The Nigerian Army’s 6 Division, in a well-coordinated operation, dismantled 37 illegal oil refining sites in the Niger Delta region. This is part of the ongoing efforts to curb illegal oil bunkering and restore stability to the region. According to military reports, these sites were involved in the illicit processing of crude oil, contributing to…
A significant disagreement emerged between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over the pricing of petrol following the refinery’s first supply to the national petroleum company. The disagreement centers on the price per liter of Premium Motor Spirit (PMS), which was supplied at N898, sparking a debate over the basis for…
The Dangote Refinery, a major player in Nigeria’s petroleum industry, has released the projected prices for Premium Motor Spirit (PMS) at NNPC Retail Stations nationwide for September 2024. These prices vary significantly by region, reflecting transportation costs, demand, and other logistical factors. The pricing information shows a notable difference between northern and southern states, with…
The Federal Government of Nigeria has officially confirmed that the first batch of Premium Motor Spirit (PMS) will be loaded from the Dangote Refinery on Sunday, 15th September. The Nigerian National Petroleum Company Limited (NNPCL) is overseeing the loading process, signaling a critical step in Nigeria’s goal toward energy independence. The announcement was made by…
Minister of Solid Minerals, Dr. Oladele Alake, has commended the groundbreaking $1 billion iron-to-steel project set to commence in Kogi State, emphasizing its importance as a key milestone in Nigeria’s mining industry. The project, which will convert iron ore into steel, is a significant shift towards adding value to the country’s mineral wealth rather than…
On Wednesday, August 14, in Malabo, President Bola Tinubu of Nigeria and President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea signed a landmark agreement that could reshape the energy dynamics of West Africa. The agreement, centered on the Gulf of Guinea Pipeline Project, covers legislative and regulatory frameworks, the establishment and operation of the pipeline,…
Former President Olusegun Obasanjo has raised alarms about potential efforts to undermine the Dangote Petroleum Refinery. Speaking on the matter, Obasanjo suggested that entrenched interests benefiting from Nigeria’s lucrative fuel importation business may seek to frustrate the refinery’s operations. Alhaji Aliko Dangote, the President of the Dangote Group, had earlier accused certain ‘mafias’ of attempting…
Illegal refineries in Nigeria pose a severe threat to both human lives and the environment. According to reports by The PUNCH, from 2021 to 2023, at least 204 individuals lost their lives in explosions at these illicit sites. Workers at these locations often lack proper training and safety equipment, making them particularly vulnerable to accidents….
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that the country’s external reserves have increased to $36.89 billion as of July 16, 2024. This represents a significant rise from the $33.22 billion recorded at the end of December 2023. Cardoso attributed the growth to receipts from crude oil related taxes and…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPCL), Mele Kyari, has announced that the Port Harcourt Refinery will commence operations by August this year. This development is part of a broader initiative by the national oil company to revitalize Nigeria’s refining capacity and reduce dependency on imported petroleum products. Kyari…
