Aliko Dangote, President of Dangote Petroleum Refinery, announced that the refinery will provide refined products like petrol, diesel, and aviation fuel to both the Nigerian market and other African countries once it is fully operational. Speaking at the Africa CEO Forum in Kigali, Rwanda, on Friday, Dangote stated that the 650,000 barrels per day (bpd) […]Read More
A tank farm in Apapa, Lagos State, reportedly owned by the Nigerian National Petroleum Company (NNPC) Limited, has caught fire, according to the Lagos Fire Service. Margaret Adeseye, Director/CEO of Lagos State Fire Service, explained that the fire stemmed from a spillage of petroleum products within the tank farm’s perimeter. She emphasised collaborative efforts with […]Read More
Dangote Refinery, Africa’s largest refinery, has turned to the United States for its crude oil supply, seeking a substantial shipment of 24 million barrels in the next 12 months starting July 2024. A Bloomberg report said the $20 billion refinery, established by Africa’s richest man Aliko Dangote, has issued a term tender to buy two […]Read More
Russian President Vladimir Putin will visit China for a two-day state visit where he’s set to press Chinese leader Xi Jinping for more support to sustain his country’s sanctions-hit economy and war machine in Ukraine. The May 16-17 visit is Putin’s first foreign trip since he was sworn in for a fifth presidential term one […]Read More
Russian President Vladimir Putin is set to visit China on May 16-17 for discussions with President Xi Jinping, in part to discuss expanding energy and trade partnerships. The state visit, initiated by Xi, will cover topics such as China’s Belt and Road Initiative as well as the situation in the Middle East and Asia, and […]Read More
The Federal Government has restated that it will not determine the price of petroleum products from the Dangote refinery once fully operational. Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the government is urging oil marketers to commence the process of establishing Compressed Natural Gas (CNG) points at […]Read More
President Bola Tinubu has instructed all government ministries, departments, and agencies (MDAs) to purchase only vehicles powered by compressed natural gas (CNG). This directive was communicated through a statement from the President’s spokesperson, Ajuri Ngelale, on Monday. The statement outlines that this decision is a crucial component of the administration’s larger plan to secure energy, […]Read More
While inflation concerns dragged oil prices lower earlier on Monday, with U.S. consumer price data due out Tuesday, by late morning, anticipation of OPEC’s monthly report due on the same time bumped the two key crude oil benchmarks up at least half a percentage point. On Tuesday, OPEC will release its Monthly Oil Market Report […]Read More
The US and China have pledged to further cooperate on methane reduction, among other things, following a first meeting between the countries’ new climate envoys on May 8-9, in Washington. The meeting follows video conferencing between the two sides in January under their “working group on enhancing climate action in the 2020s” initiative. China and […]Read More
TotalEnergies is poised to foster the development of 100 promising startup ventures across 32 African countries, with Nigeria prominently featured, through the fourth edition of the ‘Startupper of the Year Challenge.’ Adesuwa Adewole, General Manager, TotalEnergies Country Services, stated that the fourth edition of the challenge reaffirms TotalEnergies’ commitment to promoting innovation and entrepreneurship and […]Read More
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