The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has pushed back against the fresh lawsuit filed by the Dangote Petroleum Refinery seeking to invalidate fuel import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). In a statement, the group argued that the licences being challenged were not mere administrative…
The Dangote Petroleum Refinery has taken the Federal Government to court over fresh fuel import licences issued to oil marketing companies in the country. Despite the refinery’s condemnation and rising domestic refining capacity, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, issued fresh fuel import licences to major petroleum marketers in 2026. Industry data…
The Nigerian National Petroleum Company (NNPC) Limited said it has signed a Memorandum of Understanding (MoU) with two Chinese entities, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd for collaboration through a potential Technical Equity Partnership (TEP) in support of the completion and operation of Port Harcourt and Warri…
Oil prices jumped to their highest level since 2022 after a report that the US military is set to brief President Donald Trump on new plans for potential action in the Iran war. Brent crude rose by almost 7% to more than $126 a barrel at one point, before falling back. US Central Command has…
Oil prices surged approximately three per cent to reach a two-week high on Monday, driven by stalled peace talks between the U.S. and Iran and ongoing restrictions on shipments through the Strait of Hormuz, which continue to tighten global oil supplies. Brent crude futures increased by $2.90, or 2.8per cent, closing at $108.23 per barrel….
Nigeria’s Dangote refinery, Africa’s largest, has increased exports of gasoline and urea to African countries hit by supply disruptions caused by the Iran war, its owner Aliko Dangote said on Monday. Dangote said the refinery, which is operating at its maximum capacity of 650,000 barrels a day, had helped cushion the full impact of the…
The Federal Government has halted the issuance of import licenses for gasoline, a major win for billionaire Aliko Dangote, who controls Africa’s largest refinery and has long called for the move. This decision is coming on the heels of data supplied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which stated that Dangote…
President Bola Tinubu has finally approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project. This presidential nod is coming after 18 years of deadlock. With the approval, the Bonga Southwest project becomes the first FID on a Nigeria deepwater Production Sharing…
Dangote Petroleum Refinery has announced a major reduction in the prices of Premium Motor Spirit (PMS), known as petrol and Automotive Gas Oil (AGO), also known as diesel. Under the new pricing regime, the gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre—a reduction of ₦100. The coastal price has also…
