Oil & Gas

Nigerian Refineries Spent N127Billion On Salaries, Employee Benefits In 2 Years Without Producing Oil Nigeria’s refinery woes persist, with the country’s facilities struggling to function optimally. A SaharaReporters investigation reveals that despite their inability to refine crude oil or generate revenue, these companies have spent billions on employee compensation. An analysis of the Nigeria National Petroleum Company’s audited financial statements shows that the Kaduna, Port Harcourt, and Warri refinery companies collectively expended N127.326 billion on salaries, wages, and employee benefits between 2020 and 2021. The amount was allocated for salaries and wages in September 2020, despite the fact that all…

President Tinubu Orders NNPC To Sell Crude Oil To Dangote Refinery In Naira. The President of the Federal Republic Of Nigeria Senator Ahmed Bola Tinubu has directed Nigerian National Petroleum Company Limited to sell crude oil to Dangote Refinery in Naira. The Special Adviser to the President on Information and Publicity, Bayo Onanuga, made this known in a post via his official X handle on Monday.

Dangote Refinery On Track For July Petrol Supply – Official The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has reiterated that the Dangote oil refinery will supply petrol in July as promised. Edwin said this when he took officials of the S&P Global on a tour of the facility over the weekend. According to Edwin, the company aims to catalyse a virtuous cycle of industrial development, job creation, and economic prosperity by harnessing Africa’s abundant crude oil resources to produce refined products locally. He also revealed that “as earlier promised, the company will start the…

NNPCL Declares State Of Emergency On Crude Oil Production .The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on crude oil production. According to NNPCL, it is a move towards increasing Nigeria’s crude oil production and growing its reserves. This was contained in a statement by the Chief Corporate Communications Officer of NNPCL, Olufemi O. Soneye, on Tuesday, July 2. The statement reads: “In a move towards increasing Nigeria’s crude oil production and growing its reserves, NNPC Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry. “Group Chief Executive Officer…

Dangote Refinery Reveals New Date To Kickstart Petrol Supply Dangote Petroleum Refinery and Petrochemicals in Lagos State has moved the supply date for Premium Motor Spirit (PMS) popularly known as petrol from June to mid-July. The President and Chief Executive Officer of the refinery, Aliko Dangote, attributed the postponement to slight delay but assured the public that by second to third week in July, the premium commodity would be in the market. Dangote spoke when he received a Senate delegation led by Senate President Godswill Akpabio, on a tour of the $20 billion facility in Lagos on Sunday. He said,…