Oil & Gas Archives - Page 3 of 19 -

News Nigeria Oil & GasNNPCL to Supply 17.6 Million Barrels of Crude to Dangote Refinery in 2 Months

By Ezinwanne Onwuka (Senior Reporter)September 5, 2024

…Dangote Group says NNPCL has not started lifting petrol from its refinery The Nigerian National Petroleum Company Limited, NNPCL, has delivered 30 million barrels of crude oil to the Dangote refinery, according to Adedapo Segun, the Executive Vice President of NNPCL Downstream. Segun revealed this on Arise Television on Thursday, stating that an additional 17.6 million barrels will be supplied soon. The upcoming delivery of 17.6 million barrels will be split into 6.3 million barrels...

Crime & Security News Nigeria Oil & GasInsecurity tops agenda as Anambra State Assembly meets with SEEPCO Oil

Ebuka Onyekwelu (Staff Writer)September 4, 2024

The Anambra State House of Assembly on Tuesday interfaced with Sterling Oil Exploration and Energy Company Ltd – SEEPCO, as part of its oversight on oil exploration in the Ogbaru area of the State. Earlier in August, the Assembly had invited all approved oil explorers in Ogbaru where large quantities of oil and gas in Ogwuaniocha and Ogwuikpele communities are being explored. This invitation followed a delicate visit led by Hon. Chidiebere Ibemeka, the House...

Economy News Nigeria Oil & GasPetrol Production Kicks Off At Dangote Refinery

By Ezinwanne Onwuka (Senior Reporter)September 4, 2024

….First Batch of 25M Litres of Petrol Ready to Hit Nigerian Market The Dangote Refinery, Africa’s largest oil refining facility, officially commenced petrol production on Tuesday, 3 September 2024. This development is expected to significantly impact Nigeria’s fuel supply, reducing the country’s reliance on imported petroleum products. The refinery, located near Lagos, will initially supply 25 million litres of petrol daily, with plans to increase this to 30 million litres by October, according to the...

News Nigeria Oil & GasNNPC Posts N3.3trn Net Profit, Declares Dividend Of N2.1trn

Uzoamaka Ikezue (Staff Reporter)August 20, 2024

The NNPC Limited (NNPCL) has declared a net profit of N3.297 trillion at the close of the financial year which ended in December 2023. According to the corporation, an increase of over N700 Billion (28%) when compared to the 2022 profit of N2.548 trillion was recorded. A press statement on Monday signed by Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, quoted the Chief Financial Officer of the Company, Mr. Umar Ajiya as saying...

News Nigeria Oil & GasFG to Commence Sale of Crude Oil to Dangote Refinery in Naira

By Ezinwanne Onwuka (Senior Reporter)August 20, 2024

The Federal Government has announced plans to start selling crude oil to the Dangote Refinery in naira from 1 October 2024. This decision was made at a meeting with the Technical Implementation Committee led by Minister of Finance, Wale Edun, on Monday. According to a statement by the Ministry of Finance, “The upcoming commencement of Naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024” was discussed at the meeting. The...

News Nigeria Oil & Gas PoliticsNNPC Denies Owing International Oil Companies $6.8bn

Uzoamaka Ikezue (Staff Reporter)August 19, 2024

Nigerian National Petroleum Company Limited (NNPCL) has denied reports making the rounds that it owes the International Oil Companies (IOCs) $6.8bn. In a press statement on Sunday signed by Olufemi Soneye, the Chief Corporate Communications Officer, NNPCL, the National oil company also denied reports that it has not remitted revenues to the Federation Account since January, among other allegations. The statement reads, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been...

News Nigeria Oil & GasOil Companies face severe scrutiny from Anambra House of Assembly

PilotnewsAugust 15, 2024

Anambra Assembly Demands Explanation Over Destruction Of Livelihood in Ogbaru, Ihiala, Other Oil Producing Council Area Anambra State House of Assembly, has summoned the oil and gas exploration companies operating in the state to appear before the House in plenary on Tuesday, 3rd September, 2024 at 12.00 noon to provide a comprehensive briefing on their general business activities within the state. The Speaker, Right Honourable Somtochukwu Udeze, issued the summon during plenary session following a...

Business News Nigeria Oil & GasNigeria Secures Stable Oil Production Level of 1.5 BPD Per Day Till 2025

By Ezinwanne Onwuka (Senior Reporter)June 3, 2024

The Organisation of the Petroleum Exporting Countries, OPEC, has granted Nigeria a reprieve on its oil production quota. At their recent ministerial meeting, OPEC announced the extension of Nigeria’s production allowance of 1.5 million barrels of crude oil per day (bpd) throughout 2025. This decision comes after OPEC increased Nigeria’s production limit to 1.5 million bpd for 2024 in November 2023. The extension signifies OPEC’s confidence in Nigeria’s production capacity and stability within the oil...

News Nigeria Oil & GasDangote Refinery Cuts Diesel, Jet Fuel Prices Again

By Ezinwanne Onwuka (Senior Reporter)April 24, 2024

In a move expected to bring relief to businesses and travellers, Dangote Petroleum Refinery has announced another significant reduction in the prices of diesel and aviation fuel. Effective immediately, diesel will be sold at N940 per litre, while aviation fuel will cost N980 per litre. This comes just two weeks after the refinery’s initial price reduction, which brought down the price of diesel from N1,650 to N1,200 per litre and a further reduction to N1,000...

News Nigeria Oil & GasSen. Ubah Leads Senate Adhoc Committee on Oversight Visit at Warri Refinery

Ebuka Onyekwelu (Staff Writer)April 19, 2024

The Senate Adhoc Committee Chairman on Turn Around Maintenance (TAM) of Nigerian Refineries, Sen. Ifeanyi Ubah, has led the Senate on an oversight visit to the Warri Refinery, Delta State. A few months ago, President Bola Tinubu announced his government’s plan to revive Nigeria’s refineries as part of efforts to make the country less dependent on imported petroleum products. During the visit on Thursday by the senate committee, they commenced the oversight with a courtesy...

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