Libya’s crude oil production has recovered to 1.3 million barrels daily, the National Oil Corporation has reported, following the resolution of a political dispute over the appointment of a new governor to the nation’s central bank. “Efforts are still ongoing to increase production levels,” NOC also said. Crude production at most Libyan oilfields was suspended […]Read More
Dangote Group has announced its search for a floating production, storage, and offloading (FPSO) vessel with a capacity of 650,000 barrels to support its planned oil production. The company anticipates beginning production at its two Nigerian oil assets, Oil Mining Leases (OMLs) 71 and 72, in the fourth quarter of 2024 (October to December), following […]Read More
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
Nigerian Electricity Distribution Companies (DisCos) generated N431.16 billion in revenues from customers during Q2 2024, reflecting a collection efficiency of 79.31%. This information is detailed in the quarterly report of the Nigerian Electricity Regulatory Commission (NERC) for the second quarter of 2024. The revenue was based on a total billing of N543.64 billion, marking 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
A Nigerian waste management firm has signed a €40 million export agreement with two German companies for the delivery of three waste treatment plants and waste collection trucks to Nigeria. Zoomlion Nigeria finalised the deal with FIMA Industries Germany and FAUN Umwelttechnik GmbH during the German-Nigerian Business Forum held in Lagos on Monday. Lucas Dörr, […]Read More
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