Minister of state for petroleum resources, Ibe Kachikwu, on Monday met with Claudio Descalzi, the Chief Executive Officer of one of the major International Oil Companies operating in Nigeria.
The Nigerian National Petroleum Corporation, NNPC has assured Nigerians of abundance of petroleum products following the suspension of the strike embarked upon by the National Union of Petroleum and Natural Gas Workers, NUPENG.
Minister of State for Petroleum Resources, Ibe Kachikwu, has been summoned by the Senate to explain the details of the deals which the minister claimed was entered into between Nigerian and Chinese governments on the one hand, and the Indian government on the other.
In an apparent reaction to the economic crunch being experienced in Nigeria, petrol consumption as well as vehicle importation has drastically dropped.
The latest financial report released by the Nigerian National Petroleum Corporation, NNPC, shows that the corporation recorded a loss of N127.73 billion between January and August this year.
The Nigerian National Petroleum Corporation, NNPC, has said that Nigeria has lost about $7 billion or more than N2 trillion to pipeline vandalism as well as the activities of Niger Delta militants from January this year till date.
