NNPC

By Uzair Adam

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, commonly known as petrol, across the country.

In Kano, the price has risen to N904 per litre at NNPCL filling stations.

Contrary to some reports, the Federal Government has denied instructing NNPCL to sell petrol at ₦1,000 per litre.

This clarification was made in a statement issued by Nnemaka Okafor, the Special Adviser on Media and Communication to the Minister for Petroleum Resources (Oil), Heineken Lokpobiri, on Tuesday.

The statement dismissed the report as false and intended to cause confusion in the oil industry.

Despite this, an internal message circulating allegedly from NNPCL suggested a different price point.

The message indicated an upward review of the petrol pump price from N617 per litre to N897 per litre, effective September 3, 2024.

The Daily Reality on Tuesday gathered that NNPCL is now officially selling fuel at N904 per litre.

However, the correspondent noted that the station in Hotoro, Nasarawa local government area, was not dispensing fuel to the public, except to familiar individuals, resulting in long queues.

One motorist expressed frustration over the situation, stating, “This is unfortunate; even with the price hike to N904 per litre, only those they know are being allowed to buy fuel. We have been here for over two hours.”

An anonymous staff member at the station revealed that the directive to increase the pump price came from NNPCL on Tuesday.

By Abdullahi Mukhtar Algasgaini

The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700 billion (28%) when compared to the 2022 profit of N2.548 trillion.

In a world press conference held at the NNPC Towers in Abuja on Monday, the Chief Financial Officer of the Company, Mr.

Umar Ajiya said the release of the AFS is a testament to the Company’s commitment to transparency and accountability.

“Our fiscal performance reflects both strategic foresight and operational resilience. Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Ajiya stated.

Ajiya added that posting such impressive returns demonstrates NNPC Ltd’s commitment to sustaining profitability and supporting the attainment of national energy security as stipulated by the Petroleum Industry Act (PIA) 2021, and by extension, as expected by the Company’s shareholders.

Explaining that the NNPC Ltd. will announce its Initial Public offer (IPO) once the shareholders and Board make a decision, he also debunked claims on subsidy payment, saying the Company was only taking care of PMS importation shortfall between it and the Federation.

Speaking earlier at the press conference, the Chairman of the NNPC Ltd. Board, Chief Pius Akinyelure said that the excellent performance came as the fruit of the PIA 2021, and the commitment of the Board, Management and staff of the company.

Akinyelure added that the shareholders of the company have since approved a final dividend of N2.1trn in line with PIA 2021 provisions.In her remarks at the briefing, the Executive Vice President, Upstream, Mrs.

By Uzair Adam Imam

The Nigerian National Petroleum Company Limited (NNPC) has announced plans to hire new staff.

A statement by NNPC spokesperson, Olufemi Soneye, confirmed the development on Friday.

The recruitment will be for various positions across various departments within the energy company.

Interested applicants have been directed to visit the NNPC careers page for application instructions.

“NNPC Ltd is pleased to announce that we are currently hiring for multiple positions across various departments.

“We are seeking talented and dedicated individuals to join our team. Visit our careers page for application instructions,” the statement read.

However, due to unprecedented traffic to the NNPC Ltd career page from applicants applying for vacancies, the site is currently experiencing slow load times.

The company has assured that its technical team is working to resolve the issue.

Despite the technical challenge, the application process deadline remains August 20, 2024.

By Sabiu Abdullahi

The Nigeria Customs Service (NCS) and the Nigerian National Petroleum Corporation (NNPC) Limited have reaffirmed their commitment to strengthen their partnership in the fight against fuel smuggling.

According to the Comptroller-General of Customs, Adewale Adeniyi, the collaboration aims to tackle the smuggling of petroleum products outside Nigeria, which constitutes a significant burden on the national economy. 

Adeniyi noted that the price difference between Nigeria and neighboring countries creates a huge incentive for smuggling, but the NCS, through ‘Operation Whirlwind,’ is working to minimize the smuggling of Premium Motor Spirits (PMS).

He highlighted the successes of the operation, including fantastic seizures and the arrest of perpetrators. 

The Coordinator of ‘Operation Whirlwind,’ Comptroller Hussein Ejibunu, reported that the operation has recorded significant victories across the nation, including the interception of 79,000 liters of fuel in Kebbi State. 

Mele Kyari, the Group Chief Executive Officer of NNPC Limited, acknowledged the smuggling of PMS as a major national challenge and sought the Customs’ assistance in minimising the smuggling of PMS outside Nigeria.

He commended the efforts of ‘Operation Whirlwind’ and offered NNPC’s support to combat the crime. Both agencies have agreed to share intelligence and resources to enhance their capacity and motivation to tackle fuel smuggling.

The collaboration aims to create a situation room for data sharing and to ensure the prosecution of arrested perpetrators.

By Muhammadu Sabiu 

Seven private depots were closed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for selling gasoline above the N148 per litre permitted by the federal government.

Independent petroleum marketers had complained in recent months that they were purchasing the product from private depots for more than N200 per litre, making it impossible for them to sell the commodity at the government-approved price.

The Authority’s Chief Executive, Engr. Farouk Ahmed, said the depots would be closed until a decision was made on how to proceed while speaking to journalists on New Year’s Eve in Abuja.

Among the companies, he identified were Ardova, Rainoil, TCL, Bluefin, and NEPAL.

According to Engr. Ahmed, two of the depots are in Lagos, two are in Warri, one is each in Oghara, Port Harcourt, and Calabar.

