nnpc

CBN Confirms NNPC’s Autonomy in FX Purchases as Nigeria Pushes for Local Currency Transactions Details: At the World Bank/IMF Annual Meetings in Washington DC, Central Bank of Nigeria (CBN) Governor Yemi Cardoso clarified that NNPC Limited operates independently in the foreign exchange market...

NNPC Begins Repayment of $6 Billion Petrol Supply Debt, Says Finance Minister Edun In a significant development, the Nigerian National Petroleum Company (NNPC) Limited has started repaying a $6 billion debt owed to suppliers of premium motor spirit (PMS), commonly known as petrol. The...

Dangote Refinery Starts Direct Petrol Sales to Marketers, Bypassing NNPC Detailed Breakdown: The Dangote Petroleum Refinery has begun supplying Premium Motor Spirit (PMS), commonly known as petrol, directly to oil marketers. This development marks a shift from the previous arrangement where...

NNPC Acquires Equipment for Expansion of 40 CNG Stations Nationwide Details: The Nigerian National Petroleum Company Limited (NNPC) is set to establish 40 new Compressed Natural Gas (CNG) stations across Nigeria. This is part of a larger plan by the Federal Government to roll out 100 CNG...

NNPC RETAINS SOLE OFF-TAKER ROLE FOR DANGOTE REFINERY’S PETROL DESPITE FEDERAL GOVERNMENT’S DIRECTIVE The Nigerian National Petroleum Company Limited (NNPC) remains the sole purchaser (off-taker) of Premium Motor Spirit (PMS) from Dangote Refinery, despite a recent announcement from the Federal...

NNPC HIKES PETROL PRICE TO N1,030 PER LITRE The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol to N1,030 per litre across various outlets in Nigeria. This sudden adjustment has caused concern among citizens and has been attributed to significant...

FG ENCOURAGES NNPC TO INVEST IN PRIVATE REFINERIES, SHIFTS FOCUS FROM GOVERNMENT-OWNED ONES Detailed Breakdown: 1. Context: The Minister of State for Petroleum Resources, Heineken Lokpobiri, has advised the Nigerian National Petroleum Company Limited (NNPC) to focus on acquiring equity stakes...

NNPC STEPS ASIDE AS SOLE BUYER FOR DANGOTE REFINERY PETROL, OPENING MARKET TO INDEPENDENT MARKETERS Details: 1. Withdrawal Announcement: The Nigerian National Petroleum Company Limited (NNPC) has announced it will no longer serve as the sole off-taker for petrol produced by the Dangote...

NIGERIA’S LOCAL REFINERIES PRODUCED 1.46 BILLION LITRES OF PETROL BETWEEN 2015 AND 2019 AMID REFINING CHALLENGES Detailed Breakdown: From 2015 to 2019, Nigeria managed to produce only 1.46 billion litres of petrol due to the country's limited refining capacity, according to a recent report...

MARKETERS SEEK DIRECT FUEL PURCHASE FROM DANGOTE REFINERY, AIMING TO BYPASS NNPC 1. Oil Marketers’ New Strategy: Independent petroleum marketers in Nigeria, under associations such as the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets...

NLC BLAMES POLICY SOMERSAULT FOR NNPC, DANGOTE DISAGREEMENTS Speaker: Joe Ajaero, President of the Nigeria Labour Congress (NLC), made statements regarding the ongoing issues between the Nigeria National Petroleum Company (NNPC) and Dangote Petroleum Refinery. Key Issue: Ajaero attributes the...

NNPC ANNOUNCES PETROL PRICES FROM DANGOTE REFINERY ACROSS NIGERIA 1. Announcement by NNPC: The Nigerian National Petroleum Company (NNPC) Ltd released the retail prices of Dangote petrol for different states across Nigeria. The announcement was made via a social media post on Monday, September...

188 OIL THEFT CASES RECORDED IN ONE WEEK The Nigerian National Petroleum Company Limited (NNPCL) reported 188 cases of oil theft between August 24 and 30, 2024, with incidents spread across the Niger Delta. Key findings include: 1. Illegal Refineries: 89 illegal refineries were located and...

OVH ACQUISITION: CAC DISSOLVES NNPC RETAIL, NUEOIL 1. Dissolution by CAC: - The Corporate Affairs Commission (CAC) dissolved NNPC Retail and Nueoil Energy following their acquisition by OVH Energy Marketing Limited. NNPC Retail, incorporated on 21 June 2009, and Nueoil Energy, incorporated...

TINUBU HAS NO INTEREST IN OVH ACQUISITION- NNPC Key Points: 1. Accusation by Atiku: - Atiku Abubakar, the former Vice President, accused corporate groups close to President Bola Tinubu of taking control of the Nigerian National Petroleum Company (NNPC). - He claimed that Wale Tinubu, the...

Summary: The Nigerian National Petroleum Company (NNPC) Limited has filed a motion in the High Court of the Federal Capital Territory, Abuja, to discontinue its ongoing legal action against several subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)...

The Nigeria National Petroleum Company Ltd and Afreximbank have collaboratively executed a commitment letter and term sheet for an urgent $3 billion loan to repay crude oil obligations. This event occurred on Wednesday at the bank's Cairo headquarters in Egypt, as stated by NNPCL. The disclosure...