Chevron, Shell, Others to Remit N341bn JV Revenue to NNPCL in September Emmanuel Addeh in Abuja Four oil companies - Chevron Nigeria Limited (CNL), Mobil Producing Nigeria (MPN), Shell Petroleum Development Company (SPDC) and First E&P are expected to remit N341.091 billion to the Nigerian National Petroleum Company Limited
(NNPCL) this September, THISDAY has learnt. The proceeds, which are from the sale of domestic crude oil in June this year, are only due to being offset this month in line with the 90-day payment terms between the parties involved. However, an analysis of the data from the NNPCL showed
that the figure fell short of the amount collected as crude oil payables from the oil companies in August. Last month the NNPCL received N422.37 billion for 8.887 million barrels of oil for May 2022 domestic crude payable in August 2022 from its Joint Venture (JV) partners.
The companies that remitted monies in August were Chevron, Mobil, the Nigerian Petroleum Development Company (NPDC), Total, First E&P, as well as Addax Petroleum. But this month, the number of firms that would pay the national oil company has dropped to four.
From the newly released data, Mobil had the highest domestic crude production with 2.849 million barrels, followed by Chevron with 2.817 million barrels. In addition, SPDC owed 948,598 barrels worth of cash while First E&P owed the NNPCL domestic crude worth
650,011 barrels. In monetary value, CNL will pay N131.317 billion, the equivalent of $332.61 million while MPN will remit N134.81 billion, worth $341.4 million equivalent to the greenback. In addition, SPDC is Continued on page 6
Osime, Majekodunmi-Oniru Debut Perspectives on ARISE News… Page 6 Sunday 4 September, 2022 Vol 27. No 10008
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Five Months to Elections, ADC Suspends Presidential Candidate, Kachikwu BIDDING MABOGUNJE FAREWELL… L-R: Former Ogun State Governor, Mr. Gbenga Daniel; Governor Dapo Abiodun; Chief of Staff to the President, Prof. Ibrahim Gambari; and former President Olusegun Obasanjo, at the funeral service of Emeritus Professor Akin Mabogunje at Cathedral Church of Our Saviour, Ijebu Ode…yesterday
Adedayo Akinwale in Abuja The African Democratic Congress (ADC) has suspended Continued on page 12
Southern PDP Stakeholders Mobilise against Ayu, Cracks in Party Widen Wike, Makinde, Fayemi, Omisore meet in London Dispute stalls govs’ meeting Rivers, Abia, Oyo absent as Atiku meets party’s guber candidates I am not leaving the PDP, Ikpeazu clarifies Chuks Okocha in Abuja Ahead of the meetings of the Board of Trustees (BoT), and National Executive Committee (NEC) of the Peoples Democratic Party (PDP) scheduled for Wednesday and Thursday, respectively, the cracks in the main opposition party have widened with the southern stakeholders mobilising against the National Chairman of the
party, Dr. Iyorchia Ayu, THISDAY has learnt. THISDAY gathered that the Rivers State governor, Mr. Nyesom Wike; Oyo State Governor, Mr. Seyi Makinde; Ekiti State Governor, Dr. Kayode Fayemi and the National Secretary of the All Progressives Congress (APC), Mr. Iyiola Omisore, also meet in London Continued on page 5
CEMENTING TIES WITH US… Vice President Yemi Osinbajo (left), and the United State Vice President, Kamala Harris, during Osinbajo’s courtesy visit to Harris in Washington DC...weekend
Shun Leaders Who Build Ethnic Walls, Religious Barriers, Jonathan Advises Youths… Page 12