Warri, Kaduna Refineries Still Idle Despite $2.9 Billion Allocation – CSOs

BusinessNewsNigeriaOil & GasWarri, Kaduna Refineries Still Idle Despite $2.9 Billion Allocation – CSOs

Uzoamaka Ikezue (Staff Reporter)December 12, 2024

Human rights lawyer, Chief Femi Falana (SAN) and a coalition of 145 Civil Society Organisations (CSOs) have expressed concerns over the $2.9 billion reportedly allocated for the rehabilitation of Nigeria’s three local refineries, Warri, Kaduna, and Port Harcourt. The coalition has called on the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation Limited (NNPCL), Mallam Mele Kyari, to address the pressing questions surrounding the utilization of the funds. They are demanding detailed...

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Community Fault Claims By NNPCL On Port Harcourt Refinery

BusinessNewsNigeriaOil & GasCommunity Fault Claims By NNPCL On Port Harcourt Refinery

Hassan Umar Shallpella (Regional Correspondent)November 29, 2024

Alesa community stakeholders have alleged that the petroleum products loaded from the recently revived Port Harcourt Refinery were not newly refined but petrol products left in the storage tank of the facility in the last three years. Timothy Mgbere, the Secretary of the community disclosed this during on Arise TV on Thursday, noting that the Nigerian National Petroleum Company Limited told Nigerians many lies about the revived refinery. He dismissed NNPCL’s position that the Port...

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Fuel Prices Soar as NNPCL Ends Subsidy Role in Dangote Refinery Deal

NewsNigeriaOil & GasFuel Prices Soar as NNPCL Ends Subsidy Role in Dangote Refinery Deal

By Ezinwanne Onwuka (Senior Reporter)October 10, 2024

The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of Premium Motor Spirit, PMS, commonly known as petrol, across its retail outlets nationwide. The development follows recent changes in the company’s role in petroleum distribution. In Abuja, the capital city, NNPCL fuel stations have raised the price of petrol from N897 per litre to N1,030 per litre amid long queues. In Lagos, the price of petrol has also surged from N885 per...

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We’re Still Negotiating With Dangote Refinery-IPMAN

NewsNigeriaOil & GasWe’re Still Negotiating With Dangote Refinery-IPMAN

Hassan Umar Shallpella (Regional Correspondent)October 9, 2024

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says negotiations are still ongoing with the Dangote Refinery regarding the commencement of oil lifting operations. The chairman of IPMAN, Abubakar Maigandi, stated in an interview with BBC Hausa that it is widely known that the NNPCL is currently the sole offtaker of oil products from Dangote, with IPMAN members serving in a retail capacity. He emphasized that the union is actively engaging with the leadership of...

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NNPC, Dangote Refinery Finalise Agreement on Crude Supply and Payment in Local Currency

NewsNigeriaOil & GasNNPC, Dangote Refinery Finalise Agreement on Crude Supply and Payment in Local Currency

By Ezinwanne Onwuka (Senior Reporter)October 8, 2024

The Dangote Oil Refinery is set to receive up to 400,000 barrels of Nigerian crude daily over the next two months, marking a significant shift in the country’s oil market. This move is expected to transform Nigeria’s import and export markets as the refinery ramps up its local feedstock processing. According to reports, the refinery, located outside Lagos, will take delivery of about 24 million barrels of Nigerian crude in October and November 2024. The...

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Nigeria’s Fuel Imports Drop 13.77 Percent After Subsidy Removal

NewsNigeriaOil & GasNigeria’s Fuel Imports Drop 13.77 Percent After Subsidy Removal

PilotnewsOctober 2, 2024

The National Bureau of Statistics, NBS, has revealed a reduction in Nigeria’s petrol imports following the removal of the fuel subsidy by President Bola Tinubu in May 2023. According to the NBS, fuel imports dropped to 20.30 billion litres in 2023, a 13.77 per cent decrease compared to the 23.54 billion litres recorded in 2022. This data was disclosed in the latest petroleum products distribution statistics released by the agency on Tuesday. The report highlighted...

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NNPC Destroys Over 8,000 Illegal Refineries

Law & JusticeNewsNigeriaOil & GasNNPC Destroys Over 8,000 Illegal Refineries

Hassan Umar Shallpella (Regional Correspondent)September 29, 2024

…Targets 3 Million Barrels Per Day Amidst War on Oil Theft The Nigerian National Petroleum Corporation Limited, NNPCL, has destroyed over 8,000 illegal refineries across the country in the last six months. This was disclosed by the Deputy Manager, Command and Control Centre of the NNPCL, Murtala Muhammad, during a stakeholders’ engagement session in Abuja on Saturday. Muhammad, in a presentation on the menace of crude oil theft and its effects on Nigeria’s economy, revealed...

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ExxonMobil Plans $10 Billion Investment in Nigeria’s Deep-Water Oil Operations

InvestingNewsNigeriaOil & GasExxonMobil Plans $10 Billion Investment in Nigeria’s Deep-Water Oil Operations

By Ezinwanne Onwuka (Senior Reporter)September 27, 2024

ExxonMobil has announced its commitment to invest US$10 billion in Nigeria’s deep-water oil operations, a move welcomed by the Nigerian government as a clear indication of the country’s improving investment climate. The announcement was made by Shane Harris, the chairman and managing director of ExxonMobil Affiliates in Nigeria, during a high-level meeting with Vice President Kashim Shettima on the sidelines of the ongoing 79th session of the United Nations General Assembly, UNGA, in New York....

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NNPCL Loads Petrol At N898 Per Litre As Dangote Refinery Begins Distribution

NewsNigeriaOil & GasNNPCL Loads Petrol At N898 Per Litre As Dangote Refinery Begins Distribution

By Ezinwanne Onwuka (Senior Reporter)September 15, 2024

The Dangote Petroleum Refinery has commenced the loading of premium motor spirit (PMS), also known as petrol, at its gantry, signalling the beginning of a new era in Nigeria’s downstream petroleum sector. The Nigerian National Petroleum Company Limited, NNPCL, started loading petrol on Sunday after deploying over 100 trucks to the petrol-loading gantry of Dangote refinery on Saturday afternoon, in preparation for the scheduled petrol loading on Sunday. This marks a significant step following the...

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NUPRC Denies Shell’s $1.3 Billion Asset Sale To Renaissance Consortium

NewsNigeriaOil & GasNUPRC Denies Shell’s $1.3 Billion Asset Sale To Renaissance Consortium

Uzoamaka Ikezue (Staff Reporter)September 11, 2024

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted claims that it has approved Shell International Plc’s $1.3 billion sale of its onshore assets to Renaissance Consortium. Mrs. Olaide Shonola, Head of Public Affairs and Corporate Communication, who signed the press statement on Wednesday, emphasized that the information published in Businessday on September 11, 2024, is incorrect and didn’t originate from the Commission. NUPRC had confirmed its commitment to transparency and stated that it will...

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