Oil mogul and billionaire businessman, Alhaji Aliko Dangote has opened up on his determination to see his $23 billion refinery succeed despite all odds. The 650,000 barrels per day capacity is Africa’s largest. According to the Kano-born richest black man on earth, ‘I’ve been fighting battles all my life and I have not lost one yet. ‘The oil mafia is …

BUA Group, a leading industrial conglomerate, has rejected reports claiming that its 200,000 barrels per day refinery in Akwa Ibom is 90% completed, clarifying that the construction is advancing according to schedule. In a statement issued on Sunday, the company emphasised that while the refinery is not yet at 90% completion, it remains firmly on track to meet its delivery …

The Arewa Economic Forum (AEF) has called for the establishment of a refinery at the Kolmani Oil Field in Bauchi State. Ibrahim Shehu Dandakata, Chairman of the AEF, made this announcement during a press conference in Abuja, emphasizing that the project is vital for the economic survival of Northerners, particularly in light of the current exorbitant fuel prices in the …

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 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 …

Nigerian company, Azikel Petroleum Refinery, a subsidiary of the Azikel Group, has received $259 million in debt funding from the African Export-Import Bank (Afreximbank) to build a refinery in the country. The deal was achieved at the Intra-African Trade Fair 2023, held between 9th and 15th 9 in Cairo, Egypt. It will expectedly create energy sufficiency for the development of …

The Nigerian National Petroleum Company Limited (NNPCL), on Friday, confirmed a fire outbreak at the Warri Refinery and Petrochemical Company Limited. It, however, stated that the fire was contained, adding that the incident would not affect the ongoing rehabilitation of the refinery. The national oil firm disclosed in a post on its official X (formerly Twitter) handle, captioned, ‘Minor fire …

The Major Oil Marketers Association of Nigeria (MOMAN) has said the price of petrol can’t go as low as N200 per litre, even if the refineries are revamped. The association noted this, following a report published recently, where the Independent Petroleum Marketers Association of Nigeria (IPMAN) said petrol price would crash below N200 per litre if the refineries became functional …

The House of Representatives Ad Hoc Committee on the State of Refineries in the Country has said that the Federal Government spent over N11 trillion on rehabilitating refineries from 2010 to date. The committee chairman, Hon. Ganiyu Johnson, however, failed to convince the Deputy Speaker, Hon. Ahmed Wase, who chaired the Committee of the Whole, to consider the report. Wase …

The Defence Headquarters has said that troops of Operation Delta Safe (OPDS) have destroyed 38 illegal refining sites and apprehended 29 suspected oil thieves in the last 2 weeks. The Director of Defence Media Operation, Major General Musa Danmadami said this on Thursday in Abuja at the bi-weekly news conference on the operations of the armed forces. Danmadami said the …