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Nigeria’s national oil company, NNPC Ltd., has taken decisive action by declaring a state of emergency in the country’s oil and gas industry. Mele Kyari, NNPC’s Group Chief Executive Officer, made this announcement during a recent industry event, emphasizing the urgent need for Nigeria to address long-standing challenges plaguing its energy sector. Chief among these…
During a recent inspection tour of the Kaduna Refinery and Petrochemicals Company Limited (KRPC), Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, disclosed that the refinery’s ongoing quick-fix project is expected to resume operations by the end of 2024. The Minister expressed his trust in the refinery’s rehabilitation process and noted that a…
The nation’s fuel consumption has seen a substantial decline of 30% since the removal of petrol subsidy by President Bola Tinubu. This significant revelation was made by Mr. Mele Kyari, the Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), during a media briefing led by the Minister of Finance and Co-ordinating…
In a strategic move to address the economic challenges stemming from a decline in crude oil production and its resulting impact on revenues, the Nigerian National Petroleum Corporation (NNPC) Limited has announced a significant milestone. On Wednesday, the NNPC revealed that it had successfully signed a Commitment Letter and Term Sheet with the African Export-Import…