The $550 million upstream gas project between the NNPC Ltd and TotalEnergies on the development of the Ubeta field has taken off, the Presidency announced on Tuesday. Special Adviser to the President on Energy, Olu Verheijen, disclosed this during an inaugural US-Nigeria Strategic Energy Dialogue, hosted by the US State Department in Washington, DC. The […]Read More
The Presidential Compressed Natural Gas Initiative (PCNGI), a project aimed at increasing the use of gas to power automobiles in Nigeria, has inked separate agreements with 75 conversion enterprises around the country as part of the government’s strategy to reduce dependence on petrol and diesel. With agreements now in place in eight states and plans […]Read More
The Nigerian National Petroleum Company (NNPC) has disclosed the projected petrol prices sourced from the Dangote refinery for its retail outlets in Lagos and other states nationwide. According to a statement issued by the company’s Chief Corporate Communications Officer, Olufemi Soneye, NNPC is purchasing petrol in US dollars from the Dangote refinery for September. However, […]Read More
The Dangote Refinery has refuted claims that it sold petrol to the Nigeria National Petroleum Company (NNPC) Limited at a rate of N898 per litre. Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote Refinery, made this clarification on 15 September 2024. The NNPC commenced the loading of Premium Motor Spirit (PMS) from the […]Read More
Despite recent claims by the Nigerian National Petroleum Company Limited (NNPC) that it is not the sole offtaker of refined petrol from the Dangote Refinery, Finance Minister Wale Edun has stated otherwise, affirming that the NNPC will be the only purchaser of the refinery’s petrol output. On Sunday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has officially started transporting refined petrol from the Dangote Petroleum Refinery. This move aligns with the federal government’s announcement that petrol distribution from the refinery to NNPC would commence on 15 September 2024. The news was shared via a post on the Dangote Group’s official X account (previously […]Read More
In preparation for petrol loading at the Dangote Refinery on Sunday, 15 September 2024, the Nigerian National Petroleum Company (NNPC) Limited has deployed 100 trucks to the refinery’s fuel loading gantry in Ibeju-Lekki, Lagos. The state-owned oil company announced via its official X account (formerly Twitter) that over 100 trucks had been sent to the […]Read More
The Nigerian government has begun distributing 10,000 compressed natural gas (CNG) conversion kits across the country, as part of the Presidential Compressed Natural Gas Initiative (PCNGi). This is the first step towards a larger target of distributing one million kits by 2027. President Bola Tinubu had earlier mandated the provision of one million free CNG […]Read More
Libya’s crude oil exports are projected to fall by at least 300,000 barrels per day (bpd) in September, despite a modest recovery in production. Analysts at FGE have reported that Libya’s crude production has risen by around 200,000 bpd since the beginning of the month, now standing between 650,000 and 700,000 bpd. However, exports from […]Read More
Nigeria’s importation of Premium Motor Spirit (PMS), commonly known as petrol, reached an unprecedented N3.22 trillion in the second quarter of 2024, the highest figure ever recorded in the nation’s history. This information was revealed in the foreign trade report published by the National Bureau of Statistics (NBS). Petrol imports accounted for 25% of Nigeria’s […]Read More
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