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NNPC defends decision to rehabilitate PH refinery

The Nigerian National Petroleum Corporation (NNPC) has defended the approval of $1.5 billion for Port Harcourt refinery rehabilitation, stating that apart from following due process, building a new refinery in the class of the one in Rivers will cost the federal government between $7 billion and $12 billion.

Aramco to reduce spending as profit slumps

Oil giant Saudi Aramco is betting on an Asian-led rebound in energy demand this year after it reported a steep slide in net profit for 2020 on Sunday and cut down its spending plans.

DPR remits N2tn to FG

The Department of Petroleum Resources (DPR) announced that it generated over N2tn for the Federal Government in 2020.
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