Author: Rareview

Engr. Bayo Ojulari, GCEO NNPCL By Ono Yima The Nigerian National Petroleum Company Limited (NNPCL) is facing criticism following revelations of sharp salary increases and allowances for more than 6,200 staff members. Reports indicate that some of the increments reached as high as 50 per cent, with allowances witnessing sharp adjustments. Insiders allege that the raises were backdated, while others argue the decision was necessary to retain and attract top industry talent. According to company disclosures, NNPCL currently employs 6,280 staff, with men accounting for 80.8 per cent (5,077) and women 19.2 per cent (1,203). The Guardian reported that the adjustments have already encouraged staff from other well-paying government agencies to join the company. In its defence, the c...

By Ali Elias  First Direct Gasoline Shipment to America Nigeria’s Dangote Refinery has recorded another milestone in its foray into the international energy market with the export of gasoline to the United States. Energy intelligence firm Argus reported that a vessel, Gemini Pearl, loaded about 300,000 barrels of gasoline at Dangote’s port on August 26, bound for discharge at either New York or New Jersey, according to trade data from Kpler. This marks the first direct gasoline shipment from Nigeria to the U.S., although Nigerian crude has long been a staple feedstock for American refiners.  Growing International Footprint The gasoline shipment is the latest in a string of exports underscoring the growing global footprint of the Lagos-based facility, which at 65...

The Novoshakhtinsky Oil Refinery in Rostov Oblast. Illustrative photo Yandex Photo. By Ali Elias Russia faces mounting challenges in its oil sector, with experts warning of a sharp decline in both its long‑term viability and immediate operational stability.Shrinking Reserves and Investor RetreatThe Foreign Intelligence Service of Ukraine reports that Russia possesses approximately 13.2 billion tons of economically viable, proven oil reserves—a figure that would sustain production for only 25 years at current extraction rates. Nearly 96% of the subsoil fund is already allocated, indicating that almost all discoverable oil fields are under development.This near-total exploitation has corresponded with a dramatic decline in investor interest. According to 2024 auction data, one-time pay...

By Ali Elias The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the appointment of two senior executives, Mr. Andy Odeh and Mrs. Morenike Adewunmi, to lead its corporate communications and stakeholder relations functions. In the new appointments, Odeh will serve as Chief Corporate Communications Officer, while Adewunmi takes up the position of Chief Relations Officer. Both executives bring decades of experience from the oil and gas industry and related sectors.Odeh, a veteran in communications and business administration, has over 30 years of professional experience across oil and gas, advertising, and broadcasting. Before joining NNPC, he spent 26 years at Nigeria LNG (NLNG), where he rose to the position of General Manager, External Relations and Sustaina...

Photo credit: TBI. Chief Executive Officer and Programme Director of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi By Ali Elias The cost of Compressed Natural Gas (CNG), promoted by the Federal Government as a cheaper alternative to petrol and diesel, has risen sharply from N230 to N450 per standard cubic metre, compounding the woes of motorists already grappling with long queues at limited refilling stations. Retailers confirmed that the Nigerian National Petroleum Company Limited’s gas subsidiary, NNPC Gas Marketing Limited, recently reviewed the official price. While truck owners now pay N450/SCM, commercial drivers continue to enjoy partial subsidies at N380/SCM in a bid to keep transport fares stable. An official of the Presidential Compressed Nat...

By Ali Elias The Crude Oil Refiners Association of Nigeria (CORAN) has unveiled plans for its Summit 2025, scheduled for October 6–7 at Eko Hotels & Suites in Lagos. Themes of energy security and investment will dominate under the banner “Refining – Key to Energy Security in Africa”, drawing top leaders from government, industry, finance, and civil society. Addressing a Persistent Refining Deficit Despite being endowed with abundant crude, Africa remains heavily dependent on imported refined products. Nigeria, for example, has historically imported over 90% of its refined fuel, rendering its economy vulnerable to external price fluctuations and fueling foreign exchange pressures. The 2023 removal of fuel subsidies intensified awareness of this dependency, compelling policymake...

By PR The Nigerian Content Development and Monitoring Board (NCDMB) has paid profound tribute to their recently departed staff,Mr. Ukan Rowland Idagbo, Supervisor in the Zonal Coordination Division, by naming a newly established Youth Resource Centre in Abouchechi, Cross River State. The Ukan Idagbo Youth Resource Centre, was unveiled on Thursday, August 28, 2025, at a ceremony attended by dignitaries including the Deputy Governor of Cross River State, Rt. Hon. Peter Odey, Ukan’s elder brother Rt. Hon. Legor Idagbo, members of the National and State Assemblies, Bekwarra Local Government officials, community stakeholders, and NCDMB’s Executive Secretary, Engr. Felix ...

By Ali Elias The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, has disclosed that the country was losing between $300 million and $500 million monthly while the Port Harcourt Refinery was running. Ojulari, who assumed office on April 2, said the refinery was processing crude at a loss, producing less than 40 per cent of the crude pumped into it. “When I resumed, one of the first priorities I focused on was the refinery. I did a quick review to see if we could quickly fix it,” he told leaders of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja yesterday. “What I found is that we were losing between \$300 million to \$500 million on a monthly basis in the refinery. We were pump...