The management of Dangote Petroleum Refinery and Petrochemicals (DPRP) has expressed concern over the continued issuance of petroleum product import licences despite the refinery’s proven capacity to meet and exceed Nigeria’s domestic Premium Motor Spirit (PMS) requirements. The refinery, in a statement, noted that while it remains fully committed to supporting the country’s energy security…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has accused wholesalers and retailers of charging non-cost reflective prices, pushing liquefied petroleum gas (LPG) prices as high as N2,100 per kilogram despite significantly lower indicative prices issued by the regulator. The authority disclosed this in a presentation delivered by its Chief Executive Officer (CEO) Rabiu…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the 2026 Licensing Round will commence in the third quarter (Q3) of the year. This is consequent on the granting of approval by the Minister of Petroleum Resources in line with the Petroleum Industry Act (PIA) 2021. The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, stated this…
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…
