Three oil companies—Matrix Petroleum Services Limited, A.A. Rano Limited, and AYM Shafa Limited have asked the Federal High Court in Abuja to prohibit the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) from reviewing or withdrawing their import licenses. They also asked the court not to block them from importing petrol in the interest of…
Dangote RefineryThe Ghana National Petroleum Authority (NPA) says it is considering buying petroleum products from the Dangote Petroleum Refinery once the facility is operating at full capacity. According to Reuters, Mustapha Abdul-Hamid, chairman of NPA, Ghana, spoke on Monday at the OTL Africa Downstream Oil Conference in Lagos. On September 3, Dangote refinery officially announced…
Africa’s richest man, Aliko Dangote has accused the Economic and Financial Crimes Commission operatives who visited his Lagos Head Office of attempting to embarrass the company during a raid some months ago. He stated this during an interview with Bloomberg and monitored on Tuesday. Dangote stated, “They visited the office but didn’t talk to anybody,…
Nigerian National Petroleum Company Limited (NNPCL) has officially released estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing. According to a statement signed by Olufemi Soneye, Chief Corporate Communications Officer, the NNPC said the prices are not set by Government, but negotiated directly between parties on an arms length in line…
The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than…
The Nigerian National Petroleum Company Limited (NNPCL) has successfully repaid 60% of a $1.036 billion loan that it took in September 2021 to finance the acquisition of a 20% stake in the Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise (DPRP FZE). As of December 31, 2023, NNPC has repaid $625 million of the principal…
Former President Olusegun Obasanjo has raised concerns about the challenges facing the $20 billion Dangote Refinery. The elder statesman attributed the problems to some cabals within Nigeria’s oil and gas sector. Obasanjo pointed out that these cabals are determined to hinder the refinery’s success to protect their profitable business of importing refined petrol. The former…
rica’s richest man, Aliko Dangote has announced that fuel from his $19 billion refinery complex will soon be available across Nigeria and the world. Dangote disclosed this in an interview with Bloomberg in Riyadh on the sidelines of the Saudi-Nigeria business roundtable. He further stated that the refinery’s delay in production to a desire to…
