The President of the Dangote Group, Alhaji Aliko Dangote, has said the Dangote refinery is not competing with the Nigerian National Petroleum Company Limited (NNPCL). According to a statement released by the NNPCL spokesperson, Olufemi Soneye, on Friday, Dangote stated this yesterday when he visited the new Group Chief Executive Officer of the NNPCL, Bayo Ojulari, in Abuja. The visit, …

The United Arab Emirates (UAE) has agreed to contribute to a huge gas pipeline project that will connect Nigeria to Morocco and eventually reach Europe. Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, told lawmakers on Tuesday that the UAE is now one of the supporters of the project, which is estimated to cost $25 billion. &As for …

The Petroleum Products Retail Owners Association of Nigeria (PETROAN), has urged President Bola Ahmed Tinubu to be cautious with its proposed implementation of the ban on foreign goods imports. This comes as PETROAN said the ban on foreign goods, which heralded the Nigeria First Policy, may lead to an increase in the prices of premium motor spirit and other imported …

The President of Dangote Group, Alhaji Aliko Dangote, says he is still fighting for the survival of his $20 billion refinery, stressing that the fight is not yet finished. Dangote expressed optimism that he would win the fight for the refinery, stating his determination to fight on. According to Semafor, an international news medium, Africa’s richest man spoke at an …

A former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has debunked widespread rumours alleging that he is in the custody of the Economic and Financial Crimes Commission (EFCC). He described the reports as ‘clear mischief’ and a ‘calculated attempt’ to discredit him. In a late-night Saturday statement posted on his X handle, Kyari …

Eight Organisation of the Petroleum Exporting Countries + (OPEC+) member countries, on Saturday, announced a sharp increase in oil production for the month of June, at the risk of driving down already very low prices. Saudi Arabia, along with Russia and six other members of the oil group, will implement a production adjustment of 411,000 barrels a day out of …

Nigerian National Petroleum Company Limited (NNPCL), has reduced its retail price of Premium Motor Spirit (PMS). DAILY POST observed on Saturday that NNPCL retail outlets along Kubwa Express Way, Zone 4 Abuja, and Gudu, all in the Federal Capital Territory, have adjusted their fuel pump price to N910 per litre from N935. This showed that the state-owned firm reviewed its …

A $3 billion refinery fraud has rocked Nigeria’s petroleum sector as authorities have traced N80 billion to the personal accounts of a recently sacked managing director of one of the country’s state-owned refineries. The revelation follows the arrest of the former managing directors and top executives of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining …

The House of Representatives Public Accounts Committee has directed OML18 Resources Limited, formerly known as Sahara Field Production Ltd., to remit $4,020,000 to the Federation Account within five days. The Committee issued the directive on Wednesday at its investigative hearing, as part of its ongoing probe into outstanding debts owed by oil companies to the Federation Account. The investigation, based …

The Head of Transparency International (TI) Nigeria and Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Comrade Auwal Musa Rafsanjani, has thrown his support behind calls for a full-scale investigation into the Nigerian National Petroleum Company Limited (NNPCL). Speaking to Channels Television on the sidelines of the Spring Meetings of the World Bank Group (WBG) and the International …