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The Nigerian National Petroleum Corporation (NNPC) says it currently has 6,621 staff strength both at its headquarters and across all its subsidiaries, division and offices nationwide. The corporation disclosed this in its report of compliance with the Extractive Industries Transparency Initiative’s (EITI) Open Data requirements, released in Abuja on Monday. The report disclosed that the 6,621 individuals comprised its total staff strength as at April 20, 2020. This meant that the recently employed 1,050 fresh...

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The National Bureau of Statistics (NBS), says the country imported 20.89 billion littres of Premium Motor Spirit (PMS) also known as petrol in 2019. The NBS made this known in its latest report on petroleum products importations statistics for 2019 released on Wednesday. It said that the country also imported 5.15 billion litres of Automotive Gas (AGO), and 128.11 million litres of Household Kerosene (HHK) in the period under review. The NBS said 1.07 billion...

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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has denied reports that 84 million barrels of Nigerian crude oil were stranded at sea because there no buyers to take them. Mr. Kyari said there were no physical vessels floating on the sea with Nigerian crude oil waiting for buyers. According to a report by ThisDay, the NNPC GMD said crude oil was normally sold and done on paper two months...

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The Minister of State for Petroleum Resources, Chief Timipre Sylva says the downstream oil sector was deregulated on March 19, with the reduction in the pump price of the Premium Motor Spirit(PMS) also known as petrol. Sylva made the clarification at a ministerial briefing giving a score card of the performance of the sector in Abuja, on Thursday. He said that the monthly price modulation introduced by the Petroleum Products Pricing Regulatory Agency (PPPRA) was...

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The Nigerian National Petroleum Corporation (NNPC) has said that 32 pipelines in the country malfunctioned or were vandalised in February 2020. In a statement, the Corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, explained that 22 pipeline breaches, eight weld failures and two pipeline ruptures occurred in the month under review. “Mosimi area accounted for 78 percent total cases, the Port Harcourt axis 16 percent and all other routes accounted for the...

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ABUJA – Nigeria has put in place policies to ensure foreign investors that want to repatriate funds can exit the country in an orderly fashion, the central bank said late on Sunday, without giving any details. Foreign investors have sold Nigerian assets at an accelerated pace since February as lockdowns to curb the coronavirus pandemic have stalled economic activity and triggered a crash in the price of oil, Nigeria’s main export. That has put pressure...

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The President,  Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Chinedu Okoronkwo says its members have started buying Premium Motor Spirit (PMS) also known as petrol at N108 ex-depot price as announced by NNPC. Okoronkwo made this known in an Interview with the News Agency of Nigeria (NAN) in Abuja, on Sunday. NAN recalls that the Nigerian National Petroleum Corporation (NNPC) had on May 6, announced a reduction in the ex-depot price of PMS from...

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The federal government needs to look at areas where we seem to be wasting revenue, the subsidy is the biggest one and about N4 trillion could be gained if removed, PwC Nigeria said. Crude oil, Nigeria’s major source of revenue has been hit by the Covid-19 pandemic which forced oil prices down for several weeks – until a few days ago when Brent began rising — making the country consider reviewing the 2020 budget oil...

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The Nigerian National Petroleum Commission (NNPC) Tuesday, announced a reduction in the depot price of petrol from N113.28 per litre to N108 per litre. The reduction comes barely 3 weeks after it reduced the deport price of petrol from N133.28 per itre to 113.28 per litre which resulted in the slash in the retail price of petrol from N145 to N125 per litre. At the time, the Petroleum Products Pricing Regulatory Agency (PPPRA) said according...