The federal government has approved a new system allowing petroleum marketers to obtain petrol directly from the Dangote Refinery, bypassing the Nigerian National Petroleum Company (NNPC) Limited. In a statement on Friday, Wale Edun, the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee, shared updates on the progress of crude purchases and […]Read More
A consortium led by the U.S. oil giant ExxonMobil has completed the initial exploration phase southwest of the Greek island of Crete and has opted to proceed to the second stage, according to Greece’s state-owned Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) on Thursday. ExxonMobil and Helleniq Energy are collaborating on these exploration studies […]Read More
The NNPC Ltd has reiterated its commitment to work with host communities in the Niger Delta region towards lasting peace and economic prosperity. This was disclosed by Group CEO, Mallam Mele Kyari, during a dialogue session with the Niger Delta communities held in partnership with the Office of the Senior Special Assistant to the President […]Read More
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed concern over the increasing petrol pump prices in Lagos and Abuja, cautioning that this could lead to widespread economic challenges nationwide. Dele Oye, the National President of NACCIMA, raised these issues in a statement issued on Wednesday in Lagos. Oye pointed […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has increased the price of Premium Motor Spirit, commonly known as petrol, from N855 per litre to N998 in Lagos and N1030 in Abuja. This price hike, which took effect on Wednesday, was noticeable at all NNPC depots in Lagos State and Abuja. The latest pricing reflects a […]Read More
Alhaji Aliko Dangote, President of Dangote Group, revealed on Tuesday that the Dangote Refinery was constructed without any government incentives. Dangote made this remark during his keynote speech at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit held in Lagos, which was themed “Making Nigeria a Net Exporter of Petroleum Products.” Represented by […]Read More
The Nigerian federal government has announced that the Dangote Refinery has been designated as the sole supplier of jet fuel, or Jet A1, to aviation companies operating within the country. This was revealed by Festus Keyamo, the Minister of Aviation, during an interview with Channels TV on Tuesday. According to Keyamo, airline operators have agreed […]Read More
Mohamed Ibn Chambas, a distinguished diplomat and the African Union High Representative for Silencing the Guns, has hailed the Dangote Refinery, with its capacity of 650,000 barrels per day, as a transformative initiative that could help lift Africa out of poverty. The Chairman of the African Union High-Level Panel on Sudan made this remark during […]Read More
The Federal Government is preparing to supply up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under a naira-for-crude agreement, according to a report by Bloomberg on Monday. The report stated that this significant development is expected to occur within the next two months, amounting to 24 million barrels of Nigerian […]Read More
The Federal Government has revealed that crude oil sales to Dangote Refinery and other local refineries in naira commenced on October 1, 2024. This was confirmed by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, in a statement released on Saturday. The Federal Executive Council (FEC) had approved the sale of […]Read More
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