Senegal is on the verge of committing $2.7 billion to its international programme aimed at reducing emissions and cutting reliance on fossil fuels, contingent on the ruling party’s success in this weekend’s parliamentary elections. “If Prime Minister Sonko’s party wins a majority, an announcement could come quickly after the election,” said Remy Rioux, CEO of […]Read More
The global oil market has remained steady despite the 2024 US presidential election, with prices for key crude benchmarks, West Texas Intermediate (WTI) and Brent crude, showing little movement. WTI is currently trading at $71.83 per barrel, reflecting a small 0.36 percent change, while Brent crude stands at $75.48, with just a 0.40 percent fluctuation. […]Read More
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced that the petrol it plans to import will be more affordable than the current rates in the country. In a statement, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, emphasised the need for healthy competition in a deregulated market. He revealed that PETROAN […]Read More
The Dangote Petroleum Refinery has clarified that it has not received any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) for refined petroleum products. In a statement issued by Anthony Chiejina, Group Chief Branding and Communications Officer of the Dangote Group, the refinery stated that discussions with IPMAN are still ongoing. “It is […]Read More
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that its members are unable to load petrol from the Dangote Refinery in Lagos, despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL). IPMAN President Abubakar Garima made this statement during an appearance on Channels Television’s Sunrise Daily programme on Wednesday. […]Read More
Aliko Dangote, president of Dangote Group, announced on Tuesday that his refinery can meet Nigeria’s demand for petrol, noting that about 500 million litres are currently available but not being collected by fuel marketers. Speaking with State House journalists after a meeting with President Bola Tinubu and the Implementation Committee on the Sale of Crude […]Read More
The Federal Government has appointed the African Export-Import Bank (Afreximbank) to act as a financial intermediary for the recent naira-based policy for crude and refined petroleum sales introduced by President Bola Tinubu. Finance Minister and Economy Coordinator Wale Edun shared this development with reporters following a meeting with President Tinubu. Edun explained that Afreximbank, represented […]Read More
The Nigerian National Petroleum Company Limited (NNPC) has again increased the pump price of petrol. The new rates, now in effect, set prices at N1,025 per litre in Lagos and N1,060 per litre in Abuja. Aliko Dangote, chairman of Dangote Group, attributed the ongoing fuel shortages and queues at petrol stations across Nigeria to marketers […]Read More
The Federal Government has allocated over $75 million to develop Compressed Natural Gas (CNG) infrastructure as part of its drive to expand clean energy solutions across Nigeria. This announcement was made by Mrs. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during the 18th OTL Africa Downstream Energy Week in Lagos, reported the […]Read More
The Ghanaian government is considering importing fuel from Nigeria’s newly launched Dangote Refinery in a bid to secure a more affordable fuel supply for its domestic market. Addressing the OTL Africa Downstream Oil Conference in Lagos, Mustapha Abdul-Hamid, Chairman of Ghana’s National Petroleum Authority, emphasised the potential influence the refinery’s output could have on Ghana’s […]Read More
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