Reps launch probe into $18bn spent on dead refineries
The House of Representatives has launched a probe into over $18 billion spent on Nigeria’s state-owned refineries, which remain non-functional despite decades of rehabilitation efforts.
disburses
Nigeria projects 1.8m barrels per day oil output by year-end – Ojulari
Ojulari says Nigeria’s crude oil production is on track to reach 1.8m barrels per day before year-end after hitting its highest level in five years.
NNPC says PENGASSAN strike cuts oil and gas production in Nigeria
NNPC says strike caused 283,000 barrels per day oil loss, 1.7 bscf of gas and over 1,200 MW power shortfall.
Monthly profit of NNPCL rises from 91% to N539bn
NNPCL’s profit rose sharply to N539 billion in August despite declines in oil and gas output, with the company citing maintenance activities and highlighting progress on major gas pipeline projects.
FAAC: NNPC earned N1.06tr but paid No dividend to federation in 8 months
NNPC withheld N2.16 trillion in projected dividends despite earning N1.06 trillion from PSC oil, raising concerns about revenue shortfalls.
EFCC interrogates ex-NNPCL boss Kyari over $7.2bn refinery project
EFCC is questioning ex-NNPCL boss Mele Kyari over alleged misconduct in Nigeria’s $7.2bn refinery turnaround maintenance programme.
Ojulari denies Tinubu influence, says no pressure to act wrongly
NNPC boss Engr. Bashir Ojulari says President Tinubu has not pressured him to cut corners on reforms, pledging sustainable refinery rehabilitation despite attacks and sabotage attempts.
Ojulari says NNPC faces attacks, backs refinery revival plans
Ojulari said NNPC is under attack but vowed not to succumb to pressure, stressing that transformation comes at a price.
Dangote battles ‘ruthless oil mafia’ as NNPC warns of global crude theft syndicates
Nigeria’s oil industry faces dual threats from international crude theft syndicates and entrenched domestic cartels resisting reforms.
NNPCL spends N235.6bn on Northern oil search in seven months
NNPCL allocated N235.6bn to frontier oil exploration in seven months, outpacing host community funds despite criticisms.