In spite of the rise in the price of crude oil in the international market, the #NNPC has ruled out any increment in the ex-depot price of Premium Motor Spirit (petrol) in February, 2021.
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2. This was disclosed in a press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru @kennieobateru.
3. The statement explained that the decision was to allow ongoing engagements with organized labour and other stakeholders on an acceptable framework that will not expose the ordinary Nigerian to any hardship, to be concluded.
4. NNPC urged petroleum marketers not to engage in hoarding of Premium Motor Spirit (petrol)in order not to create artificial scarcity & unnecessary hardship for Nigerians while giving assurance that it has enough stock of petrol to keep the nation well supplied for about 40 days
5. It further called on relevant regulatory authorities to step up monitoring of the activities of marketers with a view to sanctioning those involved in products hoarding or arbitrary increase of pump price.
6. It would be recalled that the nation’s downstream sector was deregulated in March 2020 with the Minister of State for Petroleum Resources, Chief Timipre Sylva, stating that the prices of petroleum products would be determined my prevailing market forces.
Dr. Kennie Obateru
Group General Manager
Group Public Affairs Division
Nigerian National Petroleum Corporation
NNPC Towers, Abuja.
17th February, 2021.
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Announcement of Final Investment Decision (#FID) for Brass Fertiliser & Petrochemical Company Ltd (BFPCL)'s Integrated Project.
Details shortly...
The BFPCL is an incorporated company which has @NNPCgroup, @OfficialNCDMB & DSV Engineering as Shareholders. Today's significant milestone of achieving an #FID symbolizes the full support of the Fed Govt for the construction & operation of “the first Methanol Plant in Nigeria”.
"When completed, the BFPCL Project will bring about 3 Billion Dollar foreign direct investment, generate employment of 30,000 jobs during construction period and 5,000 during operations. This is a huge milestone" #BrassFertiliser_FID#DecadeOfGas
Otedola Bridge Explosion: @NNPCgroup Commiserates with Victims, Lagos Govt
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1a. The #NNPC has commiserated with the Govt and people of Lagos State and especially the victims over the unfortunate tanker explosion which occurred on the Otedola Bridge..
1b... in Lagos, in the early hours of Saturday.
2a. According to reports, the unfortunate incident occurred when a container truck loaded with fabric experienced a brake failure and collided with a 33,000ltrs fuel tanker loaded with Premium motor spirit (PMS), belonging to a downstream operator,...
1. Barely five months after publishing its 2018 Audited Financial Statement, the Nigerian National Petroleum Corporation (#NNPC) has released its 2019 Audited Financial Statement with a 99.7% reduction in its loss profile from ₦803bn in 2018 to ₦1.7bn in 2019.
2a. A statement by the Corporation's spokesman, Dr. Kennie Obateru, quoted the NNPC Chief Financial Officer, Mr. Umar Ajiya, as saying that the 2019 Audited Financial Statement, which was concluded five months after the release of the 2018 Audited Financial Statement...,
"#NNPC as an enabler orgn has since realised the obvious economic importance of gas & has consistently taken concerted steps to delivering the right infrastructure & commercial structures that deliver value to customers & all stakeholders." --GMD @MKKyari @ the #SouthEastGasForum
"A good example is the imminent completion of the landmark OB3 gas pipeline project which will help commercialize over 2BCF/D of gas and generate Billions in revenue and thousands of employment opportunities." ---GMD @MKKyari
at the #SouthEastGasForum
In compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly.
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2. Effective 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from N133.28/litre to N113.28/litre.
3. These reductions will therefore translate to N125/litre retail pump price.
@MKKyari: "I am grateful for the privilege given to me to address this very important conference and distinguished audience. I am attuned with the theme of this year’s conference, especially at this time that the industry is becoming increasingly ambitious and also challenged."
@MKKyari: No doubt, the emergence of Artificial Intelligence has altered the dynamics of our operations by providing quicker processes & interventions in the conduct of petroleum operations. This also is on the back of big data that provides the platform for effective AI system."