Business

PORT HARCOURT REFINERY BEGINS OPERATION, WARRI REFINERY 90% COMPLETED The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Giles-Harry, has announced that the Port-Harcourt refinery has begun production, while the Warri refinery is 90% complete. Giles-Harry revealed that the Port-Harcourt refinery, with a capacity of 60,000 barrels per day, has started the production process, …

An International Business Ideation Specialist, Light Shedrack, has said that Dangote Refinery and Petrochemicals failed to secure a feedstock agreement with International Oil Companies when he was building the refinery and the firm wants the federal government to bend the rules to the detriment of Nigerians. Shedrack said on Monday that any attempt to bend the regulations to favour Dangote …

FUEL SCARCITY BITES, HITS N990 A LITRE The lingering fuel shortages across the country appear to have defied all solutions as filling stations across the country continue to battle acute shortages. The horror has shot up petrol prices to an all-time high of N990/litre in Abuja and as high as N1,200/litre in far-flung cities up north. The frustrating development has …

The Alaba International Market in Lagos is reputed to be Nigeria’s largest and one of West Africa’s biggest electronic markets. Except Sundays and some public holidays, the Alaba International Market, located in Ojo Local Government Area of Lagos State, is always a beehive of activities. A typical street market that evolved over five decades, the electronic hub offers opportunities for …

TINUBU OWNS 17 OIL WELLS, REFINERY IN MALTA – MIYETTI ALLAH CHIEFTAIN Garus Gololo, coordinator of the Benue State chapter of the Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), has stated that fuel prices in the country will not go down anytime soon because of the “selfish” interest of President Bola Tinubu. Gololo, in an interview on ATP News, …

HOW BUHARI, LATE ABBA KYARI HINDERED ME FROM PURCHASING $2.5BN OIL FIELD – TONY ELUMELU Chairman of Heirs Holdings and UBA Group Plc, Mr Tony Elumelu has disclosed how Former President Muhammadu Buhari and his late Chief of Staff, Abba Kyari hindered him from purchasing a $2.5bn oilfield. Elumelu made this known in a chat with Financial Times. Speaking on …

DANGOTE ACCUSES IOCs, NIGERIAN GOVT AGENCY OF FRUSTRATING REFINERY The President and Chief Executive of Dangote Group, Aliko Dangote, has revealed that the Dangote Refinery’s crude oil supply problem lies with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the International Oil Companies (IOCs) in Nigeria. Africa’s richest man disclosed this in a statement on Thursday. He was responding to …

NIGERIA DOESN’T NEED FUEL IMPORTERS ANYMORE – REFINERS Owners of refineries in Nigeria have said that the country cannot continue to keep the businesses of fuel importers anymore, stating that Nigeria should be talking about fuel export at the moment. Speaking under the auspices of the Crude Oil Refiners Association of Nigeria, they stated this amid complaints by depot owners …

$20B DANGOTE REFINERY WILL DISRUPT EUROPE’S OIL INDUSTRY – OPEC The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil. OPEC in its newly released monthly Oil Market Report for June 2024 listed Dangote Refinery …

PORT HARCOURT REFINERY TO BECOME OPERATIONAL THIS MONTH – IPMAN The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the Port Harcourt refinery is on track to meet its August deadline for producing petroleum products and will be able to supply 10 to 12 million liters of petrol to marketers. The National Operations Controller of IPMAN, Zarma Mustapha, …