Latest news with #NigerianNationalPetroleumCompanyLimited
Business Insider
24-05-2025
- Business
- Business Insider
Nigeria's national oil company announces shutdown of state-owned refinery
The Nigerian National Petroleum Company Limited (NNPC Ltd), in its caretaker capacity, has announced the immediate shutdown of operations at the Port Harcourt Refining Company (PHRC) due to a scheduled maintenance exercise commencing today, May 24, 2025. NNPC Ltd announced the temporary shutdown of Port Harcourt Refinery for scheduled maintenance starting May 24, 2025. The maintenance aims to enhance efficiency, ensure sustainability, and reduce reliance on fuel imports. The shutdown raises concerns about persistent issues in Nigeria's refining infrastructure and performance. The shutdown was announced in a statement issued on Saturday by Femi Soneye, Chief Corporate Communications Officer, who stated that the closure is temporary and intended to enhance the refinery's efficiency and ensure its long-term viability. The statement read: 'The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to inform the general public that the Port Harcourt Refining Company (PHRC) will undergo a planned maintenance shutdown." 'This scheduled maintenance and sustainability assessment will commence on May 24, 2025.' Soneye added. According to NNPC Ltd, the maintenance operation will be conducted in coordination with relevant agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to ensure transparency and technical precision throughout the process. 'We are working closely with all relevant stakeholders to ensure the maintenance and assessment activities are carried out efficiently and transparently, ' Soneye said. NNPC Ltd reaffirmed its commitment to enhancing energy infrastructure and ensuring sustainable energy security for Nigerians. The company noted that the maintenance exercise is part of its broader efforts to boost national refining capacity and reduce reliance on fuel imports. It also pledged to keep the public informed through regular updates on its official website and media channels during the maintenance period, and to implement measures to mitigate any potential disruptions to affected parties. Nigeria's refinery challenges However, this latest shutdown comes amid fresh scrutiny of PHRC's inconsistent performance, with concerns over transparency and accountability. The facility has been burdened by years of underperformance, failed upgrade plans, and rehabilitation setbacks; despite several rounds of funding and government guarantees. Just last month, NNPC Ltd dismissed PHRC's Managing Director, citing internal investigation reports and accountability issues, project delays, and alleged mismanagement of rehabilitation funds. Although today's maintenance announcement is seen as essential upkeep to maintain and improve production, critics argue it highlights deeper flaws in Nigeria's refining strategy, particularly at Port Harcourt Refinery, which remains unable to achieve steady production despite years of major overhaul efforts.
Business Insider
13-05-2025
- Business
- Business Insider
NNPC to resume crude oil drilling in northern Nigeria, confirms peace with Dangote refinery
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to resume crude oil drilling in northern Nigeria. The Nigerian National Petroleum Company Limited (NNPCL) is resuming crude oil drilling in northern Nigeria. The site is estimated to hold over one billion barrels of crude oil and 500 billion cubic feet of natural gas. Collaboration with companies, including the resolution of disputes with Dangote Group, is expected to enhance the project's success and impact. According to the company's new Group Chief Executive Officer, Bayo Ojulari, the Kolmani drilling project, located on the boundary between Bauchi and Gombe states, is expected to deliver significant benefits to Nigerians once completed. ' NNPC will continue oil drilling in the Kolmani field and will continue the work on the AKK gas pipeline from Ajaokuta to Kaduna to Kano. The companies working on the projects will continue, and new ones are also welcome," he said. 'The projects are critical in boosting the economy, and the impact will be felt by all Nigerians. By next month, people will begin to see. We will start work on the AKK gas pipeline and the Kalmoni. ' Oil discovery in the north In 2019, NNPC announced the discovery of hydrocarbon deposits at the Kolmani River II Well, located in the Upper Benue Trough within the Gongola Basin in the country's northeast. This marked the first major oil find in Northern Nigeria and laid the foundation for the Kolmani Integrated Development Project, a strategic initiative to harness the region's hydrocarbon potential. By 2022, the government launched commercial oil drilling in the area. Authorities said the project was expected to attract foreign investment and generate employment for local communities. The site is estimated to hold over one billion barrels of crude oil and 500 billion cubic feet of natural gas, with investment commitments already totalling $3 billion. Dangote, NNPCL resolve feud The relationship between Dangote Group and the Nigerian National Petroleum Company Limited (NNPCL) has been tense in recent years, largely due to disagreements over issues such as the controversial Naira-for-Crude deal, which faced inconsistencies under previous NNPCL leadership. However, according to Mr. Ojulari, the rift has now been resolved. ' We, as Nigerians, must hail Dangote's courageous efforts. Whatever he is investing, he is doing it in Africa. We have addressed the feud between the NNPC and the Dangote Refinery. Very soon, people will start seeing the impact."
