The Nigerian National Petroleum Company Limited (NNPC) has announced a significant financial performance for March 2026, reporting a Profit After Tax (PAT) of ₦276 billion. The company also recorded an increase in oil and gas production within the period. According to the NNPC Limited Monthly Report Summary for March 2026 released on Monday, the national …
Nigeria National Petroleum Company Limited (NNPC) has announced the completion of the River Niger crossing of the Obiafu-Obirikom-Oben (OB3) gas pipeline, a project that will unlock a transport capacity of 2 billion standard cubic feet per day (2bcf/d) of gas. NNPC GCEO, Bayo Ojulari, made this known in a statement posted on his X handle on Thursday, …
The Nigerian National Petroleum Company Limited (NNPC) has stated that its crude oil trading has risen to a five-year high of 1.71 million barrels per day (mbd) within the last one year under the watch of its Group Chief Executive, Bayo Ojulari. This is contained in NNPC’s newly released One-Year Mandate Report covering April 2025 to …
The Nigeria National Petroleum Company Limited (NNPC) has debunked information currently circulating, which claims that the Company is selling scrap materials, and equipment from its refineries to individuals and private companies. In a statement signed by the NNPC Chief Corporate Communications Officer, Andy Odeh, the national oil firm described the information as “misleading and false”, …
The Nigerian National Petroleum Company Limited (NNPC) saw its profit after tax drop by 64.67 per cent to ₦136 billion in February 2026, down from ₦385 billion in January, despite a 4.2 revenue increase to ₦2.68 trillion. The sharp profit decline came as crude oil and condensate production fell to 1.51 million barrels per day …
Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Engr. Bashir Bayo Ojulari, has attributed the growth of crude oil production in the country in the last four years to improved security of oil pipelines in the Niger Delta. He said the establishment of the integrated energy security for pipelines in the …
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian government to declare a state of emergency on crude oil and gas production in the country as part of efforts to boost the energy self-sufficiency drive. PETROAN National President, Dr Billy Gillis-Harry, who appeared on Channels Television Business Morning on …
Nigeria has exported the first cargo of its newly introduced Cawthorne crude grade, with approximately 950,000 barrels en route to India's Sikka port. A report by Platts, part of S&P Global Energy, said a spokesperson for the Nigerian National Petroleum Company (NNPC) Limited confirmed the development, saying the shipping was done during the weekend following regulatory approvals …
NNPC has increased crude oil allocations to the Dangote Refinery to seven cargoes for May 2026, up from the five cargoes supplied in previous months. A Reuters report said two trade sources and a refinery official made the disclosure on Tuesday. The increase was in response to record-high fuel prices in Nigeria and significant supply disruptions …
President Bola Tinubu has approved the Final Investment Decision (FID) on the Bonga Southwest deepwater project, estimated to attract about $20 billion in Foreign Direct Investment into Nigeria. This marks a significant step in Nigeria’s quest to attract strategic investments and accelerate sustainable economic growth. According to a statement by Andy Odeh, Chief Corporate Communications …
