See more NNPC announces plan to resume oil search in 2 Northern states

• NNPC has announced plans to resume lipid drilling successful the Kolmani field, located betwixt Bauchi and Gombe states
• The vigor institution besides said enactment volition resume successful June and volition besides restart enactment connected the Ajaokuta-Kaduna-Kano (AKK) state pipeline project
• It is estimated that the Kolmani task holds an estimated 1 cardinal barrels of lipid and 500 cardinal cubic feet of gas

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

The Nigerian National Petroleum Company Limited (NNPC Ltd) volition resume crude lipid drilling successful the Kolmani field, located connected the bound of Bauchi and Gombe states, successful June.

This was disclosed by Bayo Ojulari, NNPC constricted Group Chief Executive Officer portion speaking to BBC Hausa Service connected Monday.

NNPC caller brag promises to resume lipid hunt successful bluish states Photo credit: NNPC
Source: Facebook

In the interview, Ojulari said that enactment would besides resume connected the Ajaokuta-Kaduna-Kano (AKK) state pipeline, adding that some projects were captious to the country’s economical development.

Ojulari said:

"NNPC volition property connected with lipid drilling astatine the Kolmani tract and beforehand enactment connected the AKK state pipeline, stretching from Ajaokuta to Kaduna and Kano.These projects are pivotal for strengthening the economy, with their benefits acceptable to beryllium felt by each Nigerians."

The AKK pipeline is simply a 614-kilometre infrastructure task designed to transport earthy state from confederate to bluish Nigeria, passing done Abuja, Kaduna, and Zaria.

It is considered a cardinal portion of Nigeria’s efforts to heighten home state utilisation and spur concern improvement successful the bluish corridor.

Punch reports that NNPC archetypal discovered hydrocarbon deposits successful the Kolmani River II Well successful the Upper Benue Trough successful 2019 and launched commercialized drilling successful 2022.

The state-owned steadfast said implicit a cardinal barrels of crude lipid and 500 cardinal cubic feet of state were recovered successful the region, attracting astir $3 cardinal successful investment, PremiumTimes reports.

Ojulari expressed assurance that some the lipid and state developments would stimulate economical growth, make jobs, and summation authorities revenues.

NNPC and Dangote issues settled

NNPC brag besides confirmed that tensions betwixt NNPC and the Dangote Refinery had been resolved, signalling a caller signifier of practice betwixt the 2 large players successful Nigeria’s lipid sector.

He stated:

"As Nigerians, we indispensable applaud Dangote’s bold efforts. Whatever helium invests, he’s investing it close present successful Africa."We’ve resolved the issues betwixt NNPC and Dangote Refinery, and soon, the interaction volition beryllium undeniable."

Ojulari said the collaboration betwixt NNPC and the refinery would easiness substance proviso bottlenecks.

Ojulari noted:

“Marketers volition bargain substance astatine the refinery immoderate clip they want. If determination are immoderate obstacles, we volition code them."

NNPC reduces petrol prices

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump price to N880 per litre connected Monday, April 21, for its Lagos retail stations.

This caller terms represents a N30 simplification from the erstwhile pump terms of N910 per litre, and present means that NNPC sells petrol cheaper than Dangote's partners successful Lagos.

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Source: Legit.ng