Dangote Refinery commits to energy stability amid global refineries shutdown
Dangote Petroleum Refinery & Petrochemicals has reaffirmed its commitment to ensuring stable energy supply in Nigeria despite global refinery shutdowns and crude supply disruptions. The ongoing Middle East conflict and China’s ban on gasoline and diesel exports have caused shortages and rising crude prices worldwide. The company noted that Nigeria is insulated from these shocks […]
NUPRC seeks finance, investment from Bank of America to increase oil production
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has appealed to the Bank of America to increase funding support for Nigeria’s oil and gas sector. According to the agency, more financial investment is needed to grow crude oil production in the country. This appeal was made by the Commission’s Chief Executive, Gbenga Komolafe, during a courtesy […]
Investors’ confidence back in Nigeria’s oil sector – Lokpobiri on NUPRC regulatory feat
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that investor confidence has returned to the country’s oil and gas industry. This development, he noted, is largely due to the impressive regulatory achievements of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over the past four years. Lokpobiri made the remark during […]
BREAKING: Tinubu sacks NNPCL CEO, Mele Kyari, appoints Bayo Ojulari
President Bola Tinubu has made major changes in the leadership of the Nigerian National Petroleum Company Limited (NNPCL). He removed the Group CEO, Mele Kyari, and dissolved the company’s board, including Chairman Pius Akinyelure. This announcement was made by Bayo Onanuga, Tinubu’s Special Adviser on Information and Strategy, in a statement on Wednesday. Tinubu used […]
Reps reveal 48 oil firms are owing FG N2trn
The Nigerian House of Representatives has disclosed that 48 oil and gas companies owe the federal government about N2 trillion in unpaid royalties. This revelation came from an ongoing investigation by the Public Accounts Committee, which is examining financial records from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Out of these companies, seven major oil […]
Femi Falana Calls Out NNPCL for Illegal Petrol Price Fixing, Citing Violation of Petroleum Industry Act
In recent developments, prominent human rights lawyer, Femi Falana, has publicly criticized the Nigeria National Petroleum Company Limited (NNPCL) for fixing petrol prices, which he says is a violation of the Petroleum Industry Act (PIA). Falana’s critique has sparked significant debate, particularly given the rising fuel prices that have unsettled Nigerians in recent months. At […]
Dangote Officials and Refiners Challenge Marketers Over Imported Petrol
The ongoing tension between domestic oil refiners and major oil marketers in Nigeria has reached a new level, with Dangote Refinery officials strongly criticizing the importation of low-quality Premium Motor Spirit (PMS), also known as petrol. This comes after the commencement of large-scale fuel imports by some oil marketers, despite the availability of locally refined […]
NNPCL Has No Right to Set Dangote Petrol Prices – Falana
Femi Falana, a respected human rights lawyer, has raised concerns over the Nigerian National Petroleum Company Limited (NNPCL) fixing the price of petrol produced at the Dangote Refinery. He claims that this action is illegal and goes against the regulations of the Petroleum Industry Act (PIA). Falana pointed out that Section 205 of the PIA […]
Dangote Refinery Yet to Receive 29m Barrels Crude Allocation, Counters NUPRC Claim
The ongoing challenges in Nigeria’s oil and gas industry continue as Dangote Refinery has announced that it has not yet received the 26 million barrels of crude oil allocation that was reportedly facilitated by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a recent statement, Dangote Group’s spokesperson, Anthony Chiejina, responded to NUPRC’s claims that […]
Nigeria to Ensure Steady Crude Oil Supply to Local Refineries
The Nigerian government and oil producers have agreed to ensure a steady supply of crude oil to local refineries at market-driven prices. This decision aims to optimize business for operators while guaranteeing enough crude oil for refineries, following concerns raised by Dangote Petroleum Refinery about possible sabotage. The agreement, made during a meeting organized by […]