Eni has received formal consent from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the sale of NAOC Ltd to Oando Plc.
As Dangote’s refinery struggles to secure domestic crude, allegations of price gouging and supply obstruction by international oil companies raise questions about Nigeria’s oil market.
Africa’s largest refinery, the Dangote facility in Nigeria, is actively seeking crude oil supplies from Libya and Angola. This move comes as the refinery faces difficulties obtaining adequate domestic crude due to theft, pipeline vandalism, and low investment in Nigeria’s oil sector.
Once seen as a potential solution to Nigeria’s reliance on fuel imports, the refinery’s development has been plagued by uncertainty, leading to questions about its ability to meet the country’s energy needs.
TotalEnergies has sold its minority share in a major Nigerian onshore oil joint venture to Mauritius-based Chappal Energies for $860 million, the French energy group said on Wednesday.
The Dangote Refinery said it is seeking crude oil import from Libya and Angola amid a supply challenge in Nigeria.
TotalEnergies has sold its minority share in a major Nigerian onshore oil joint venture to Mauritius-based Chappal Energies for $860 million, the French energy group said on Wednesday.
Nigeria plans to resume local refining of crude oil in early August, national petroleum authorities announced Monday.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday said crude oil production increased by 31,629 barrels per day (b/d) from 1.4mb/d in May 2024 to 1.5mb/d in June 2024. This was contained in its June 2024 Oil Production Status Report that the Commission released on its website.
Nigeria’s daily oil production rose by 25,000 barrels per day, increasing from 1.251 million barrels per day in May to 1.276mbpd in July.