The Women in Energy Oil and Gas (WEOG) group in the Federal Capital Territory (FCT) held their August Leadership Series…
Browsing: NUPRC
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe has announced that the nation is…
Amid swirling rumours about his resignation, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed its commitment to fostering innovation in the oil and gas sector…
The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for notable progress in the conduct of the 2022–2023 Mini Bid Round and 2024 Licensing Round.
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.
“Dangote Refinery Should Be Fully Supported, Not Vilified. The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens.”
“The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving,” the statement read.
“As an example, we paid $96.23 per barrel for a cargo of Bonga crude grade in April (excluding transport). The price consisted of $90.15 dated Brent price + $5.08 NNPC premium (NSP) + $1 trader premium. In the same month, we were able to buy WTI at a dated Brent price of $90.15 + $0.93 trader premium including transport. When NNPC subsequently lowered its premium based on market feedback that it was too high, some traders then started asking us for a premium of up to $4m over and above the NSP for a cargo of Bonny Light,” Edwin said.
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has directed oil refiners in the country to provide monthly price quotes on crude supply.