In a recent press statement, the Dangote Group has firmly denied claims made by the Nigerian National Petroleum Company Limited (NNPCL) regarding the sale price of Premium Motor Spirit (PMS). The NNPCL spokesperson, Mr. Olufemi Soneye, alleged that Dangote sold PMS at an exorbitant rate of N898 per litre. This statement, according to Dangote Group, Read More…
The Nigerian National Petroleum Corporation (NNPC) Ltd announced on Tuesday the introduction of a new crude grade named Nembe as part of Nigeria’s efforts to increase crude oil production. Africa’s largest oil producer has been grappling with declining output due to issues like crude theft, pipeline attacks in the Niger Delta, and underinvestment, leading to Read More…
Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2%, to $87.50 a barrel by 0924 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.36, or 1.6%, Read More…