Tag Archive

NNPC Records $471.9 Million Export Receipts

NNPC Records $471.9 Million Export Receipts

October 9, 2017 No Comments

The Nigerian National Petroleum Corporation, NNPC has announced a total export receipt of $471.90 million for the month of July 2017 as against $219.34 million posted in June 2017. According to the July edition of the Monthly Financial and Operations Report of the Corporation which was made public on Thursday, contribution from crude oil amounted […]

Lack of Adherence to Due Process in NNPC Contract Awards

Lack of Adherence to Due Process in NNPC Contract Awards

October 9, 2017 No Comments

Following the publication of alleged lack of adherence to due process in the award of NNPC contracts, the President ordered the Group Managing Director (GMD) and Management of the Nigerian National Petroleum Corporation (NNPC) to consider and respond expeditiously to the allegations. The substance of the allegations made by the Minister of State for Petroleum […]

NNPC Urged to Explore Oil in Sokoto Basin

NNPC Urged to Explore Oil in Sokoto Basin

September 22, 2017 No Comments

Sokoto State Governor, Rt. Hon. Aminu Waziri Tambuwal, has appealed to the Management of the Nigerian National Petroleum Corporation (NNPC), to activate oil and gas exploration campaign in the Sokoto Inland Sedimentary Basin with a view to establishing the volume and value of hydrocarbon deposits there. Governor Tambuwal who led a high powered Sokoto State […]

Petrol,Cooking Gas Prices Drop in Nigeria

Petrol,Cooking Gas Prices Drop in Nigeria

September 4, 2017 No Comments

The sustained strategic intervention of the Nigerian National Petroleum Corporation (NNPC) in the efficient supply and distribution petroleum products has led to significant fall in the prices of Premium Motor Spirit (PMS), also known as petrol, and Liquefied Petroleum Gas (LPG), also known as cooking gas, nationwide. A national survey by Oil and Gas Forum, […]

NNPC, India Seek Deeper Collaboration on Medicare

NNPC, India Seek Deeper Collaboration on Medicare

August 25, 2017 No Comments

As part of efforts to jump-start its diversification into the health care business, the Nigerian National Petroleum Corporation (NNPC) has requested a deeper collaboration with India in the area of expertise and state-of-the-art medical equipment to revitalize its 52 clinics across the country. The Group Managing Director of the NNPC, Dr. Maikanti Baru, who made […]

Nigeria’s Oil Industry Overhaul

Nigeria’s Oil Industry Overhaul

August 24, 2017 No Comments

Although Nigeria is Africa’s largest oil and gas producer, its petroleum sector has long suffered from frequent scandals, severe mismanagement and a lack of coherent guidelines and regulations. Furthermore, Nigeria’s state oil company, the Nigerian National Petroleum Corporation (NNPC), has become synonymous with corruption in Nigeria. Widely accepted as being one of the world’s most […]

Restructuring of the NNPC

Restructuring of the NNPC

August 16, 2017 No Comments

The ongoing reforms of the Nigerian National Petroleum Corporation (NNPC) will place the Corporation on a long-term growth trajectory for the benefit of all stakeholders. The Group Managing Director, Dr. Maikanti Baru, who disclosed this when he received a delegation from the NNPC Retired Staff Association led by its President, Chief George Owarieta, in Abuja, […]

NNPC, Shell, Chevron Sign Agreements in Nigeria

NNPC, Shell, Chevron Sign Agreements in Nigeria

August 4, 2017 No Comments

Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in London on Monday between the Nigerian National Petroleum Corporation (NNPC) and two of its JV partners: NNPC/Chevron Nigeria Limited (CNL) JV and NNPC/Shell Petroleum Development Company (SPDC) JV. The two projects […]

CypherCrescent Partner with NNPC R&D Division

CypherCrescent Partner with NNPC R&D Division

August 2, 2017 No Comments

CypherCrescent announced that they are official partners with the Research and Development Division of the Nigerian National Petroleum Corporation (NNPC). The research centre, also in collaboration with other companies has an on-going project of searching for commercial hydrocarbons across all inland sedimentary basins in the nation. The research aims to find the exact location of […]

Schlumberger Announces Second-Quarter 2017 Results

Schlumberger Announces Second-Quarter 2017 Results

July 24, 2017 No Comments

Q2 2017 Earnings highlights Revenue of $7.5 billion increased 8% sequentially Pretax operating income of $950 million increased 25% sequentially GAAP loss per share, including charges of $0.40 per share, was $0.05 EPS, excluding charges, was $0.35 Quarterly cash dividend of $0.50 per share was approved Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our second-quarter […]

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