In spite of the immediate benefits of the Nigerian National Petroleum Company Limited ,NNPCL $3 billion commitment letter and term sheet for an emergency crude oil repayment loan, JOSEPH INOKOTONG writes on the need for full disclosure. The announcement by the Nigerian National Petroleum Company Limited (NNPCL) last week that it had secured a $3…
NNPCL, The Nigerian National Petroleum Company Limited has secured a $3 billion crude repayment loan to support the naira and stabilise the foreign exchange market, a terse statement posted on the official account of the company on X (formerly known as Twitter) said on Wednesday. The statement noted that the oil company secured the funding…
Crude Oil Theft, The recent interruption of an ocean-going vessel, MT PRAISEL, by operatives of the Tantita Security Services Nigeria Limited, TSSNL, in Delta State seems to have exposed the internal bad feeling among security agencies protecting oil facilities in the Niger Delta. A reliable source, however, disclosed that the in-house contention pre-dated the August…
Fuel Hike, Following the recent hike of the Premium Motor Spirit (PMS), also known as Petrol or fuel after the removal of the subsidy by President Bola Tinubu-led government, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted at an increase in the product. The IPMAN in a statement issued on Thursday, August 10,…
