Nigeria’s major oil refinery revamp gets off to a slow start

A year after shutting down all of its dilapidated refineries to figure out how to fix them, Nigeria still can’t say how much it will cost to do the work or where the money will come from. Nigerian National Petroleum Corp. said it has finished the appraisal of its largest facility, but hasn’t completed the... Continue Reading →

Nigerians to buy petrol N162 per litre from next Monday

The Nigerian National Petroleum Corporation (NNPC) had agreed to slash N5 from N167.44 per litre during the negotiations with labour that ended early Monday morning. The Minister of Labour and Employment, Dr Chris Ngige, who spoke after the negotiations, stated that the reduction would bring down the pump price of Premium Motor Spirit (PMS) to... Continue Reading →

Court Upholds $1.7bn Arbitral Award in Favour of NPDC on Brass, Forcados Assets

Justice A. Faji of the Lagos Division of the Federal High Court yesterday upheld the decision of an arbitration tribunal, which slammed a whopping $1.7 billion judgment in favour of the Nigerian Petroleum Development Company (NPDC). NPDC is a subsidiary of the Nigerian National Petroleum Corporation (NNPC) The arbitration involved the Atlantic Energy Drilling Concepts... Continue Reading →

Disabled People Obstruct NNPC Headquarters In Puzzling Protest

A group of people living with disabilities has occupied the entrance into the Nigerian National Petroleum Corporation (NNPC) headquarters at Central Business District in Abuja. Their presence stopped NNPC and visitors from leaving or going into the building. Some of them with crutches and wheelchairs were pulling the front gate while armed security agents held... Continue Reading →

NNPC hikes petrol ex-depot price to N155, marketers to now sell at N168

The Petroleum Products Marketing Company (PPMC) a subsidiary of the Nigerian National Petroleum Corporation (NNPC) has hitched up the ex-depot price of Premium Motor Spirit (PMS) also called petrol. It increased the rate at which it sells the product to marketers, from N147.67 per litre to N155.17, equivalent to a 5.1% hike. Marketers are to... Continue Reading →

PENGASSAN strike: Over 2.9b litres of petrol available, NNPC assures Nigerians

The Nigerian National Petroleum Corporation (NNPC) says it has over 2.9 billion litres of Premium Motor Spirit (PMS), also known as petrol, to service Nigerians during the Yuletide period and beyond. The corporation disclosed this in a statement signed by its spokesman, Dr. Kennie Obateru, in Abuja, on Tuesday. He dismissed the insinuation of the... Continue Reading →

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