He reassured customers that the closure would not affect the availability of petrol around the nation, stating that there would be enough fuel for about 30 days.

He said that in an effort to lessen fuel shortages, the authority had many discussions with marketers on how to address supply issues that operators were having.

He also noted that certain privately operated depots were found to continue loading the commodity above the government-approved price, despite having obtained the cargo under favourable circumstances.

By: Ibrahiym A. El-Caleel

British multinational oil corporation, Shell is set to wear a new face of leadership effective 1st January, 2023.This was highlighted by the corporation’s Chief Executive Officer (CEO), Ben van Beurden.

Beurden, a Chemical Engineer and Dutch national announced the development through his LinkedIn page earlier today.

“After a great 39-year career at Shell, I’ll step down as Chief Executive Officer at the end of 2022. Wael Sawan, currently Integrated Gas, Renewables & Energy Solutions Director, will take over from 1 January 2023.”, he said.

While wishing the incoming CEO the best term in office, Beurden remarked that he has great confidence in Wael as his successor. “He is a principled and dynamic leader, who I know will continue to help deliver our #PoweringProgress strategy purposefully and profitably.”, he said in the statement.

Shell is one of the oil multinational corporations involved in the exploration of oil in Nigeria. The company has been working in Nigeria since 1937, and currently has the largest footprint of all the international oil and gas companies in Nigeria.

By Ahmad Deedat Zakari

Nigeria’s former vice president and presidential candidate of the Peoples Democratic Party, PDP, Alhaji Atiku Abubakar, said the Buhari-led government had adopted his proposal to rebrand the Nigerian National Petroleum Company, NNPC

Atiku disclosed this in a post he made on his verified Facebook page on Wednesday, July 20, 2022. He said he is happy the decision was taken, but there is still more to be done to make the NNPC a world-class company.

“I had in 2018 made public my plans to reform the NNPC to make it more profitable, transparent and efficient. The APC-led government denigrated me for my patriotic vision. But today, I am happy to note that the same government has taken a tentative step along the lines of the suggestions that I had made. It is a step in the right direction, but we are still far from what I had envisaged. I hope I’ll have the opportunity to complete the process of turning the NNPC into a genuinely world-class company in the mould of NLNG, Aramco of Saudi Arabia and Petrobras of Brazil, where Nigerians and institutions will invest in. ” Atiku posted 

 Recall that President Muhammadu Buhari, in a televised programme on Tuesday, officially unveiled the rebranding and commercialization of the NNPC.

By Uzair Adam Imam 

The Nigerian National Petroleum Corporation (NNPC) is not recruiting, the General Manager, Group Public Affairs Division, Mr Garbadeen Muhammad, said.

The General Manager made the declaration public in a statement issued in Abuja by the management. 

In the statement, Muhammad urged the general public to discard the rumour in the air that the company was recruiting. 

He reiterated that the information suggesting that NNPC Ltd. was recruiting was false and baseless. 

He stated, “the general public should please take note that NNPC Ltd. is not recruiting.

The statement noted that the NNPC has an official website to make announcements whenever the company intends to recruit. 

The official websites were identified as “(www.nnpcgroup.com); verified Twitter handle (@nnpcgroup); verified Facebook page (@nnpcgroup) and other credible media channels,” he stated.

By Ahmad Deedat Zakari

Hours after meeting President Muhammad Buhari, GCFR at the State House, Abuja, the outgoing Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Muhammad Sanusi Barkindo has passed away.

Mele Kyari, the NNPC GMD, announced Barkindo’s demise in the early hours of Wednesday .

“We lost our esteemed Dr Muhammad Sanusi Barkindo. He died at about 11pm yesterday 5th July 2022. Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community. Burial arrangements will be announced shortly.” Mr Kyari tweeted.

Barkindo who was received by President Muhammadu Buhari at the State House on Tuesday died at the age of 63. The president had described him as a worthy ambassador of Nigeria during Barkindo’s visit to the State House

Barkindo was appointed as OPEC Secretary General in 2016 and his tenure comes to an end on July 31.

By Farid Suleiman

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has revealed that from January to date, Nigeria has lost a total of N623BN worth of crude oil to the activities of oil vandals and operators of illegal refineries.

Reports indicate that the GMD  made the revelation when he appeared before the House of Representative committee on petroleum (upstream) that invited him to ascertain the cause of Nigeria’s low crude oil output.

Kyari said oil thieves steal an average of 250,000 barrels per day. This situation has limited Nigeria’s crude oil output to only 1.49 million barrels per day, against its OPEC quota of 1.753 million barrels per day.

“What is going on has nothing to do with the PIA. It is purely an act of thieves; acts of vandals which have rendered the industry unworkable and taken us to the level where today, our production is around 1.49 million barrels per day.”

“When you lose about 200,000 barrels per day, even at an average price of 65 dollars per barrel, we lost close to 1 billion dollars between January and March. 

“From January to date, we lost an average of 250,000 barrels per day, and at the current price of about 100 dollars to the barrel, even within this short period, we have lost close to 1.5 billion dollars.

“This situation deteriorated to the extent that by March 7, 2022, it came to zero, and so, we shut down the line and declared force majeure. Even on our most reliable pipeline, which is the Forcados pipeline, we still lose about 7000 barrels per day. Needless to say that this is all coming as a result of the acts of vandals and oil thieves,” he said.

However, the GMB assured the lawmakers that massive joint security operations among agencies were ongoing to address the situation.