The Dangote Petroleum Refinery is reducing its importation of crude from the United States (US), taking more of Nigeria’s oil for processing, a report by Bloomberg said. The report stated that the 650,000 refinery is set to import just over four-fifths of its feedstock from domestic sources in the third quarter. That compares with less than three-quarters in the prior …

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 other local refineries to mitigate the current crude …

Many tankers are currently at various depots in Lagos waiting to load Premium Motor Spirit (PMS), popularly called petrol, for onward delivery to states across the country as the scarcity of PMS worsens. It was gathered on Monday that though some of the trucks had started loading, the supply of the product by the Nigerian National Petroleum Company Limited (NNPCL) …

The Lagos State Traffic Management Authority (LASTMA) has warned motorists queuing for fuel at various filling stations to avoid traffic congestion that inconveniences other road users. The General Manager of LASTMA, Olalekan Bakare-Oki, gave the warning on Sunday as he deployed additional officers to monitor traffic around fuel stations across Lagos. This is according to a statement by LASTMA’s Director …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has warned filling stations against selling premium motor spirit (PMS), also known as petrol, to black marketers. In a post on X on Thursday, NMDPRA said failure to comply would result in suspension of licences. “NMDPRA embarks on a war against the illegal sale of petroleum products, especially PMS, in jerrycans. …

The National Assembly Special Committee on Crude Oil Theft has warned that the era of stealing the country’s crude oil is over as anybody found to be involved in the act will face the full wrath of the law. In a statement on Saturday. chairman of the special committee, Hon. Ado Doguwa said: “We can not in anyway afford to …

The speculated price attributed to the Independent Petroleum Marketers Association of Nigeria is predicated on the belief that the $20bn refinery would crash the price of petrol if it gets crude supply support from the Federal Government. Petrol currently sells at ₦700/litre at many independent marketers’ stations while the official price from the Nigerian National Petroleum Company Limited (NNPCL) is …

The Minister of Finance and the coordinating of the Economy, Wale Edun, has initiated a high-level stakeholder meeting to implement President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira. The meeting involving the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Group Chief Executive Officer of …

Contrary to projections last month by the President of Dangote Group, Alhaji Aliko Dangote that Dangote Refinery would begin the production of petrol between last Saturday and Monday (today), there are indications that that may not be. But multiple officials close to the development confirmed to The PUNCH on Sunday that all was set for the refinery to begin the production …

Nigerian businessman, Tony Elumelu, has said the government and security agents in Nigeria should be able to tell Nigerians who steal the country’s crude oil, especially using vessels that move through the territorial waters. Elumelu stated this in an interview published by the Financial Times on Friday. The businessman, who said he dreaded oil theft, said the menace contributed to …