Category: Oil & Gas

Comparing Hollyfrontier‘s Sinclair Refinery Deal With NNPC’s Dangote Refinery Equity Is Untenable

The social media went agog on Friday with various comments and comparison of Hollyfrontier’s US$2.6 billion payment for the 678,000 bpd Sinclair refinery with the NNPC’s $2.7billion equity of the 650,000 bpd Dangote refinery. Majority criticizing and condemning the NNPC’s equity shares in Dangote Refinery should know that the Hollyfrontier US$2.6 billion deal does not include exploration and production assets […]

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NNPC’s $2.7bn Stake Acquisition In Dangote Refinery; Another Kyari’s Milestones

On Wednesday, 4th August, 2021, the Federal Government gave approval to the Nigerian National Petroleum Corporation (NNPC) to acquire a 20% stake in the Dangote refinery for $2.76bn. Minority have spoken against the equity but Nigerians should know that there are a number of realities like transportation, power and other things that petroleum adds to Nations and populations. These are […]

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FEC Approves Acquisition Of 20% Stake In Dangote Refinery

The Federal Executive Council (FEC) has approved the acquisition of 20 per cent minority stakes by the Nigerian National Petroleum Corporation(NNPC) in the Dangote Petroleum and Petro-Chemical Refinery. Timipre Sylva, Minister of State for Petroleum Resources, briefed State House correspondents after the virtual FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa. Sylva said […]

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Federal Ministry Of Finance, Budget And National Planning In Best Position To Give The Breakdown On The $21billion NLNG Dividends

An online media on Wednesday, 4th August 2021 published an “EXCLUSIVE” story titled “Ministry Of Finance, Accountant-General Pass Bucks Over Whereabouts Of $21billion Taken By Nigerian Petroleum Corporation.” The write up was passing the bulk on the Nigerian National Petroleum Corporation (NNPC); to give details and breakdown of the disbursement of over $21billion withdrawn from the dividends’ account of the […]

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BREAKING: FEC Approves $1.4bn For Rehabilitation Of Warri, Kaduna Refineries

The Federal Executive Council has approved contracts for the rehabilitation of Warri and Kaduna refineries at a cost of $1.4 billion. The breakdown shows that $897 million is earmarked for the Warri refinery and $586 million for Kaduna refinery. In March, the Federal Executive Council (FEC) approved the sum of $1.5 billion for the rehabilitation Port Harcourt refinery in Rivers […]

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As NNPC Prepares To Declare 2020 Dividend After 44 Years In Operation

The Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kolo Kyari is truly a round peg in the round hole of the Corporation. You will recall that to consolidate on the gains of the public goodwill that trailed the publication of its 2018 Audited Financial Statement, the Nigerian National Petroleum Corporation followed up with the release of […]

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DPR Plans Maximum Economic Recovery Strategy For Oil, Gas Industry

The Department of Petroleum Resources (DPR) says it is formulating a Maximum Economic Recovery (MER) strategy for Nigeria to attain maximum value delivery from its oil and gas resources. Mr Sarki Auwalu, Director, DPR, made the announcement during a keynote address at the 2021 Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE) on Tuesday in Lagos. […]

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NNPC To Unveil A Comprehensive Divestment Policy Says Kyari

The Nigerian National Petroleum Corporation (NNPC) would soon unveil a Comprehensive Divestment Policy (CDP) that will guide its entire divestment process. The Group Managing Director of the NNPC, Mal Mele Kyari made this known on Monday in Lagos at the 2021 edition of the Nigeria Annual International Conference and Exhibition (NAICE) organised by Society of Petroleum Engineers (SPE) with the […]

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NNPC Set To Declare First Dividend To Nigerians – Kyari

The Nigerian National Petroleum Corporation will declare its first dividend to Nigerians as it prepares to release its 2020 financial statements in the third quarter of this year, the Group Managing Director, Mele Kyari, said on Monday. Kyari disclosed this in Lagos while delivering an address at the opening ceremony of the Nigeria Annual International Conference and Exhibition organised by […]

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Product Theft And Vandalism; Putting NNPC At A Disadvantaged Competitive Position

Pipeline vandalism refers to the willful or deliberate act of damaging petroleum pipelines with the sole aim of stealing crude oil and associated petroleum products. Nigeria spends billions of Naira annually to maintain pipelines used to transport oil products, with hundreds of such pipelines vandalised annually. The Monthly Financial and Operations Report (MFOR) of the Nigerian National Petroleum Corporation (NNPC) […]

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