NIGERIAN REFINERIES LOST 77BIL NAIRA IN THE FIRST 6 MONTHS OF 2019- NNPC

September 3, 2019 ’Femi Asu Federal Government-owned refineries located in Port Harcourt, Kaduna and Warri lost N77.15bn in the first six months of the year, the Nigerian National Petroleum Corporation has said. The refineries posted a loss of N68.10bn in the same period in 2018, according to the NNPC data obtained by our correspondent on Monday. The Port Harcourt Refining Company has two refineries, while the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company have one each. The refineries have a combined installed capacity of 445,000…

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NNPC GMD SPEAKS ON SECRETS ACCOUNTS AND SHORT PAYMENTS BY OIL MAJORS

Uche Usim, Abuja In a sustained effort to check graft and plug leakages in government institutions, the Special Presidential Investigative Panel for the Recovery of Public Property, chaired by Mr Okoi Obono-Obla, visited the management of the Nigerian National Petroleum Corporation (NNPC), where it requested for illumination into perceived dark areas like alleged underpayments, secret accounts and other financial misdeeds. The Corporation, through its Group Managing Director, Mr Mele Kyari, however, told the visiting investigators that it had nothing to hide as it had to gain a lot by being transparent…

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OBONO-OBLAH PANEL SUMMONS NNPC OVER MOBIL’S 1.8BIL DOLLARS SHORT-PAYMENT

Ade Adesomoju, Abuja The Special Presidential Investigation Panel for Recovery of Public Property has summoned the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari, over alleged  $1.8bn owed the Federal Government by Mobil Producing Nigeria Unlimited (ExxonMobil). The summons signed by the panel’s Chairman, Mr Okoi Obono-Obla, a copy of which was obtained by The PUNCH on Tuesday, directed Kyari to appear before the panel “unfailingly” on July 30. The letter with acknowledgment stamp of NNPC GMD’s office dated July 22, 2019 was titled, ‘Summons to appear before…

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NNPC AWARDS CONTRACTS EXCHANGING CRUDE FOR IMPORTED FUEL

LAGOS/LONDON (Reuters) – Nigerian state oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel, oil industry sources told Reuters. Nigerian National Petroleum Corporation (NNPC) headquarters are seen in Abuja, Nigeria July 28, 2017. REUTERS/Afolabi Sotunde/File Photo A total of 15 groupings, with at least 34 companies in total, received award letters, four sources with knowledge of the deals said. The award letters were circulated on Monday. While the contracts have not yet been signed, that is largely a formality as…

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PROTESTING NNPC WORKERS HOLD CHURCH SERVICE INSIDE REFINERY IN DELTA

Theophilus Onojeghen, Warri There was a mild drama on Sunday at the Warri Refining and Petrochemical Company in Ekpan, in the Uvwie Local Government Area of Delta State, where support staff members of the Nigerian National Petroleum Corporation had been protesting the non-regularisation of their engagement since last week Wednesday. As they await the intervention of the management of the NNPC, the protesters took their case to God by holding a church service on the protest ground. The service, which held amidst downpour, saw the workers singing worship songs and…

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AHEAD OF NEW HELMSMAN, NPPC REJIGS PERSONNEL, SACK SOME, RECRUIT SOME

Chineme Okafor in Abuja In anticipation of the resumption of its new Group Managing Director, Mallam Mele Kyari, and his team of seven Chief Operating Officers (COOs) tomorrow, new senior cadre appointments have been made at the Nigerian National Petroleum Corporation (NNPC). This is part of moves to complete the change of guard, which started at the corporation’s top leadership on June 20, THISDAY has learnt. THISDAY reliably gathered that the state oil company had promoted more than 12 of its personnel into senior positions. Sources in the corporation said…

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NNPC WORKERS PROTEST, DUMP COFFIN AT REFINERY

Theophilus Onojeghen, Warri The ongoing protest by support staff members of the Nigerian National Petroleum Corporation at the Warri Refinery on Friday entered its third day with the workers putting a coffin at the main entrance of the Warri Refining and Petrochemical Company. They also vowed not back out of the protest until their demands were met. One of their demands is to be converted into full staff members of the NNPC. However, Saturday PUNCH gathered on Friday that production and other economic activities at the Warri Refinery had been fully grounded…

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WHY BUHARI REMOVED BARU AS NNPC GMD

The Nigerian National Petroleum Corporation (NNPC) on Thursday threw more light on why President Muhammadu Buhari relieved the present Group Managing Director, Dr. Maikanti Baru of the responsibility. The corporation in a statement that the Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, Mr. Ndu Ughamadu issued in Abuja on Friday said that Baru is due for statutorily retire on July 7, 2019, on the ground of attainment of 60 years retirement age. According to the statement, “A follow-up release on the new appointments by the NNPC Group General…

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MEET THE BORNO BORN, NEW NNPC GMD, MELE KOLO YRARI

 Kasim Sumaina in Abuja With his appointment by President Muhammadu Buhari as new Managing Director of the Nigerian National Petroleum Corporation,  Mele Kyari brings with him a wealth experience spanning over two decades. Kyari, a Geophysicist, is an expert in crude oil marketing and currently Nigeria’s Representative at the Organization of Petroleum Exporting Countries (OPEC) where he provides leadership and participates in engagements relating to Crude oil, Gas production and associated market issues. He is considered by many at the NNPC towers as a model servant leader whose actions inspire,…

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