SENATE COMMENDS NNPC ANTI-CORRUPTION EFFORTS, DRIVE TOWARDS PROFITABILITY

The Nigerian Senate has commended the Nigerian National Petroleum Corporation (NNPC) for its efforts towards entrenching transparency and stamping out corruption from its system. The commendation was given by the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes, Senator Suleiman Abdu Kwari, at a hearing which held at the National Assembly Complex, Abuja, to assess the level of implementation of the National Anti-Corruption Strategy by government agencies and parastatals.  Speaking at the hearing, Senator Kwari, said it is heartwarming to learn that the NNPC was making great strides…

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NNPC FELICITATES WITH NGE PRESIDENT ON RE-ELECTION

The Nigerian National Petroleum Corporation, NNPC, has congratulated the President of the Nigerian Guild of Editors (NGE)), Mr. Mustapha Isa, on his re-election as the president of the Guild. The Group Managing Director of NNPC, Mallam Mele Kyari, in a congratulatory letter he personally signed, stated that Mr. Isa’s re-election did not come to him as a surprise. “Your integrity, dedication, work ethics and outstanding contributions to the Guild and indeed the journalism profession have proven you worthy for another tenure and we pray it continues to take you to…

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NNPC RECORDS 314% INCREASE IN TRADING SURPLUS IN FEBRUARY

The Nigerian National Petroleum Corporation (NNPC) has announced a ₦39.85billion trading surplus for the month of February 2021 representing a massive 314.24% leap from the ₦9.62billion surplus it recorded in January 2021. This is contained in the February 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru. Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue for the period under review.…

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HOW NIGERIAN REFINERIES GULPED N81.41BN AND PRODUCED NOTHING—NNPC

A total of N81.41bn was expended on Nigeria’s refineries between January and August this year but the facilities refined no drop of crude oil all through this period, latest data obtained from the Nigerian National Petroleum Corporation showed. Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company posted a cumulative revenue of N6.54bn during the eight-month period. With a revenue of N6.54bn and a total expense of N81.41bn, the facilities ended up with a deficit of N78.87bn, according to figures contained in the just-released…

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