Ghana could buy petroleum products from Nigeria’s Dangote Petroleum Refinery once the facility is operating at full capacity, cutting more expensive exports from Europe, the head of the country’s oil regulator said on Monday. At the Oil Trading and Logistics Africa Downstream oil conference in Lagos, the Chairman of Ghana’s National Petroleum Authority, Mustapha Abdul-Hamid said this could end monthly …

The Bayelsa State Government has resolved to sue international oil companies operating in the state over unmitigated oil pollution for over six decades. Governor Douye Diri disclosed this on Monday while addressing an expanded State Executive Council meeting to receive the final report of the Bayelsa State Oil and Environment Commission at Government House, Yenagoa. He stated, “After a review …

The Nigerian Army says it has arrested 35 suspected oil thieves accused of operating illegal refineries and breaking into pipelines to syphon crude oil across four Niger Delta states. The states are Akwa Ibom, Bayelsa, Delta and Rivers. Spokesman of the Nigerian Army 6 Division, Port Harcourt, Lt.-Col. Danjuma Danjuma, disclosed this in a statement on Sunday. He also stated …

The Federal Government’s recent decision to block Shell’s $2.4 billion divestment plan for its onshore assets has raised concerns among analysts, who warn that this could deter vital investment needed to bolster Nigeria’s crucial oil sector. The analysts speaking to Reuters on Wednesday highlighted that the government is sending mixed signals regarding its commitment to attracting investments, citing concerns about …

Controversy over the supply of petrol from Dangote Refinery to the Nigerian National Petroleum Company Limited (NNPCL) deepened yesterday. In a new twist, a document from the state oil company showed that the refinery has been unable to meet the supply request. According to the document, the NNPCL requested for 1.065 billion litres between 15 September and 20 October. But …

The Dangote Group has described the reported lawsuit against NNPC Limited (NNPCL) and other oil companies, seeking to revoke their import licenses, as “an old issue”. In a statement on Monday, the group’s Chief Branding and Communications Officer, Mr.  Anthony Chiejina clarified that the proceedings are currently on hold, with plans for a complete withdrawal by January 2025. Chiejina emphasised …

No fewer than four vessels carrying imported Premium Motor Spirit (PMS), popularly called petrol, arrived at seaports situated along the nation’s borders between Friday, 18 October, and Sunday, 20 October, according to The PUNCH findings. According to a document obtained from the Nigerian Port Authority (NPA) on Sunday, about 123.4 million litres of PMS were berthed at two seaports to …

The NNPC Limited Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has made a significant near-field oil discovery with the successful drilling of the Meji NW-1 well, located in Petroleum Mining Lease (PML) 49 within the shallow offshore area of the Western Niger Delta. The area, recently converted to the PIA 2021 terms, is a critical part of Nigeria’s energy production …

The Nigerian National Petroleum Company Limited (NNPCL) is still the sole off-taker of Premium Motor Spirit (PMS), popularly called petrol, from the Dangote Petroleum Refinery despite the recent directive of the Federal Government that other oil marketers were free to start loading PMS from the plant. Oil marketers revealed on Wednesday that NNPCL would continue to be sole off-taker of …

Wale Edun, minister of finance and coordinating minister of the economy, says the recent incentives in the oil and gas sector have attracted $3 billion in investments. Edun spoke during the Nigerian Economic Summit (NES) in Abuja on Tuesday. “The oil and gas sector has been revamped, with incentives yielding about $3 billion in investments. ExxonMobil has pledged $10 billion, …