Tag Archive

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 […]

NNPC/FIRST JV Secures over $700m Schlumberger Funding

NNPC/FIRST JV Secures over $700m Schlumberger Funding

June 30, 2017 No Comments

The plan by the Nigerian National Petroleum Corporation to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja. The agreement was between the NNPC/FIRST Exploration & Production Joint Venture and Schlumberger for the development of […]

NNPC Increases Gas Supply

NNPC Increases Gas Supply

June 12, 2017 No Comments

Efforts by the Federal Government to boost electric power generation in the country may soon yield the required dividend following the sustained increase in gas supply for power generation by the Nigerian National Petroleum Corporation, NNPC. The March 2017 edition of the monthly Financial and Operations Report of the Corporation, released today in Abuja, said […]

Oil rebels attack a gas pipeline in Nigeria

Oil rebels attack a gas pipeline in Nigeria

May 23, 2017 No Comments

The attack on a pipeline operated by the Nigerian Gas Company Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), took place on Saturday near Sanomi creek, close to the oil hub of Warri in Delta state according to media reports. The attack is the first on Nigeria’s oil and gas infrastructure in months […]

Nigeria loses over $1 billion to gas-flaring in two years

Nigeria loses over $1 billion to gas-flaring in two years

May 8, 2017 No Comments

The Federal Government has lost $1.4billion to gas-flaring between 2015 and 2016, data from the Department of Petroleum Resources (DPR) and Nigerian National Petroleum Corporation (NNPC) has shown according to media reports. While DPR figures showed $850 million loss to gas-flaring in 2015, NNPC latest report put losses to gas-flaring in 2016 at $603 million. […]

37 Companies Bid for NNPC Firefighting Trucks

37 Companies Bid for NNPC Firefighting Trucks

April 28, 2017 No Comments

No fewer than thirty seven (37) companies have submitted bids to supply six (6) triple agent firefighting trucks for the operation of the Nigerian Pipelines and Storage Company (NPSC), one of the downstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC). Source / More: NNPC Oil and Gas News Undiluted !!! “The squeaky wheel gets […]

Loading Resumes at Mosimi Depot after 12 Months

Loading Resumes at Mosimi Depot after 12 Months

April 10, 2017 No Comments

Products supply and distribution have received a major boost following the resumption of loading activities by the Nigerian National Petroleum Corporation (NNPC) at its Mosimi Area depot in Ogun State, over the weekend. Group Managing Director of the Corporation, Dr. Maikanti Kacalla Baru, who supervised the recommencement of loading operations at the area, said the […]

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