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
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
In preparation for petrol loading at the Dangote Refinery on Sunday, 15 September 2024, the Nigerian National Petroleum Company (NNPC) Limited has deployed 100 trucks to the refinery’s fuel loading gantry in Ibeju-Lekki, Lagos. The state-owned oil company announced via its official X account (formerly Twitter) that over 100 trucks had been sent to the […]Read More
The Nigerian government has begun distributing 10,000 compressed natural gas (CNG) conversion kits across the country, as part of the Presidential Compressed Natural Gas Initiative (PCNGi). This is the first step towards a larger target of distributing one million kits by 2027. President Bola Tinubu had earlier mandated the provision of one million free CNG […]Read More
Nigeria’s importation of Premium Motor Spirit (PMS), commonly known as petrol, reached an unprecedented N3.22 trillion in the second quarter of 2024, the highest figure ever recorded in the nation’s history. This information was revealed in the foreign trade report published by the National Bureau of Statistics (NBS). Petrol imports accounted for 25% of Nigeria’s […]Read More
The Grangemouth refinery, Scotland’s only crude processing facility, is set to close in the second quarter of 2025, its owners confirmed on Thursday, as the refinery has struggled to compete with the new complex facilities in Asia, Africa, and the Middle East. The Grangemouth refinery, which was opened by the predecessor of BP in 1924, […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has sought a permanent presence at the Dangote Refinery as part of their ongoing crude supply agreement with the facility. This was disclosed by Devakumar V.G. Edwin, Vice President (Oil & Gas) of the Dangote Group, during an X Space yesterday. “NNPC has informed us that they intend […]Read More
Germany’s power market is in the midst of a significant transition. Demand continues to fall despite normalizing prices, and retired coal and nuclear capacity mean the European giant is now heavily reliant on imports from its neighbors. But it’s not all bad news for the sector. Rystad Energy projections show Germany will surpass its policy […]Read More
For the first time since December 2021, Brent crude oil futures have slipped below $70 per barrel, marking a significant downturn driven by increased supply, declining demand, and a surge in speculative selling. Brent, the global oil benchmark, fell by 2.8%, while US West Texas Intermediate (WTI) crude also suffered a setback, down 42 cents, […]Read More
Nigeria’s average daily crude oil production saw a slight increase in August, rising to 1.352 million barrels per day (bpd), according to the Organisation of the Petroleum Exporting Countries (OPEC). This represents a modest gain of 45,000 bpd from the 1.307 million bpd recorded in July, based on direct communication with Nigerian authorities. However, data […]Read More
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