Oando Plc, run by Wale Tinubu, President Bola Tinubu’s nephew, has been shortlisted among the top three bidders to purchase Trinidad’s former national refinery. Oando Plc, according to Trinidad’s finance minister Colm Imbert, made it to the final selection stage, cutting down the initial ten bidders who showed interest in buying the Petrotrin refinery to three. Mr Imbert disclosed this …

The Azikel Petroleum Refinery is about five million litres of premium products daily project, which would address scarcity and ensure sufficiency, its President, Dr Azibapu Eruani said yesterday. The $850m investment, according to Eruani, upon completion would be the major internal revenue stream to the Bayelsa State government and Nigeria, he added. Eruani noted that the Azikel Refinery is 87 …

The President of Dangote Group, Alhaji Aliko Dangote, on Tuesday, said that the Dangote Refinery was constructed without any government incentives. Dangote made this known during his keynote address at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos. The Summit has the theme, ”Making Nigeria a Net Exporter of Petroleum Products”. Dangote, who was represented by …

The Federal Government has approved Dangote Refinery as the exclusive supplier of jet fuel for Nigeria’s airline operators. This was disclosed by the Minister of Aviation and Aerospace Development, Festus Keyamo, during an interview with Channels TV on Tuesday. Keyamo revealed that with his approval and backing, the airline operators agreed to designate the 650,000 barrels per day refinery as …

The Federal Government is set to deliver up to 400,000 barrels of Nigerian crude oil daily to the Dangote refinery under its naira-for-crude agreement, a report by Bloomberg stated on Monday. It said this significant development is expected to take place over the next two months, amounting to 24 million barrels of Nigerian supply between October and November 2024. This …

Oil marketers have said that the Nigerian National Petroleum Company Limited (NNPCL) portal used to purchase petrol has been shut against dealers, making it impossible for them to apply for the commodity purchase. They said marketers are still awaiting over 90 million litres of petrol from the state-owned company. This is valued at about N79 billion. Amid marketers’ complaints over …

To address ongoing fuel distribution issues and ease long queues at NNPCL Mega Stations, the Katsina State government has implemented a new regulation restricting fuel purchases to 50 litres per vehicle. This measure follows a meeting between the chairman of the committee on resource petroleum procurement and distribution, Muhammad Lawal Daura, and the NNPCL station managers. The initiative aims to …

The National Bureau of Statistics (NBS) has stated that Nigeria recorded a reduction in petrol importation following the removal of fuel subsidy by President Bola Tinubu in May 2023. It also said the total of fuel imports reduced to 20.30 billion litres in 2023 from the 23.54 billion litres recorded in 2022, showing a decrease of 13.77 per cent year-on-year. …

The Federal Government has released N122 billion to six gas infrastructure companies with the goal of transforming the midstream gas value chain across the country. The Minister of State Petroleum Resources (Gas), Hon. Ekperikpe Ekpo said this at the Midstream Downstream Gas Infrastructure Fund (MDGIF)/Promoters Agreement Signing Ceremony, in Abuja on Monday. The MDGIF entered into an agreement with Gas …

The Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency, on Sunday, confirmed that the supply of crude in Naira by NNPC Limited (NNPCL) to the Dangote Petroleum Refinery is to begin on Tuesday, 1 October 2024. The committee had announced two weeks ago that the Federal Executive Council (FEC) approved the sale of crude to local refineries …