Oil, Gas and Energy

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has projected that Nigeria could achieve full petroleum export status within two years, following the licensing of 83 refineries by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The NMDPRA has issued…

For the second time in the month of April, Dangote Petroleum Refinery and Petrochemicals has again reviewed its ex-depot (gantry) loading cost of petrol to ₦835 per litre. The $20bn Lagos-based refinery informed its marketers and customers of the slash on Wednesday. An official…

The Federal Government has signed a $328.8 million contract with Chinese firm, China Machinery Engineering Corporation (CMEC), to rehabilitate and expand Nigeria’s electricity transmission network under Phase 1 of the Presidential Power Initiative (PPI). The agreement covers Engineering, Procurement, Construction, and Financing (EPC+F)…

Dangote Petroleum Refinery and Petrochemicals has reviewed its ex-depot (gantry) loading cost of petrol to ₦867 per litre. It was gathered that the $20bn refinery informed its marketers and customers of the slash on Thursday. An official of the refinery confirmed the price reduction…

The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday said a minor fire incident recorded at the Port Harcourt Refining Company (PHRC) was immediately put out. NNPCL spokesman Olufemi Soneye, in a statement, said reports of an explosion rocking the refinery was false. He…

Nigerians may experience an increase in the prices of premium energy products diesel and petrol as the Dangote Petroleum Refinery temporarily halts the sale of petroleum products in Naira. “This decision is necessary to avoid a mismatch between our sales proceeds and our…

Chevron has bought about 4.99% of Hess Corp’s common shares this year. Chevron purchased 15,380,000 Hess shares between January and March, worth about $2.3 billion based on Hess’ closing share price of $150.45 on Monday. In a filing on Monday, the oil and gas…

Renaissance Africa Energy has completed the “acquisition of the entire (100%)” equity holding in Shell Petroleum Development Company of Nigeria (SPDC). This is according to a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings Tony Okonedo who said the acquisition…

The Nigerian National Petroleum Company Limited (NNPCL) has called on global investors to direct their attention to the Nigerian oil and gas sector as the nation is now an investors’ haven owing to the robust regulatory reforms and investment-friendly policies. NNPCL Executive Vice…