Author Archives: steph

Nigeria’s Senate deepens fuel subsidy probe

Nigeria’s Senate said on Tuesday it was investigating claims that the state oil company illegally took more than $1bn  from natural gas proceeds to fund fuel subsidy payments.   Despite being Africa’s largest crude producer, Nigeria relies on fuel imports to meet domestic demand because of its dilapidated refineries.   The imported petrol is subsidised […]

Nigerian govt closes case in suit accusing Agip of under-declaring $55 million oil

  The Nigerian government on Tuesday closed its case in a suit before a Lagos Division of the Federal High Court seeking to recover $110 million from the Nigeria Agip Oil Company Limited. The oil company, owned by Itslisn oik giant, Eni, under-declared the volume of crude oil it shipped out of the country between […]

Report – 2019 Politics Influenced NNPC’s Oil Lifting Contracts

  A United Kingdom-based public policy assessment organisation, the Oxford Policy Management (OPM), has interrogated the increase in the number of firms engaged by the Nigerian National Petroleum Corporation (NNPC) to participate in its crude oil lifting contracts and the two-year duration of the contracts from 2018 and 2020, despite the country’s unchanged levels of […]

PENGASSAN wants NNPC to caution IOCs over anti-labour practice

  The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) wants the Nigerian National Petroleum Corporation (NNPC) to caution indigenous operators and International Oil Companies (IOCs) involved in anti-labour practice.   PENGASSAN President, Francis Olabode Johnson, who gave the warning in a statement, said the caution became necessary to avoid throwing the sector […]

Gas production leaps as NNPC records 1,858 vandalised pipelines

  A total of 230.35 billion cubic feet (Bcf) of natural gas was produced in the country in July this year, averaging a daily production of 7,678.17 million standard cubic feet (mmscfd), the Nigerian National Petroleum Corporation (NNPC) has disclosed.   The figure represents a 8.81 per cent increase over the previous month’s statistics.   […]

Fuel Scarcity Looms As NUPENG Backs NLC Planned Strike

There may be shortage of fuel next week as the Nigeria Union of Petroleum and Natural Gas Workers has pledged its loyalty to the Nigeria Labour Congress and any step that the NLC decides to take.   The Federal Government on Friday obtained an order from the National Industrial Court restraining the organised labour from […]

NNPC pumps up petrol price from Fuel Fund

  Nigeria National Petroleum Corporation (NNPC) boss Maikanti Baru yesterday told the Senate that the corporation spends $1.05billion from dividends of Liquefied Natural Gas (LNG) to augment daily shortages incurred in the pump price of Premium Motor Spirit (PMS).   Baru appeared before the Senate Ad- Hoc Committee Investigating alleged illegal application of $3.5billion petroleum […]

NNPC Subsidiary Resumes International Shipping of Crude Oil

  The Nigerian National Petroleum Corporation (NNPC), says its subsidiary, NIDAS Shipping Services, has resumed the international shipment of crude oil, petroleum products and had already gotten its first consignment.   The Corporation disclosed this in a statement signed by the Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, in […]