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OPEC Chief Blames High Fuel Prices on Government Taxes, Not Dangote Refinery

OPEC Chief Blames High Fuel Prices on Government Taxes, Not

September 19, 2024

Nigeria’s recent fuel price increase has ignited widespread concern, with many placing the blame on oil producers, particularly local operators like the Dangote Refinery. However, OPEC Secretary General, Haitham Al Ghais, has clarified the situation, pointing out that the real drivers of high fuel prices are taxes imposed by governments, including those of major oil-consuming […]Read More

Oil Prices Rise Amid Fed Rate Cut, Geopolitical Tensions

Oil Prices Rise Amid Fed Rate Cut, Geopolitical Tensions

September 19, 2024

Crude oil prices were on the rise Thursday morning, following the US Federal Reserve’s decision to reduce interest rates by 0.5% on Wednesday. While the announcement briefly lifted prices on Tuesday, the surge was short-lived, as it raised concerns about the state of the US economy. Later in the day, prices began to climb again, […]Read More

NERC Approves Transfer Of Electricity Regulation To Kogi

NERC Approves Transfer Of Electricity Regulation To Kogi

September 18, 2024

The Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Kogi State from the Commission to the Kogi State Electricity Regulatory Commission (KSERC). A statement by the regulator on Wednesday said the move complies with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the […]Read More

FG Puts States on Alert as Cameroon Begins Lagdo Dam Water Release

FG Puts States on Alert as Cameroon Begins Lagdo Dam

September 18, 2024

In response to Cameroonian authorities starting to release water from the Lagdo dam, the federal government has placed states along the River Niger and Benue axis on high alert.  To lessen the possibility of flooding in Nigeria, the Nigeria Hydrological Services Agency (NIHSA) announced the progressive release of water from the Lagdo Dam in Cameroon.  […]Read More

NNPC, TotalEnergies’ $550m Ubeta Upstream Gas Project Takes Off

NNPC, TotalEnergies’ $550m Ubeta Upstream Gas Project Takes Off

September 17, 2024

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

Presidential Initiative Signs Deals with 75 Firms to Boost Gas-Powered Vehicle Nationwide

Presidential Initiative Signs Deals with 75 Firms to Boost Gas-Powered

September 17, 2024

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

NNPC Unveils Petrol Prices from Dangote Refinery, Naira Sales Start October

NNPC Unveils Petrol Prices from Dangote Refinery, Naira Sales Start

September 16, 2024

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

Dangote Refinery Denies Selling Petrol to NNPC at N898/Litre

Dangote Refinery Denies Selling Petrol to NNPC at N898/Litre

September 16, 2024

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

NNPC Confirmed as Sole Buyer of Dangote Refinery Petrol

NNPC Confirmed as Sole Buyer of Dangote Refinery Petrol

September 16, 2024

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

NNPC Begins Petrol Lifting from Dangote Refinery

NNPC Begins Petrol Lifting from Dangote Refinery

September 16, 2024

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

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