Oil and gas
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Good afternoon from MEZIESBLOG! Here is today’s summary from Nigerian newspapers: 1. Reports have emerged that more than 200 suspects who were linked with terrorism activities in different parts of the country have been convicted by the Federal High Courts, FHC, in the country after they were found guilty of the offences. Some of the suspects,…
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Grenada is set to become a major energy hub as Nigerian oil and gas company, Oceangate Oil and Gas Engineering, has secured a historic multi-billion dollar deal with Global Petroleum Group, to launch one of the Caribbean’s largest oil and gas ventures. A statement by the Group CEO, Dr Aisha Achimugu, made available to PUNCH Online…
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The 2023 Labour Party, LP, presidential candidate, Peter Obi, on Saturday, charged President Bola Tinubu to reverse the sudden hike in the pump price of fuel. Obi described the sudden price hike by the Nigerian National Petroleum Company Limited, NNPCL, as insensitive and unfortunate. Posting on X, Obi said the sudden hike in the pump…
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The U.S. state of California filed a lawsuit against oil and gas giant ExxonMobil on Monday, accusing the company of conducting a “decades-long campaign of deception” regarding plastic recycling. The state’s Department of Justice claimed ExxonMobil had been deceiving Californians for half a century through misleading public statements and marketing campaigns. These efforts allegedly promised…
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On Monday, the Speaker of the House of Representatives, Abbas Tajudeen, sacked a powerful ad hoc committee probing NNPC Limited after weeks of infighting among members. In the past couple of weeks, the House had been divided between lawmakers supporting the Group Managing Director of NNPC Limited, Mele Kyari, and the anti-Kyari team, forcing the…
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Former President Olusegun Obasanjo has said that those benefiting from fuel importation will do all in their power to frustrate the Dangote Petroleum Refinery. In an interview with Financial Times, the former President described the Dangote refinery as a project that should encourage both Nigerians and non-Nigerians. “Aliko’s investment in a refinery, if it goes…
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Foremost politician Rabiu Kwankwaso on Wednesday charged the Nigerian government not to allow the Dangote refinery to fail. Kwankwaso said creating unnecessary fuss around the integrity of Dangote’s refinery by some government officials was unfortunate. Founder of the refinery, Aliko Dangote had accused the Nigerian National Petroleum Company Limited of allegedly frustrating the functionality of…
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The Nigerian National Petroleum Company Limited, NNPCL, said fuel stations are to operate longer hours for supply and distribution of the Premium Motor Spirit, PMS, also known as petrol. It called on fuel stations to aid availability of the product in view of the current tight situation. The NNPCL said the turnaround period of PMS…
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Jordan’s Ministry of Energy and Mineral Resources said on Sunday that it has sent a letter to Iraq’s Ministry of Oil demanding the extension of an oil supply deal, under which Jordan imports around 10,000 barrels of oil daily from Iraq. Iman Awad, director of Oil and Natural Gas at Jordan’s ministry, said Jordan requested…
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The Management of the Nigerian National Petroleum Company Limited (NNPCL) says the rehabilitation of the Kaduna Refining and Petrochemicals Company (KRPC) will be completed by the end of 2024 after years of being shut down due to lack of maintenance. The Managing Director of KRPC, Mustafa Sugungun, disclosed this on Monday during an oversight visit…
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Checks by the Nigerian Tribune has revealed that no single Nigerian shipping company participated in the six crude oil delivery process that took place at the $19.5bn Dangote Petro-chemicals Refinery located in Lagos. This is even as further findings revealed that Nigeria lost out due to the very large sizes of ships used in the delivery…
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United Bank for Africa Plc (UBA) and the African Export-Import Bank (Afreximbank) have announced an initial disbursement of $2.25 billion under a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPCL). A second tranche of $1.05 million is expected to be disbursed subsequently. This is the largest syndicated loan ever raised…
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Dangote Petroleum Refinery, with 650,000 barrels per day, has commenced the production of refined petroleum products. The refinery received the fifth crude oil shipment of one million barrels of Bonny Light supplied by the Nigerian National Petroleum Corporation Limited last week. The 650,000 barrels per day oil processing facility started operations in May 2023. It…
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As the federal government under President Bola Ahmed Tinubu brace up to achieve the December deadline to get its refineries working, data from the World Energy 2023 report showed that the country’s crude oil refining output dropped by 92 per cent in 10 years. The report showed that output from the nation’s four refineries fell…
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Aliko Dangote has said that the Dangote Refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process petrol soon. Dangote said this in an interview on Saturday in Riyadh on the sidelines of the Saudi-Nigeria business roundtable. “We don’t want to start our refinery…
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Oil marketers will soon resume importation of Premium Motor Spirit (PMS), popularly known as petrol into Nigeria as the Federal government moves to end the Nigerian National Petroleum Company Limited (NNPCL)’s monopoly of importation. This sequel to a meeting the marketers: Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Major Marketers Association of…
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