Smugglers Force NNPC to Record N774m Deficit in Petrol Supply

The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that the alleged unwholesome activities of cross-border smugglers of petrol in border states across Nigeria had now forced it to record a daily under-recovery worth N774 million in its importation and distribution of petrol in the country.

Oil prices getting higher, hit $80

Oil prices on Thursday hit their highest since December, 2014, pushed up after U.S. crude inventories posted a 10th straight week of declines and as the dollar continued to weaken. A picture taken on September 16, 2015 shows workers trying to tie a pipe... Full Story...

Drama, confusion trail NNPC contracts

The drama and confusion over the raging contract controversies rocking the Nigerian National Petroleum Corporation (NNPC) got messier, yesterday, as Vice President Yemi Osinbajo denied approving the contentious $26 billion deal, barely hours after his Senior S... Full Story...

NNPC kills N4tr fuel investment

• Takes over imports • Oil corporation explains position • Independent marketers abandon 198 depots, tank farms About N4 trillion downstream investments are being threatened, as over 198 private depots or ... Full Story...

Court grants fmr GMD, Yakubu N300 million Bail

The Federal High Court, Abuja, on Tuesday admitted Andrew Yakubu, former Group Managing Director, Nigeria National Petroleum Corporation (NNPC), to N300 million bail with two sureties. Yakubu was arraigned by the Economic and Financial Crimes Commission (EF... Full Story...