Says even if Africa triples gas consumption, only 0.67% of global gas will be emitted African Development Bank President Akinwumi Adesina said on Thursday that gas remained critical for African economies despite the global push to end investments in fossil fuels as the world transitions to cleaner fuels. Speaking from the side-lines at the COP26 Read More…
ABUJA, Oct 10 (Reuters) – Nigerian petroleum tanker drivers have suspended a nationwide strike that was due to start on Monday to give negotiations a chance, their union said, after state-owned oil firm NNPC warned that the job boycott could disrupt fuel supplies. The National Union of Petroleum and Natural Gas Workers (NUPENG) had called the Read More…
Going by the directive by President Muhammadu Buhari to incorporate a Nigerian National Petroleum Company Limited, the implementation of the Petroleum Industry Act 2021 has begun. A statement from Aso Rock signed by Special Adviser on Media and Publicity, Femi Adesina, said that this was in consonance with Section 53(1) of the Petroleum Industry Act Read More…
The financing troubles of what may soon be Africa’s largest refinery have been taken to global oil big players for assistance. Reuters News Agency reports that Africa’s richest man Aliko Dangote is currently in talks with some of the world’s biggest oil traders to help finance his mega refinery project outside of Nigeria’s commercial centre Read More…
Dangote Refinery is adding 17,000 more jobs to its workforce over the next few months. This was revealed by the President/Chief Executive, Dangote Industries Ltd., Alhaji Aliko Dangote, in a statement signed by the Group Head, Corporate Communications, Dangote Group, Mr Anthony Chiejina, on Sunday in Lagos. According to the statement, the refinery intends to Read More…
A Reuters Agency survey has shown that the Organization of the Petroleum Exporting Countries (OPEC) recorded its highest oil output since April 2020 in August 2021. This is in spite of involuntary losses which limited the rise in oil production output following the easing of production limits by OPEC’s top producers which they had entered Read More…
The Minister of State for Niger Delta Affairs, Tayo Alasoadura has said that international oil companies operating in Nigeria owe $4 billion to the Niger Delta Development Commission (NDDC). NDDC is the agency responsible for fostering development in the Niger Delta, the impoverished wetlands region where much of the oil and gas industry is located. Read More…
Gunmen attacked a project site in Assa, Imo State on Monday, killing a police officer, six employees of an oil and gas services company, police have said. The oil and gas workers were employees of the Nigerian oil and gas services company, Lee Engineering. Monday’s latest attack marks a crescendo of attacks on oil and Read More…
In picture above: A worker walks past storage tanks at Dangote oil refinery in Ibeju Lekki district, on the outskirts of Lagos, Nigeria August 7, 2019. Picture taken August 7, 2019. REUTERS/Temilade Adelaja Four oil firms including Nigeria’s state-oil company have approached Dangote Industries to acquire a stake in Africa’s largest oil refinery, a senior Read More…
Nigeria’s governors have called for a full deregulation of the country’s downstream oil sector so that pump price floats with global oil prices, as the West African nation cannot sustain a subsidy regime to keep fuel price stable, they said. Kaduna state’s governor, Nasir el-Rufai, said at a meeting to discuss appropriate pricing for the Read More…