The Organization of Petroleum Exporting Countries and Allies (OPEC+) will begin adding supply to the market in 2025, for the first time since 2022, Jim Burkhard, vice president of research at S&P Global Commodity Insights, said at the Asia Pacific Petroleum Conference (APPEC) on Monday. “We think in 2025 for the first time in a […]Read More
Japan’s Toyota Motor Corporation has drastically cut its electric vehicle production target by 30 percent compared to previous plans, on the back of the slower EV uptake globally, Nikkei reported on Friday. Toyota, one of the world’s biggest car manufacturers, now aims at rolling out 1 million EVs in 2026, down by 30 percent compared […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has stated that foreign exchange (forex) illiquidity has been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS), which are governed by unrestricted free market forces, as provided for in the Petroleum Industry Act (PIA). Speaking on TVC News’ “Journalists’ Hangout” show on Thursday, […]Read More
The retail arm of the Nigerian National Petroleum Company has revealed an increase in the price of premium motor spirit (petrol) from N617/litre to N897/litre effective today, September 3, 2024. This is coming barely 48 hours after Dangote refinery begins production of petrol. EnergyPlanets can confirm that most retail stations of the NNPC have adjusted […]Read More
Aliko Dangote, CEO of Dangote Refinery, has revealed that the refinery’s commencement of gasoline (petrol) production has accurately equipped Nigeria to track its daily petrol consumption. Dangote made this known in a statement during a press briefing on Tuesday at the petrochemical plant in Lagos. He said the refinery will put an end to round-tripping […]Read More
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has finalised an agreement with the Nigerian National Petroleum Corporation (NNPC) Limited to sell crude oil to the Dangote refinery in local currency, the naira. This is contained in a statement by NMDPRA on Tuesday in Abuja following the commencement of petrol production by Dangote refinery. […]Read More
Aradel Holdings Plc, an indigenous energy company, has signed a sale and purchase agreement to acquire the 100 percent interest in the Olo and Olo West Marginal Fields from TotalEnergies EP Nigeria and the Nigerian National Petroleum Company (NNPC) Limited for $19.5 million. The indigenous energy company revealed that the agreement was made through its […]Read More
Argentina plans to more than double its mining exports from $4 billion to $10 billion by 2027, driven by new lithium projects coming online and efforts to expand copper output, the Argentine Ministry of Mining said on Wednesday. Luis Lucero, Argentina’s newly appointed Mining Secretary, told Reuters that the country is positioning itself to become […]Read More
Exxon Mobil Corp (XOM.N) is exploring the sale of conventional oil and gas assets in the Permian Basin, potentially raising around $1 billion, Bloomberg reported. In a statement to Bloomberg, Exxon said it was “exploring market interest for select conventional assets in West Texas and Southeast New Mexico,” noting that the decision aligns with its […]Read More
Nigeria’s Electricity Regulatory Commission (NERC) on Tuesday granted six states the authority to regulate their electricity markets, transferring oversight to newly established state-level agencies. In a statement on social media platform X, formerly known as Twitter, NERC named Enugu, Ekiti, Ondo, Imo, Oyo, and Edo as the states authorized to manage their electricity sectors. These […]Read More
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