Deregulation not a license to blend off-spec products, jeopardise national interest, Dangote tells Pinnacle Oil
Post AMUGE
November 5, 2024
Bamidele Famoofo Dangote Petroleum Refinery and Petrochemicals has advised Pinnacle Oil and Gas Limited that deregulation should not be used as a justification for the importation of off-spec petroleum products or the undermining of Nigeria’s national interests. The refinery made this statement in response to remarks by Robert Dickerman, CEO of Pinnacle Oil and Gas […]
Oil rebounds on U.S Reserve bid sentiment boost
Post AMUGEOctober 29, 2024
Onome Amuge Oil prices regained some ground on Tuesday, posting considerable gains following Monday’s six percent slide, as the U.S. plan to boost the Strategic Petroleum Reserve (SPR) provided a brief respite from broader concerns about slowing demand growth. Brent crude futures rallied by 63 cents, or 0.88 percent, to reach $72.05 a barrel, while […]
Oando’s $783m NAOC acquisition accentuates growing Nigerian local exploration – AEC
Post AMUGEAugust 28, 2024
Ben Eguzozie The African Energy Chamber (AEC), the voice of energy sector on the continent, has described Oando, Nigerian energy company’s successful acquisition of 100 percent of the shareholding interest of Italian multinational Eni in the Nigerian Agip Oil Company (NAOC), as accentuating the growing role of Nigerian local exploration companies in revitalising the country […]
EIU says Dangote Refinery delay threatens Nigeria’s economy, naira stability
Post AMUGEAugust 19, 2024
Business a.m. The Economist Intelligence Unit (EIU), a London-based research and analysis organisation, has warned that any additional delays in the commencement of petrol production at the Dangote Refinery will have adverse effects on Nigeria’s economic prospects. This prediction is based on the EIU’s expertise in analysing economic trends and forecasting through its various services, […]
Dangote Refinery clears NNPC of involvement in alleged crude shortage
Post AMUGEAugust 9, 2024
Business a.m. Dangote Refinery has refuted recent media reports claiming that the refinery received 60 percent of the 50 million barrels of crude oil it obtained from the Nigerian National Petroleum Corporation (NNPC). Dangote Refinery, in a statement to clarify the report, asserted that the claims made by certain media outlets are unfounded and inaccurate. […]
Namibia Oil & Gas Conference unveils new opportunities for local, international investors
Post AMUGEAugust 7, 2024
Business a.m. Ejike Egbuagu, group chief executive officer, Moneda Invest Africa The Namibia Oil & Gas Conference (NOGC), an eagerly awaited event in the oil and gas industry calendar, will be returning to the capital city, Windhoek from August 20-22. Hosting distinguished industry leaders, the conference aims to serve as an essential platform for the […]
Nigeria’s oil sector requires change to stem investor flight – global experts
Post AMUGEAugust 5, 2024
Investor flight poses serious problem Côte d’Ivoire, Namibia, Congo, Angola attracting investments Deleterious regulatory environment, safety issues, vandalism chasing away investors Ben Eguzozie Experts knowledgeable in the global oil industry dynamics are advising Nigeria on the strategic and pragmatic measures it needs to adopt in order to stem the current divestment syndrome in its […]
Tinubu approves local currency crude oil sales to Dangote Refinery, local counterparts
Post AMUGEJuly 30, 2024
Business a.m. President Bola Tinubu has approved the sale of crude oil to indigenous refineries including Dangote Refinery in the nation’s local currency, the Naira. The crucial decision was revealed by Zacch Adedeji, the executive chairman of the Federal Inland Revenue Service (FIRS) and special adviser on revenue to the president, following the conclusion of […]
Dangote lauds NUPRC for publishing guidelines on domestic crude supply obligation
Post AMUGEJuly 17, 2024
…warns of rising local crude oil Prices as trading arms offer cargoes above official price Business a.m. Dangote Industries Limited (DIL) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its recent interventions in the company’s crude supply requests from International Oil Companies (IOCs). The Management of DIL also commended NUPRC for publishing […]
MOSOP, environmentalists welcome Tinubu’s appointment of new coordinator for HYPREP
BEN EGUZOZIEJuly 14, 2024
Ben Eguzozie The Movement for the Survival of Ogoni People (MOSOP), the main pressure group of the Ogonis, and other environmentalists have welcomed President Bola Tinubu’s appointment of Olufemi Adekanmbi as new coordinator of the Hydrocarbon Pollution Remediation Project (HYPREP), a body to supervise the clean-up and environmental remediation of Ogoniland and other oil-impacted […]