Dangote Refinery Faces Crude Supply Woes Amid NNPC Dispute

Aliko Dangote, Chairman of Dangote Refinery, erred in depending on the Nigerian National Petroleum Company (NNPC) Limited for crude supply, said Olabode Sowunmi, a consultant to the Nigerian parliament on gas and power, at the Continental Energy Investment Forum 2024 in South Africa. “Dangote made a mistake in the calculation which most businessmen shouldn’t do,” […]Read More

IE Talks Tough on Energy Theft, Reaffirms Penalties for Offenders

Ikeja Electric Plc (IE), one of Nigeria’s leading Electricity Distribution Companies, reiterates that offenders caught in the act of energy theft will be immediately charged in court.  The company emphasized that the era of merely imposing loss of revenue (LOR) penalty alone on offenders is over, as it will now enforce the full weight of […]Read More

Just In: NNPC No Longer Owns 20% of Dangote Refinery,

The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Company (NNPC) Limited no longer owns a 20 percent stake in Dangote Refinery. Dangote made this known during a press briefing at the refinery on Sunday. The business mogul revealed that the Nigerian oil company now owns only […]Read More

First Gas Achieved at Jerun Field in Malaysia

The operator of the Jerun field in Malaysia, SapuraOMV Upstream Sdn Bhd, has announced that the first gas has been achieved. Shell plc has a 30 percent equity stake in the field, through its Malaysian subsidiary, Sarawak Shell Berhad, and made a final investment decision on the development in 2021. The field is located around […]Read More

USAID Announces N115 Billion Investment to Boost Nigeria’s Power Sector

The United States Agency for International Development and the Federal Ministry of Power signed a memorandum of understanding on Wednesday to affirm Nigeria’s dedication to electricity sector reforms, ensuring market transparency, liquidity, and expanding access to affordable power. The MOU was signed by USAID/Nigeria Mission Director Melissa Jones and the Permanent Secretary of the Federal […]Read More

Seplat’s N185 Billion Plunge Pulls NGX to Two-Week Low

Seplat Energy Plc saw a significant drop on the Nigerian Exchange (NGX) today, with its share price decreasing by 8.30 percent to end at N3,480. This fall also led to a reduction in market capitalization by N185.16 billion. The decline in Seplat Energy’s stock was a key factor in the Nigerian Exchange’s overall decrease of […]Read More

Nigeria Slashes Diesel Sulphur Content Amid Quality Debates, Industry Controversies

Nigeria has substantially decreased the sulphur content in its imported diesel, according to the National Midstream Downstream Petroleum Regulatory Authority (NMDPRA), as reported by Argus. This action occurs amidst ongoing discussions about the quality of diesel available in the local market. George Ene-Ita, NMDPRA spokesman, informed Argus that due to enforcement and compliance by importers, […]Read More

Shell to invest in Ruwais LNG project in Abu Dhabi

Shell Overseas Holdings Limited, a subsidiary of Shell plc (Shell), has signed an agreement to invest in the Abu Dhabi National Oil Company’s (ADNOC) Ruwais liquefied natural gas (LNG) project in Abu Dhabi through a 10 percent participating interest. “This investment decision builds on our long-standing partnership with ADNOC,” said Shell’s Chief Executive Officer Wael […]Read More

Logistics Challenges, Flooding Cause Of Fuel Queues — NNPC

The Nigerian National Petroleum Company (NNPC) Ltd has disclosed that the fuel queues seen in the FCT and some parts of the country, were as a result of disruption of ship-to-ship (STS) transfer of Premium Motor Spirit (PMS), also known as petrol, between Mother Vessels and Daughter Vessels resulting from recent thunderstorm. In a statement […]Read More

Eni Unveils Major Natural Gas Discovery in Gulf of Mexico

Italy’s supermajor Eni has announced a significant natural gas discovery in the mid-deep waters of the Gulf of Mexico, off the Mexican coast. The new find holds an estimated 300 to 400 million barrels of oil equivalent, according to Eni. The discovery was made in the Sureste Basin, where Eni has already identified over 1.3 […]Read More

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