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.
Nigeria’s fuel shortage appears to have worsened, yesterday, as filling stations ran out of stocks, thus shutting their gates against motorists and other users of the product.
The Nigerian Union of Petroleum and Natural Gas Workers, NUPENG and the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN have called on President Bola Tinubu to initiate an investigation into allegations that International Oil Companies are plotting to undermine the Dangote Refinery and Petrochemicals.
Nigeria, the biggest oil producer in Africa, is considering ways to curb soaring inflation, including by giving the central bank powers to use gold to boost reserves.