Oil & Gas

Apr
17
2024
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By Abia ThinkTank
Dangote Crashes Diesel To N1,000 Per Litre

Dangote Crashes Diesel To N1,000 Per Litre

Economy, News Flash, Oil & Gas
Dangote Crashes Diesel To N1,000 Per Litre The $20 billion Dangote Petroleum Refinery has slashed the price of diesel by 16.6 per cent to N1,000 per litre, from N1, 200 per litre in order to assist in impacting Nigeria’s domestic economy. The price of diesel was relatively high for months, due mainly to the importation of the product from the global market and foreign exchange crisis associated with it. But in a statement obtained by Vanguard today, the company, stated: “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to…
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Apr
16
2024
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By Abia ThinkTank
FG Releases New Rules To Compel Oil Producers To Sell Crude Oil To Domestic Refineries

FG Releases New Rules To Compel Oil Producers To Sell Crude Oil To Domestic Refineries

Economy, FGN, News Flash, Oil & Gas
FG Releases New Rules To Compel Oil Producers To Sell Crude Oil To Domestic Refineries The federal government through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has introduced new regulations requiring its oil producers to sell crude oil to local refineries in a move to reduce the country’s dependence on imported refined products. The new regulations mandate that all oil companies in Nigeria must supply crude to domestic refineries that are unable to procure it locally. Only after fulfilling these domestic supply commitments are producers permitted to export crude. The NUPRC will serve as a middleman between local refiners and…
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Apr
09
2024
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By Abia ThinkTank
Oil Marketers Propose N550/Litre Price To Dangote

Oil Marketers Propose N550/Litre Price To Dangote

Business, Economy, News Flash, Oil & Gas
Oil Marketers Propose N550/litre Price To Dangote As the Nigerian National Petroleum Company, NNPC Limited, moves to end petrol scarcity in Lagos and its environs, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations Nationwide Dangote Refinery, which can refine 650,000 barrels per day, bpd of crude oil, intends to commence production and distribution of the product, the bulk of which is currently imported from the global market, in May 2024. Checks by Vanguard, weekend, indicated that the parties have been meeting and exchanging notes on the pricing,…
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Apr
04
2024
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By Abia ThinkTank
Edo Refinery Received 15,000 Barrels Of Crude From Oza Oil

Edo Refinery Received 15,000 Barrels Of Crude From Oza Oil

Business, Economy, News Flash, Oil & Gas
Edo Refinery Receives 15,000 Barrels Of Crude From Oza Oil The Edo Refinery has received a total of 15,000 barrels of crude oil in 2024 for production from the Oza Oil Field operated by Decklar Resources Inc. and Millenium Oil and Gas Company Limited. The Chief Executive Officer of Decklar Resources, Sanmi Famuyide, who disclosed this in a statement on Wednesday, noted that the company has continued ongoing crude oil injection volumes into the Trans Niger Pipeline for transport to and export from the Bonny Export Terminal. The refinery was developed by the Edo Refinery and Petrochemical Company Limited and…
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