (FAAC) meeting, the write-off includes $1.42 billion in dollar-denominated debt and N5.57 trillion in naira liabilities. The debts were described […]