Oil & Gas

Nov
14
2024
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By Abia ThinkTank
NNPC Sack Top Officials, Names Replacements In A Major Shake-Up

NNPC Sack Top Officials, Names Replacements In A Major Shake-Up

Business, News Flash, Oil & Gas
NNPC Sacks Top Official, Names Replacement In A Major Shake-up The Nigerian National Petroleum Corporation (NNPC) has announced the removal of Umar Ajiya as the Chief Financial Officer (CFO) and the appointment of Mr. Adedapo A. Segun as his replacement. This was disclosed in a statement released on Wednesday by the company’s spokesperson, Olufemi Soneye, via NNPC’s official X (formerly Twitter) handle. In addition to this change, the company also appointed Isiyaku Abdullahi as the Executive Vice President (EVP) of Downstream Operations. Furthermore, Udobong Ntia has been named the Executive Vice President (EVP) of Upstream Operations, completing a significant reshuffle…
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Oct
30
2024
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By Abia ThinkTank
Ghana Proposes To Import Petroleum From Dangote Refinery – Official

Ghana Proposes To Import Petroleum From Dangote Refinery – Official

Economy, News Flash, Oil & Gas
Ghana To Import Petroleum From Dangote Refinery – Official The National Petroleum Authority of Ghana says it is proposing to import refined petroleum products from Dangote Refinery to boost its energy security and sustain business cooperation with neighbours. Mustapha Abdul-Hamid, chief executive officer, NPAG, said this at the 2024 OTL Africa Downstream Energy Week on Tuesday in Lagos. Speaking as one of the panellists, Abdul-Hamid said that the move was aimed at strengthening Ghana’s energy security and to deepen regional economic cooperation. The 2024 OTL, 18th edition, has the theme ‘Alliances for Growth’. According to Mr Abdul-Hamid, Ghana is seeking…
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Oct
30
2024
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By Abia ThinkTank
Fuel Supply Set To Increase As FGN Grants Licenses For Companies To Operate Refineries In Nigeria

Fuel Supply Set To Increase As FGN Grants Licenses For Companies To Operate Refineries In Nigeria

Economy, FGN, News Flash, Oil & Gas
Fuel Supply To Increase As FG Grants Licenses For Companies To Operate Refineries In Nigeria Nigeria’s fuel supply is set to increase as the Federal Government, through the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) has granted licenses to nine modular refineries, seven construction licenses, and four operational licenses. The development was announced by Farouk Ahmed, CEO of NMDPRA, at the 2024 Oil Trading & Logistics Africa Downstream Energy Week in Lagos on Monday. According to Ahmed, under President Bola Tinubu’s administration, Nigeria’s refining capacity has been expanding, particularly with the commencement of production by Dangote Refinery. “Over the course…
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Oct
23
2024
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By Abia ThinkTank
Gov. Otti Assures Of ABIA State Government Support To The Joint Monitoring Team On Crude Oil Production Boost.

Gov. Otti Assures Of ABIA State Government Support To The Joint Monitoring Team On Crude Oil Production Boost.

Abia State, Economy, News Flash, Oil & Gas, Security
GOV. OTTI ASSURES OF ABIA STATE GOVERNMENT SUPPORT TO THE JOINT MONITORING TEAM ON CRUDE OIL PRODUCTION BOOST. Abia State Governor Dr. Alex Otti, OFR, has assured of the Abia State Government’s support to tackle the issues causing the drop in crude oil production in Nigeria. Governor Otti gave the assurance on Tuesday, 22nd October, in his Umuehim Nvosi Country home, when he received in audience a delegation of the Defence Headquarters Joint Monitoring Team, led by Major Gen. JAL Jimoh, who paid him a working visit. Governor Otti who decried the drastic drop in crude oil production in Nigeria,…
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Oct
23
2024
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By Abia ThinkTank
Nigerians Now Have A Choice To Buy Petrol At N1,000 Per Litre Or CNG For N200 – President Tinubu

Nigerians Now Have A Choice To Buy Petrol At N1,000 Per Litre Or CNG For N200 – President Tinubu

