Africa’s richest man, Aliko Dangote, received a significant boost for his fertiliser plant today as Shell and its partners announced a final investment decision to build a dedicated gas supply facility. The $2.5 billion Dangote Fertiliser and Petrochemical Plant, the largest urea complex in Africa, will receive 100 million standard cubic feet of gas per Read More…
Oil & Gas
Shell’s exit sparks hope for Nigerian oil sector amid risks, analysts say
Shell’s recent departure from Nigeria’s onshore oil sector is seen as a pivotal moment, raising optimism among local firms to rejuvenate production in Africa’s largest oil exporter. Industry insiders and analysts emphasise the challenges faced by oil majors in the region but foresee opportunities for indigenous companies to reverse the output decline in the Niger Read More…
Nigeria’s NNPC to supply 4 crude cargoes to Dangote Refinery as operations near commencement
Nigeria’s NNPC, the state oil company, is anticipated to provide four crude shipments from its February schedule to the Dangote refinery, set to begin operations following extensive construction delays, disclosed three sources familiar with the situation to Reuters. The highly-anticipated Dangote refinery, touted as Africa’s largest, is on the verge of commencing test runs and Read More…
Dangote oil refinery prepares for test runs, aims for self-sufficiency and export
Nigeria’s Dangote oil refinery, funded by Aliko Dangote at a cost of $20 billion, is set to commence test runs potentially this week following the arrival of its sixth crude cargo on Monday, as disclosed by company officials. The refinery, with a capacity of 650,000 barrels per day (bpd), marks a significant milestone after enduring Read More…
NNPC to complete test runs at Port Harcourt refinery this month
Nigerian state-owned oil firm NNPC Ltd. has announced that it will complete test runs at the Port Harcourt refinery in the south this month, marking a major step towards resuming operations after five years of shutdown. According to NNPC spokesperson Femi Soneye, “Testing will conclude shortly, ensuring the refinery’s efficient operation. That phase will be Read More…
NNPC denies impending fuel price hike, urges public disregard for rumours
The Nigerian National Petroleum Company (NNPC) Ltd. has refuted claims of an imminent rise in the cost of Premium Motor Spirit (PMS), also known as petrol, urging citizens to dismiss unfounded speculations regarding a potential fuel price hike. Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., reaffirmed this stance in a statement Read More…
Seplat Energy reaches milestone in ANOH Gas Plant installation
Seplat Energy Plc announced the successful mechanical completion of its ANOH gas plant installation on December 29, 2023, aligning with the revised schedule, as shared by Mrs. Chioma Afe, Director of External Affairs & Social Performance at Seplat Energy. Afe highlighted the remarkable achievement, emphasising the safety focus that resulted in completing the installation without Read More…
Nigeria aims for substantial oil production surge by 2026
Nigeria’s upstream oil regulator unveiled a bold target of achieving a daily production of 2.6 million barrels of oil and condensates by 2026, marking a significant leap from the 1.6 million bpd output recorded in 2023. The country, a key oil exporter in Africa, has grappled with reduced production levels attributed to crude theft, pipeline Read More…
Nigerian crude oil exports dip, regulatory scrutiny affects exploration leases
Nigeria faces a slight decline in the export of its key crude oil grades in February, projected to average around 657,000 barrels per day (bpd), down from 792,000 bpd in January. This news surfaces amid concerns raised earlier in the month by Nigeria’s oil regulator, which is contemplating the revocation of dormant oil exploration leases Read More…
Electric vehicles surprisingly outpace oil demand reduction at COP28 Conference, reveals IEA
According to a report unveiled at the COP28 climate conference in Dubai by the International Energy Agency (IEA), the global drive toward electric vehicles (EVs) is markedly denting the demand for fossil fuels, despite concerns about the sluggish reduction in fossil fuel consumption to combat climate change. Industry experts note that soaring sales of EVs Read More…