Tag: Nigerian National Petroleum Corporation

Nigeria enters $1.5bn oil prepay deal

The Nigerian National Petroleum Corporation has signed a $1.5 billion prepayment deal backed by Vitol Group, Matrix Energy, and the African Export-Import Bank. The deal is also by Standard Chartered. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 law joins CNBC Africa to discuss the significance of this deal.

Nigeria’s NNPC fired 850 workers, many from refineries, oil union says

ABUJA (Reuters) - The Nigerian National Petroleum Corporation (NNPC) has fired 850 workers, many of them from refineries, amidst the coronavirus pandemic, an oil union said on Tuesday.

Nigeria to begin investigation into Lagos explosion

Lawmakers in Nigeria have directed Committees on Petroleum Downstream, Gas Resources and Petroleum Upstream to investigate the Lagos pipeline explosion and urged the Nigerian government contribute to the emergency relief fund created for residents. This follows initial steps taken by Lagos and Nigeria's state-owned oil company NNPC's explanation even as residents debate the cause of explosion. CNBC Africa's Christy Cole has been following the story.

Lagos investigates gas plant explosion, may review 2020 budget

As residents and Nigeria’s state-owned oil company NNPC contest the cause of Sunday’s explosion, Lagos State Governor, Babajide Sanwo-Olu says the state has set up a fact-finding committee on the incident. CNBC Africa caught up with him at the site of the incident where he shared plans to open an emergency two billion Naira fund, and disclosed that the state may have to adjust its 2020 budget.

NNPC: Lagos fire at gas plant likely triggered by gas explosion

An explosion at a gas processing plant in Lagos has left at least 15 people dead and destroyed about 50 buildings. For more on this story, The Acting Coordinator of the Lagos Territorial Office of National Emergency Management Agency, Ibrahim Farinloye joins CNBC Africa for more.

Unpacking NNPC’s new agenda as Kyari steps in

As the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) assumes office today, Ayodele Oni, Chair and Partner of Energy & Natural Resources at Bloomfield Law Practice joins CNBC Africa for more.

Nigeria’s refinery overhaul projects to start in second quarter: NNPC

Refinery overhaul projects will begin in Nigeria as soon as the second quarter, an official from state oil company NNPC said on Tuesday. NNPC is in the final stages of talks with consortiums...

NNPC plans to cut crude production cost to $20/barrel

NNPC plans to cut crude production cost to $20/barrel