• Missing Petrol Scandal: NNPC Retires 2 Directors

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    The management of the Nigerian National Petroleum Corporation (NNPC) yesterday announced the retirement of three staff of its Retail subsidiary, NNPC Retails Limited believe to have been involved in the ‘missing’ petrol scandal involving Capital Oil & Gas Nigeria Limited owned by businessman, Ifeanyi Ubah. A press statement by the Corporation’s spokesperson, Ndu Ughamadu identified…

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  • FG To IOCs: Invest In Building Refineries

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    The Federal Government has called on International Oil Companies (IOCs) operating in the country to invest in the building of refineries in the country as part of effort to reduce importation of petroleum products. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu who stated this on Tuesday while meeting with top executives of…

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  • Nigeria’s Local Refining Capacity Grew By 29% In December 2016 – NNPC

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    The Nigerian National Petroleum Corporation (NNPC) in its latest Monthly Financial and Operations Report for January released in Abuja yesterday revealed that the capacity utilization of its refineries rose to 36.73 per cent in January, 2017, as against 7.55 percent in the previous month of December, 2016. According to the report, the combined installed capacity…

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  • NNPC Resumes Product Loading At Mosimi Depot

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    The Nigerian National Petroleum Corporation (NNPC) announced yesterday that loading of petroleum products resumed over the weekend at its Mosimi Area depot in Ogun State, leading to a boost in supply and distribution of products nationwide. The Group Managing Director of the Corporation, Dr. Maikanti Kacalla Baru, was said to have supervised the recommencement of…

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  • No Plans To Increase Petrol Price-PPPRA

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    The petroleum products pricing regulatory agency (PPPRA), the government agency responsible for products price adjustment has denial reports making rounds of an imminent increase in the pump price of Premium Motor Spirit (PMS). According to a press statement issued by the agency and signed by Mr. Victor Shidok, the acting Executive Secretary PPPRA, those speculating…

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  • No Plan To Increase Petrol Price – NNPC

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    ….Cautions against hoarding, panic buying Nigerians have been assured that the federal government has no intension of increasing the pump price of Premium Motor Spirit (PMS), commonly known as petrol from the prevailing price of N145 per litre. The clarification issued by the Nigerian National Petroleum Corporation (NNPC) yesterday is coming on the heels of…

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  • $10trn Investment Needed In Oil & Gas Sector Before 2040 – Barkindo

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    The Secretary General of organization of petroleum exporting countries (OPEC), Mohammad Sanusi Barkindo, on Sunday in Baghdad, Iraq said there is an urgent need for fresh investment in oil sector stressing that about $10 trillion will be required between now and 2040 due to ongoing expansion in the industry. “Overall, we see oil-related investment requirements…

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  • Foundation Pays NECO/SSCE Fees For 600 Students In Edo

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    A total of 600 students from Esan South- East and Esan North- East Federal constituency in Edo State participating in the May/June 2017, NECO/SSCE weekend secured sponsorship in the form of payment of their enrolment fee from the Sergius Oseasochie Ogun Foundation (SOOF). Each of the successful student receive the sum of N15,00 to enable…

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  • Nigeria Moving Out Of Economic Recession – Report

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    A report released by World Economics, a financial analysis organisation, yesterday says Nigeria is on its way out of recession. The reports titled: Sales Managers’ Index (SMI), released Tuesday said, “The data suggests that the Nigerian economy has started growing out of the recession which saw 10 months of consecutive contraction.” This is coming on…

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