FGN, News Flash, Oil & Gas, Presidency
Buy Petrol At N1,000 Per Litre Or CNG For N200 – Tinubu Tells Nigerians President Bola Tinubu says Nigerians can buy premium motor spirit (PMS), also known as petrol, at N1,000 per litre or compressed natural gas (CNG) at N200 per standard cubic meter. In a statement by Bayo Onanuga, special adviser to the president, Tinubu spoke during a meeting with the Nigerian Independent Petroleum Company (NIPCO) on Tuesday at the State House in Abuja. While commending NIPCO’s contributions to the nation’s energy transition efforts, particularly its support for the presidential compressed natural gas initiative (PCNGI), Tinubu said CNG saves…
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Oct
22
2024
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By Abia ThinkTank
Dangote Refinery Asks Court To Annul Import Licenses Of NNPCL, Others In N100bn Lawsuit

Dangote Refinery Asks Court To Annul Import Licenses Of NNPCL, Others In N100bn Lawsuit

Business, Judiciary, News Flash, Oil & Gas
Dangote Refinery Asks Court To Void Import Licences Of NNPCL, Others In ₦100bn Suit Dangote Petroleum Refinery and Petrochemicals has filed a lawsuit at the Federal High Court in Abuja requesting the annulment of import licenses granted to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, AA Rano Limited, and four other companies. The case centred on the importation of refined petroleum products that Dangote Refinery claimed were already being produced domestically without shortages. In the suit, Dangote Refinery is also demanding ₦100bn in damages from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The refinery…
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Oct
09
2024
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By Abia ThinkTank
NNPCL Increases Fuel Price To N1,030 Per Litre In Abuja, N998 In Lagos

NNPCL Increases Fuel Price To N1,030 Per Litre In Abuja, N998 In Lagos

Economy, News Flash, Oil & Gas
NNPCL Increases Fuel Price To N1,030 Per Litre In Abuja, N998 In Lagos Filling stations belonging to the Nigerian National Petroleum Corporation Limited (NNPCL) have increased the pump price of fuel. The product which previously sold for N897 in Abuja, the nation’s capital, currently sells for N1,030. Daily Trust correspondent who visited an NNPC outlet in Maitama observed how motorists queued up to purchase the product amid complaints. At another NNPC station in Gudu, still in Abuja, motorists queued up while waiting for attendants to commence sale. When our reporter asked an attendant if the station was out of stock,…
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Oct
05
2024
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By Abia ThinkTank
Crude-For-Loans: NNPC Votes 8Million Barrels Monthly For $8.8 Billion Debt – Report

Crude-For-Loans: NNPC Votes 8Million Barrels Monthly For $8.8 Billion Debt – Report

Economy, News Flash, Oil & Gas
Crude-For-Loans: NNPCL Votes 8Million Barrels Monthly For $8.8 Billion Debt – Report The Nigerian National Petroleum Company Limited (NNPCL) has pledged 272,500 barrels per day of crude oil through a series of crude-for-loan deals totalling $8.86bn. By pledging 272,500 barrels daily, it means that about 8.17 million barrels of crude will be used for different loan deals by the national oil firm on a monthly basis. This is according to an analysis of a report by the Nigeria Extractive Industries Transparency Initiative and the NNPC’s financial statements. Under these deals, notable projects include Project Panther, Project Bison, Project Eagle Export…
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Sep
18
2024
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By Abia ThinkTank
NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume

NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume

Business, Economy, News Flash, Oil & Gas
NNPCL/Dangote: Fresh Dispute Emerges Over Supply Volume More controversy has emerged in the execution of a sale-purchase deal on premium motor spirit, otherwise known as petrol, between the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery. Findings by Vanguard yesterday indicated that while the NNPCL believes Dangote cannot supply an adequate quantity of the product, Dangote told Vanguard it had already delivered 111 million litres of the product within three days (last Sunday to yesterday), adding that loading was still ongoing steadily.NNPCL last weekend said Dangote could only deliver 16.8 million litres out of the 25 million litres it…
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Sep
17
2024
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By Abia ThinkTank
IPMAN Laments Selling Of Dangote Petrol Higher Than Imported Fuel

IPMAN Laments Selling Of Dangote Petrol Higher Than Imported Fuel

Business, Columns/Opinions/Letters, News Flash, Oil & Gas
IPMAN Decries Selling Of Dangote Petrol Higher Than Imported Fuel The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns over the pricing of petrol from the Dangote Refinery, urging the Nigerian National Petroleum Company Limited to ensure it is not sold at a higher price than imported fuel. IPMAN argues that such a disparity would be counterproductive to the nation’s drive for energy self-sufficiency and could negatively impact consumers and marketers alike. According to IPMAN on Monday, the pricing strategy for locally refined petrol should reflect the advantages of domestic production, offering Nigerians a more affordable option. The…
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