The Founder of Dangote Group, Alhaji Aliko Dangote has revealed that both local and international criminal organisations, which he described as “mafia”, made repeated attempts to sabotage his $19bn refinery project located in Lagos. Speaking at the Afreximbank Annual Meetings, Dangote likened the oil cartels to a mafia stronger than the drug mafia hell-bent on maintaining their grip on the …

The Dangote Petroleum Refinery and Petrochemicals has announced that the supply date for Premium Motor Spirit (PMS) has been moved from June to mid-July. The President and chief executive officer (CEO) of the Refinery, Aliko Dangote, attributed the postponement to a slight delay but assured the public that by the second to third week of July, petrol from the Refinery …

NNPC Limited (NNPCL) has refuted media reports alleging that it inflated the ubsidy payments by N3.3 trillion. A report claimed that a forensic audit conducted by a global accounting firm, KPMG had uncovered a significant discrepancy in the fuel subsidy claims made by the national oil company. According to a report by iWitnessLive, the audit revealed that NNPCL inflated its …

As compressed natural gas (CNG) is set to become a permanent fixture in Nigeria’s energy landscape, the Programme Director and Chief Executive of the Presidential CNG Initiative (PCNGI), Michael Oluwagbemi, has said the government’s plan is to implement smart regulations that promotes growth and provides clear, predictable rules for safe investment. “We aim for a CNG sector with zero incidents …

The Association of Nigeria Refineries Petroleum Marketers has inaugurated taskforce to flush out bunkering, adulteration products, artificial scarcity and all forms of illegalities in the sector. Inaugurating the task force in Asaba, the Delta State capital, the Niger Delta Operations Controller, Dr Eldson Nwadiaro, said they had a mandate to flush out all forms of illegalities in the petroleum sector …

The Nigerian Content Development and Monitoring Board (NCDMB) plans to introduce some changes that will enhance the Nigerian Content Intervention (NCI) Fund and increase the fund’s impact and efficiency. The executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omotsola Ogbe hinted at the changes at the quarterly engagement forum held with the Bank of Industry …

The quest of Ogun State to be an oil-producing State would soon materialize as the Nigerian National Petroleum Corporation Limited (NNPCL), is set to begin oil and gas exploration in the Gateway State. Stakeholders in the oil industry, including the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, Managing Director, SHELL Petroleum Development Company Ltd, Mr. Osagie Okubor; Chief …

Troops of the Nigerian Army have intercepted and arrested eight members of a syndicate smuggling fuel from Nigeria to Ambazonian rebels in Cameroon to facilitate terrorist activities. A statement by the Nigerian Army on its official X handle said they were arrested during a sting operation yesterday along Abong-Kurmi Baissa Road in Taraba State at the border between Nigeria and …

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Monday, announced that about $16.6 billion investments had been committed to Nigeria’s oil and gas sector in the past one year. He spoke in Abuja while providing updates on achievements in the oil sector since President Bola Tinubu assumed office on 29 May 2023. On what was being …

The Federal Government, on Monday, urged the United Arab Emirates (UAE) to invest in the renewal and reconstruction of the more than 50-year-old oil pipelines in Nigeria, stressing that the facilities had outlived their lifespans. It also stated that Nigeria and the UAE were on the same page concerning oil exploration as crude oil drilling would not be abandoned despite …