Aliko Dangote, the Chief Executive Officer of Dangote Refinery, has criticised the Nigerian National Petroleum Company (NNPC) Limited for pulling out of the original agreement to acquire a 20% stake in his refinery, labelling the move as “a big mistake.” Speaking during an interview with Bloomberg TV in the United States on Monday, Dangote explained […]Read More
Aliko Dangote, Chief Executive Officer of Dangote Refinery, has addressed the ongoing concerns about fuel pricing, asserting that the petrol sold by his refinery to the Nigerian National Petroleum Company (NNPC) was offered at a price lower than what the NNPC had imported. Dangote made this clarification on Monday during an interview with Bloomberg TV […]Read More
A gas leak leading to an explosion in an Iranian coal mine has claimed 51 lives, according to Iranian state media, which described the ongoing rescue operations as highly challenging. The explosion took place in two sections of the Madanjoo mine in Tabas, South Khorasan, eastern Iran. The mine is managed by a private local […]Read More
President Bola Tinubu has announced that the elimination of the fuel subsidy has significantly cut Nigeria’s daily petrol consumption, reducing it from several million litres to approximately 30 million litres. Speaking on Thursday during a meeting with former lawmakers at the State House in Abuja, President Tinubu highlighted that the subsidy’s removal has given the […]Read More
The Nigerian government has initiated discussions with Libya on the construction of a gas pipeline connecting the two nations. This was revealed by Nigeria’s Minister of Petroleum (Gas), Ekperikpe Ekpo, during a meeting with Libya’s Oil Minister, Dr. Khalifa AbduAlsadik, at the Gastech Exhibition and Conference 2024 in Houston, USA. Ekpo indicated that the proposed […]Read More
French energy giant TotalEnergies has begun seeking deepwater rigs and support vessels to kickstart the development of vast oil reserves discovered off the coast of Suriname, according to anonymous sources familiar with the tenders, reported Bloomberg on Friday. The Atlantic Basin’s exploration and resource development are now thriving, particularly following ExxonMobil’s significant progress in neighbouring […]Read More
Kyari Bukar, a former Chairman of the Nigerian Economic Summit Group (NESG), has said that President Bola Tinubu should have removed petrol subsidy gradually to lessen the effect on Nigerians. He said that fuel prices should have been removed by 5 percent every six months and that way, the public won’t quickly feel it. Bukar, […]Read More
In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd. has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd.’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 […]Read More
Nigeria’s recent fuel price increase has ignited widespread concern, with many placing the blame on oil producers, particularly local operators like the Dangote Refinery. However, OPEC Secretary General, Haitham Al Ghais, has clarified the situation, pointing out that the real drivers of high fuel prices are taxes imposed by governments, including those of major oil-consuming […]Read More
Crude oil prices were on the rise Thursday morning, following the US Federal Reserve’s decision to reduce interest rates by 0.5% on Wednesday. While the announcement briefly lifted prices on Tuesday, the surge was short-lived, as it raised concerns about the state of the US economy. Later in the day, prices began to climb again, […]Read More
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