OIL & GAS

The Nigerian National Petroleum Company Limited said yesterday that it has in the past week uncovered no fewer than 83 illegal refineries in the Niger Delta. The company, which disclosed this on its X handle (otherwise known as Twitter), said 15 illegal pipeline…

Shell Plc has agreed to sell its Nigerian onshore oil and gas subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium of five companies known as Renaissance for a total of $2.4 billion, marking the end of Shell’s nearly…

The Nigerian National Petroleum Company (NNPC) Limited is in the process of handing over the operations of the Port Harcourt oil refinery to private entities. Minister of State for Petroleum Resources, Heineken Lokpobiri, had announced the mechanical completion of the refinery last…

The Dangote Refinery has started production. The largest single-train refinery in the world located in Nigeria’s commercial hub began operations in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery. Although it was supposed…

THERE are indications that the $19 billion Dangote Refinery will soon commence refining after getting one million barrels of crude oil. The statement released by Dangote  yesterday, revealed that the 6th one million Agbami crude oil was delivered via MT ALMI SUN, thus enabling the…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigeria National Petroleum Company Limited (NNPCL) have warned Nigerians against panic-buying and dismissing reports of a planned hike in the pump price of petrol also called Premium Motor Spirit (PMS). According to reports, fuel…

Dangote Refinery has received its fourth shipment of one million barrels of bonny light crude supplied by the Nigeria National Petroleum Company (NNPC) Limited. In a statement released on Sunday, Dangote Oil Refining Company expressed expectations of receiving the fifth shipment soon. “The preparations for…

Crude prices slumped on Thursday after Angola quit the OPEC oil cartel, while Wall Street stocks rebounded after a streak of records was snapped. The price of the main international and US crude contracts dropped more than 1.5 percent after Angola said it was…

The Port Harcourt Refining Company in Rivers State has recommenced operation in line with the Federal Government’s promise to ensure the production of refined products at the facility in December 2023. The development is coming after many years of underperformance and turnaround maintenance…