Tag: NNPCL
NNPCL Prepares for Landmark Public Listing Amid Transparency Concerns
The Nigerian National Petroleum Company Limited (NNPCL) has entered the final stages of its long-anticipated transition to a publicly traded entity, announcing plans to list its shares on the capital market in compliance with the Petroleum Industry Act (PIA) 2021. The move, revealed Thursday by Chief Corporate Communications Officer Olufemi Soneye, marks a pivotal moment…
Oil Sector Reforms Attract $17 Billion in Foreign Investment – NNPC
The Nigerian National Petroleum Company Limited (NNPC) has announced that reforms in the oil and gas sector, driven by the Petroleum Industry Act (PIA) 2021 and Executive Orders issued by President Bola Ahmed Tinubu, attracted approximately $17 billion in foreign investment in 2024. This revelation was made by Mr. Udy Ntia, Executive Vice President of…
Fuel Price War: Nigerians to Enjoy Further Petrol Price Reductions as NNPC, Dangote Refinery Compete
Nigerians can expect further reductions in the price of Premium Motor Spirit (PMS), commonly known as petrol, as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery engage in a price war. This development comes as both companies have recently slashed their petrol prices, sparking competition that is set to benefit consumers. On Monday,…
NNPC Ltd. Clinches Best Fully Integrated Energy Company of the Year 2024 Award
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has been honored as the Best Fully Integrated Energy Company of the Year 2024 at the prestigious Nigeria International Energy Summit (NIES) held in Abuja. The award recognizes NNPC Ltd.’s outstanding contributions to the energy sector and its commitment to driving innovation, sustainability, and growth in Nigeria’s…
NNPC Ltd Leads Africa’s Gas Infrastructure Expansion at NIES 2025, Highlights Tinubu’s Reforms as Key Driver for Investment
The Group Chief Executive Officer of NNPC Ltd, Mele Kyari, has declared that Africa is poised to become the next frontier for global energy investment, with Nigeria at the forefront of this transformation. Speaking at the opening ceremony of the 2025 Nigeria International Energy Summit (NIES) in Abuja, Kyari emphasized Nigeria’s pivotal role as Africa’s…
NNPC, Stena Bulk, and Caverton Launch Joint Venture to Transform Africa’s Energy and Maritime Sectors
In a landmark move set to revolutionize Nigeria’s maritime and energy sectors, the Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have announced the formation of a new joint venture. The partnership, formalized in London last week, aims to establish a world-class tanker operation to serve Nigeria and West Africa’s crude…
NNPC Begins Construction of Five Mini LNG Plants in Ajaokuta, Kogi State
The Nigerian National Petroleum Company Limited (NNPCL) has officially launched the construction of five mini Liquefied Natural Gas (LNG) plants in Ajaokuta, Kogi State, marking a significant milestone in Nigeria’s gas infrastructure development. The groundbreaking ceremony, held on January 30, 2025, signals the government’s commitment to expanding domestic gas utilization and positioning Nigeria as a…
NNPCL Confirms Purchase of Petrol from Dangote Refinery at N898 Per Liter
In a significant update, the Nigerian National Petroleum Company Limited (NNPCL) has confirmed that it is purchasing Premium Motor Spirit (PMS) from the Dangote Refinery at a rate of N898 per liter. This confirmation came in a statement released by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, who also addressed concerns about the pricing structure….
Dangote Refinery Refutes Claims of Selling PMS at N898 to NNPCL, Awaits Formal Pricing Announcement
The Dangote Refinery has strongly denied claims circulating that it is selling Premium Motor Spirit (PMS) to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per liter. In a press statement released on September 15, 2024, the refinery’s spokesperson, Anthony Chiejina, described the statement attributed to NNPCL’s spokesperson, Mr. Olufemi Soneye, as “misleading and…
Nigeria Takes Major Step Towards Energy Self-Sufficiency: Crude Purchase and Product Sales in Naira Commence
Abuja, Nigeria – September 13, 2024 In a landmark development aimed at reducing pressure on the naira, eliminating transaction costs, and enhancing the availability of petroleum products, the Federal Government has officially launched the sale of crude oil to local refineries and the corresponding purchase of petroleum products in naira. The Honourable Minister of Finance…