Dangote Refinery has restarted its crude oil purchases from the United States to enhance its refining capacity and production levels. A Bloomberg report released on Wednesday indicates that a shipment containing two million barrels of WTI Midland crude from Chevron Corp. is scheduled for delivery to the refinery next month. This new acquisition follows a…
Aliko Dangote, Chairman of Dangote Group, has attributed the ongoing fuel scarcity in Nigeria to the inaction of retailers. He emphasized that over 500 million litres of fuel are currently stored in his tank farm, ready for distribution, yet the retailers responsible for purchasing and distributing the fuel have not come forward to collect it….
President of Dangote Group, Aliko Dangote, has said his 650,000 barrels per day capacity refinery was built without a single incentive from the Nigeria government. Dangote disclosed this at the ongoing Crude Oil Refinery Owners Association of Nigeria Summit in Lagos. The Africa richestman, who was represented by the Executive Director, Dangote Group, Engr Mansur…
ISSUES IN MY COUNTRY WITH LAI OMOTOLA. Topic: Five Reasons Why a Refinery May Never Work in Nigeria. Introduction A lot of independent businessmen and women secured licences and licences to refine crude oil in Nigeria. Motivation for this licence has always been the crude oil. Some even thought that once they secured licences, they…
Dangote Refinery has announced that it may be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to a lack of interest from local marketers in Nigeria. The indigenous oil company, which has a capacity of 650,000 barrels per day, reported that only 3 to 5 percent of petrol marketers are willing to…
Dangote Petroleum Refinery has clarified why it cannot set the price of petrol. In a statement released on Thursday, Anthony Chiejina, the Group Chief Branding and Communications Officer, explained that the market for Premium Motor Spirit (PMS) is heavily regulated, a fact well-known to all oil marketers and industry stakeholders. This regulation is the reason…
Nigerian oil traders said the Dangote refinery could lower the price of petrol to between 600 and 650 naira per liter depending on its production cost. The National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, disclosed this in a statement on Monday. His comment comes amid indications that the $20…
The Minister of State Petroleum Resources (oil) Heineken Lokpobiri, has met with the chairman and chief executive officer of Dangote Petroleum Refinery, Aliko Dangote, and the chief executive officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, (NMDPRA) The meeting was held on Monday, July 21, to resolve ongoing issues surrounding the Dangote…
