NNPC collabos with presidency to fight oil theft Nigerian National Petroleum Corporation (NNPC) has pledged support to the Presidential Committee on Harmonised Standard Operating Procedures on Arrest, Detention and Prosecution of Vessels and Persons in Nigeria’s Maritime Environment (HSOP) to tackle the menace of oil theft and other criminal activities in the nation’s waters. The Group Managing Director of NNPC, Dr. Maikanti Baru, who disclosed this when he received a delegation from the HSOP Committee led by its Alternate Chairman, Air Vice Marshal Ibrahim Shafi’i, in Abuja on Thursday, stated that the NNPC would provide all the necessary support to enable the committee carry out … [Read more...]

NNPC slashes crude oil production cost The Nigerian National Petroleum Corporation (NNPC) has driven down the cost of crude oil production from $78 dollars per barrel as at August 2015 to $23 per barrel representing 70.5 per cent reduction. The Group General Manager of National Petroleum Investment Management Services (NAPIMS), a unit of NNPC, Engr. Dafe Sejebor, who disclosed this during the inauguration of the Anti-Corruption Committee of the unit, said the country had saved a minimum of $3billion per annum. Engr. Sejebor said NAPIMS arrived at the figure after looking at the difference between the $78 and $23 which represent the old and new cost of production in relation to the … [Read more...]

Major Consequencies of restucturing NNPC -Dr. Maikanti Baru 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, on Tuesday, stated that restructuring the Corporation was the surest way to sustainable growth and profitability. “On restructuring of the NNPC, definitely there are benefits in the exercise both to the nation and to the organization itself. If we don’t take … [Read more...]

SHELL Petroleum Development Company of Nigeria, SPDC, has said it will continue to support the cleanup process of Ogoni communities in Rivers State, adding that it had released $10 million take-off fund to the Hydrocarbon Pollution Restoration Agency, HYPREP says Vanguard The firm’s General Manager, External Relations, Mr. Igo Weli, who spoke, weekend, in Port Harcourt at an interactive session with the media on the Ogoni cleanup project, said the United Nations Environment Programme, UNEP, recommendation encouraged a multi-stakeholder efforts driven by the Federal Government. He added that the oil company will continue to play its role alongside other stakeholders under a transparent … [Read more...]

West African Gas Pipeline reaches Cote d’ Ivoire - NNPC The Group Managing Director of the NNPC, Dr. Maikanti Baru, made this disclosure on Wednesday while receiving a delegation from Cote d’Ivoire at the NNPC Towers in Abuja. The Nigerian National Petroleum Corporation (NNPC) has said the West African Gas Pipeline (WAGP) would be extended from Ghana to Cote d’ Ivoire as part of the Federal Government West African energy integration policy. Represented by the Chief Operating Officer, Gas and Power, Engr. Saidu Mohammed, the GMD stated that the extension of WAGP to Cote d’Ivoire would facilitate easy transmission of gas within the West African sub-region. He noted that the visit … [Read more...]