The Nigerian National Petroleum Company Limited (NNPCL) has successfully repaid 60% of a $1.036 billion loan that it took in…
Browsing: Oil & Gas/Mineral Resources
The Regional Communication Manager at ExxonMobil, Mr Ogechukwu Udeagha, says there is no oil spill from its facility in Akwa Ibom.
The Nigerian National Petroleum Company Limited (NNPC) has declared a net profit of N3.297 trillion at the close of the…
To clarify, we have never accused NNPC of not supplying us with crude. Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply obligation and ensure that we receive our full crude requirement from NNPC and the IOCs.
OPEC identified the Dangote Refinery as one of the key players poised to challenge traditional suppliers in Europe. The report underscores how the refinery’s increasing output, coupled with robust flows from the Middle East and new supplies from Mexico’s Olmeca refinery, could reshape the dynamics of the European oil market in the mid-term.
“As a government, we are committed to protecting our local industries. There is no two ways. We are committed to protecting all stakeholders in the oil sector; not just one company, not just one regulator, but every stakeholder deserves protection, which is the government’s responsibility.
“The decision to cap its equity participation at the paid-up sum was made and communicated to Dangote Refinery several months ago,” the spokesperson of the company Olufemi Soneye said in a statement.
“We are not criminals and we are not thieves. We will protect our dignity so we can serve this country,” Kyari declared.
“Another point that I think is important is that nobody knows the consumption in Nigeria of petroleum. We know we spend $600 million on fuel importion every month, but the issue here is that all the neighboring countries are benefiting.
“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria. If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated,” Obasanjo stated.