BBC News
02-04-2025
- Business
- BBC News
Who dey in and who dey out as Tinubu sack NNPCL oga Mele Kyari
Nigerian President Bola Tinubu don sack di chairman of di board of Nigerian National Petroleum Company Limited, (NNPCL) board Chief Pius Akinyuelure and di group CEO Mallam Mele Kyari plus di oda board members wey im appoint for November 2023. E replace di team wit Engineer Bashir Bayo Ojulari as group CEO and Ahmadu Musa Kida as non-executive chairman as dia appointment dey start immediately. For statement wey di State House release on Wednesday, President Tinubu dey expect say di new board go increase NNPC share of crude oil refining output to 200,000 barrels by 2027 and 500,000 barrels by 2030. E say di board restructuring bin dey important to ginger operational efficiency, restoreinvestor confidence, boost local content, drive economic growth and advance gas commercialisation and diversification. Di oda members of di new board include: Adedapo Segun wey bin dey work as chief financial officer since November. E also appoint non-executive directors wey go represent di kontri geopolitical zone. Dem include: Bello Rabiu for North West, Yusuf Usman for North East, Babs Omotowa for North Central, Austin Avuru for South-South, David Ige for South Wesr and Henry Obih for South East. Oda members for di new board na di permanent secretary of di Federal Ministry of Finance, Mrs Lydia Shehu Jafiya wey go represent di ministry for di board and Aminu Said Ahmed wey go represent di Ministry of Petroleum Resources for di board.
BBC News
25-02-2025
- BBC News
Deadi body wit burn wounds for seaside bust NNPC claim say nobody die for Cawthorne Channel fire
Three deadibodi suspected to be di remains of victims of di fire explosion wey happen for Cawthorne Channel for don wash ashore. Search and rescue teams discover di deadibodies wey get scars of fire burns on Monday, at about 2pm (1400 CET) on di shores of a fishing settlement behind Biekiri for di Cawthorne Channel. Local media report say di location dey around Iloamatoru Community for Bonny local goment area of Rivers State, Southern Nigeria. Dis dey contrary to claims by Nigerian National Petroleum Company Limited (NNPCL) say no casualties dey for di fire incident wey bin happen for dia facility for Cawthorne Channel 1. Na one surveillance team for di area raise alert of di discovery of two bodies but on arrival, dem find only one as waves don carry di oda one. Di search and rescue team carry di first body come go search for di second one, only to discover two oda bodies, making three altogeda. Immediate past Chairman of Iloamatoru Community Surveillance Committee, Daniel Pollyn say e dey sad over di incident, come ask families of staff of NNPCL, OML 18 Energy, Sahara Group and Eroton Exploration & Production Company Limited wey dey work around Cawthorne Channel 1 to check with dia loved ones. E say ,"We go take di corpses to di Police to do di needful but make families of NNPCL, OML 18, Sahara and Eroton wey get pipo wey dey work for dat area to check with dia loved ones. Make dem also check wit di Police to identify di body if na dia relative. Make dem no take dat NNPCL claim seriously, though we no go interfere wit am," e tok. Pollyn come add say on dia part, all dia community members wey dey work dia dey accounted for but, " we no fit say di same for di company workers. Make dia families ask di company kwesions if dia relatives never come home since dat Wednesday." E tok Na on Wednesday, 19 February, 2025 fire incident happun for one facility for Cawthorne Channel 1 wey dey linked to OML 18 for Alakiri for Okrika local goment area wey dey jointly operated by NNPC Eighteen Operating Limited, NNPC Limited and OML 18 Energy Limited. Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, for statement tok say di fire break out for di dry crude storage barge BESTAF5 for Cawthorne Channel 1, Rivers State, and e spread to oda barges. Soneye add say sake of di quick response of di company emergency teams and industry partners, dem successfully contain di fire come add say di incident no impact on flow station operations. Soneye also say no casualties dey as a result of di incident and all personnel wey dey work on di said barges all dey safe, come add say NNPCL dey prioritize di safety of dia staff and stakeholders and dey fully committed to environmental protection and operational integrity. "Most importantly, dia casualties no dey, and all personnel dey safe." Dis claim by di company now get kwesion mark wit di discovery of dis three lifeless bodies wey get clear burn scars for dia bodies. Di search and rescue teams handover all di three recovered deadibodies to di police authority for further investigation.
