The Dangote Petroleum Refinery & Petrochemicals has slashed the ex-gantry price of Premium Motor Spirit (petrol) to N1,200 per litre, reversing its earlier increase amid a sharp drop in global crude oil prices triggered by geopolitical developments. The latest adjustment represents a N75 reduction from the previous price of about N1,275 pe...
Oil prices soared and stocks fell in Asia today after US-Israeli strikes on Iran sent investors fleeing the prospect of an extended conflict in the crude-rich Middle East. Brent briefly spiked almost 14 percent and West Texas Intermediate nearly 12 percent at the start of business after the attack on the Islamic republic, which killed [&hellip...
The Chairman of the OPEC Board of Governors for 2025 has called on Nigerian oil producers to prioritise domestic refining and value creation instead of exporting raw crude. Speaking yesterday at the Nigerian Association of Petroleum Explorationists Pre-Conference Workshop in Lagos, Adeyemi-Bero, who is also the Chief Executive Officer of First...
The federal government has disclosed that a total of 67,657,559 barrels of crude oil were supplied to local refiners for processing between January and August 2025. This figure, confirmed by the Nigerian Upstream Petroleum Regulatory Commission, highlights ongoing challenges in bridging the crude allocation gap facing indigenous refineries des...
•Dangote Refinery The Nigerian National Petroleum Company Limited (NNPCL) says it has supplied 30 million barrels of crude to the Dangote refinery so far. The Executive Vice President of NNPCL Downstream, Adedapo Segun, who disclosed this today on Arise Television, said plans were underway to supply an additional 17 million barrels to the refi...
•Fuel depot An energy expert Omonigho Otanocha has urged the government and importers of petroleum products to convert their depots to crude storage facilities now that the Nigerian National Petroleum Company Limited (NNPCL) has stopped the importation of products, with the rollout of products from the Dangote Refinery. Otanocha, the Chief Exe...
•Dangote refinery Oil producers, under the aegis of the Independent Petroleum Producers Group, have warned against being forced to sell crude oil to the Dangote Refinery and other local ones in Nigeria. The IPPG also called on the Nigerian National Petroleum Company Limited to re-direct its allocated crude oil volumes to Dangote Refinery and o...
Dangote Refinery Limited has clarified its position on the supply of crude oil to its refinery by the Nigerian National Petroleum Company Limited, NNPCL, stating that it never accused the NNPCL of not supplying crude to its refinery. The firm made the clarification yesterday in a statement signed by Anthony Chiejina, the Dangote Group’s Chief,...
•Tinubu and Dangote President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries 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 today. Onanuga stated that the move...
•Dangote The Dangote Industries Limited (DIL) said local petrol prices will continue to increase as trading arms offer cargoes at $2-$4 per barrel above the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) official price. Vice President of Oil & Gas, Dangote Industries Limited, Mr DVG Edwin stated this while responding to a stateme...
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