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
The International Energy Agency (IEA) has expressed concerns about possible gas supply challenges due to rising global consumption and ongoing geopolitical tensions as winter approaches. In its latest report, the IEA highlighted that industrial demand, particularly from Asia, is driving a significant increase in gas consumption. The agency predicts that global gas demand will rise […]Read More
As Nigerians continue to endure economic difficulties brought on by the rising petrol pump prices, oil workers and companies under the Ministry of Petroleum Resources have organised a prayer session, seeking divine assistance as the nation faces various challenges. The oil workers, under the banner of Petroleum Industry Christian Fellowship International (PICFI), gathered at a […]Read More
Nigeria is advancing with a new policy framework aimed at revitalising its natural gas sector, seeking to attract up to $10 billion in investment. The proposed measures offer tax incentives to entice both local and international investors to tap into the country’s deep-water gas reserves. The framework, already approved by the Federal Executive Council, is […]Read More
Benchmark crude oil prices surged by more than 4 percent on Thursday due to fears that Israel might strike Iran’s oil and gas infrastructure. In response, Washington tried to calm the situation, assuring that no Israeli strike would occur today to prevent further increases in oil prices. As of 10:47 a.m. ET on Thursday, Brent […]Read More
African oil-producing countries have secured 45 percent of the initial $5 billion required to establish the Africa Energy Bank (AEB), aimed at financing oil projects across the continent in response to a lack of funding from international markets. Nigeria, Angola, and Ghana are among the early financial backers of the Africa Energy Bank, according to […]Read More
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