In order to drive and grow sustainable investments in Nigeria’s upstream sector and return value to all stakeholders, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday met in Lagos with members of the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers of Group (IPPG) to fine-tune strategies for 2024 and beyond. NUPRC’s Chief Executive, Engr. Gbenga Komolafe, who …

Investors in the Dangote Group shares on Tuesday gained N514 billion following an announcement that the Dangote Refinery had commenced production. Investors have rushed to Nigerian Exchange Limited to purchase stocks by Dangote Group, an entity that is sensitive to information. Subsequently, three subsidiaries of Dangote Group listed on the NGX saw their combined market capitalisation rise by N513.69 billion …

At least 83 illegal refineries were uncovered in the last week in the Niger Delta, according to NNPC Limited (NNPCL). The company said on its X handle on Tuesday that 15 illegal pipeline connections were also discovered within the same period. “In the past week, 15 illegal pipeline connections and 83 illegal refineries have been uncovered in the Niger Delta”, …

NNPC Limited (NNPCL) said on Monday that it is seeking private companies that would operate and maintain its Port Harcourt refinery in Rivers State. On 21st December, the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri announced the “mechanical completion” and the “flare start-off” of the refinery. He said the first phase of the plant had been completed, as the facility …

President of the Dangote Group, Alhaji Aliko Dangote has expressed appreciation to President Bola Tinubu for his vision and support which he said encouraged him to embark on the Dangote Refinery project some years back. The refinery formally took off on Friday with the production of diesel and aviation fuel. Speaking with stakeholders in the oil and gas industry on …

A socioeconomic organisation in the Niger Delta region, the Anti-Pipeline Vandalisation/Oil Theft and Illegal Bunkering Task Force Group has faulted a call on the Federal Government to cancel the crude oil pipeline surveillance contract being handled by Pipeline Infrastructure Nigeria Limited (PINL). The push is being made by a body which identified itself as the National Awareness Forum (NAF). Rising …

Dangote, the largest single-train refinery in the world located in Nigeria’s commercial hub, began operations in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery this week. It had earlier also received other batches. Although it was supposed to begin operations in June 2023, the oil refinery built by Aliko …

In a bid to arrest the daunting challenge of oil theft in Nigeria’s petroleum sector, which has plagued the nation’s oil and gas industry, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe has sought an enhanced collaboration with the Police. Komolafe emphasised the urgent need for a united front against the escalating challenges posed by …

The Dangote Petroleum Refinery, on Monday, announced its readiness to commence production of refined petroleum products as it received the 6th batch of one million barrels of crude oil required by the plant for its initial operations. In a statement on Monday, the firm said, “Dangote refinery appears set to commence production of refined petroleum products with the receipt of …

A new report has revealed vast differences in gasoline costs across the world, with Nigeria ranked 22nd in the cheapest petrol price category globally. The report titled ‘Global Petrol Prices, Octane-95, January 1, 2024’, as posted on their website, also revealed some countries paying over 100 times more for petrol. “The average price of gasoline around the world is 1.29 …