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Oil & Gas - Page 32

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

Dangote Refinery To Start Processing Only Nigerian Oil By Year End

Business·News·Oil & Gas

Naira-for-Crude Deal To Last Six Months As Dangote Refinery Receives 400,000 Barrels Of Oil Daily

Naira-for-Crude: A Six-Month Deal at Dangote Refinery The Naira-for-crude deal, in which Nigeria’s National Petroleum Company Limited (NNPC) will supply crude oil to Dangote Refinery in exchange for naira payments, is set to last for six months, according to sources close to

October 8, 2024

Business·News·Oil & Gas·World News

Oil Prices Surge Amid Middle East Conflict Fears, Brent Crude Nears $80 Per Barrel

Oil Prices Rise on Middle East Tensions Global oil prices are climbing once again, driven by fears of escalating conflict in the Middle East. Brent crude, the global oil benchmark, inched closer to $80 per barrel on Monday, marking the continuation of

October 8, 2024

Business·News·Oil & Gas

NCDMB Highlights Positive Impacts Of Presidential Directives On Local Content In Nigeria’s Oil Gas Industry

The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had eliminated middlemen from the oil and gas industry value chain and contributed to shortening the oil industry contracting cycle to six months, courtesy of the three Presidential Directives

October 8, 2024

NCDMBExecutiveSecretaryatbreakfastmeetingwithmediaexecutivesinLagos copy x

Business·News·Oil & Gas

Local Content Implementation Doesn’t Increase Crude Oil Production Costs – NCDMB Boss

Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has debunked claims that the implementation of local content policy increases the cost of crude oil production in Nigeria. Engr Ogbe explained that the major factors affecting the cost

October 8, 2024

Business·News·Oil & Gas

NNPCL Ends Sole Off-taker Role For Dangote Refinery, Fuel Marketers To Buy Directly

NNPCL No Longer the Sole Off-taker from Dangote Refinery The Nigerian National Petroleum Company Limited (NNPCL) has announced that it will no longer serve as the exclusive middleman between Dangote Refinery and fuel marketers. This shift in policy allows marketers to now

October 7, 2024

Cooking Gas: The Fire Nigerians Can’t Afford To Keep Burning

Business·News·Oil & Gas

LCCI Commends Government’s VAT Exemptions On Diesel, Cooking Gas, Advocates For CNG Expansion

LCCI Supports VAT Exemption on Diesel and Cooking Gas The Lagos Chamber of Commerce and Industry (LCCI) has praised the federal government’s decision to exempt cooking gas and diesel from Value Added Tax (VAT). This move, according to the LCCI, will help

October 7, 2024

Dangote Refinery: Of Hopes, Drools And Jokes

Business·News·Oil & Gas

Dangote Refinery Set To Boost Nigeria’s Economy By Over $400bn In Six Years- Report

A report by Analysts Data Services and Resources (ADSR) Limited has predicted that the Dangote Refinery if operating optimally, will push Nigeria’s economy to $484.15 billion in the next six years. The multi-billion-dollar refinery, with a capacity of 650,000 barrels per day,

October 7, 2024

Dangote Refinery: NNPC Boss Denies Owning Blending Plant In Malta

Business·FEATURES·News·Oil & Gas

Why Dangote Refinery Must Not Become Another Monopoly

Launching the Dangote Refinery and Petrochemicals is a milestone in Nigeria’s petroleum industry. After 10 years of development, this refinery promises to breathe new life into a sector plagued by inefficiencies, from dormant public refineries to expensive fuel imports and subsidies. The

October 6, 2024

Nigeria Needs Improved Security, Investment To Achieve Over 2 mbpd Crude Oil Production – Report

Business·News·Oil & Gas

Naira-For-Crude Initiative Begins As Officials Remain Optimistic

The Nigerian Federal Government announced that it has officially begun selling crude oil and refined petroleum products in naira, an initiative that took effect on October 1, 2024. The move is aimed at reducing pressure on the country’s foreign exchange reserves and

October 6, 2024

Business·News·Oil & Gas

NNPCL Begins Crude Oil Sales In Naira To Dangote, Other Local Refineries

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has announced that the sale of crude oil in naira to Dangote Refinery and other local refiners has officially kicked off with effect from 1st October. Edun said the commencement

October 5, 2024

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 26th November 2025

What is the dollar-to-naira exchange rate on the black market,

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Oil & Gas - Page 32

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

Naira-for-Crude Deal To Last Six Months As Dangote Refinery Receives 400,000 Barrels Of Oil Daily

Oil Prices Surge Amid Middle East Conflict Fears, Brent Crude Nears $80 Per Barrel

NCDMB Highlights Positive Impacts Of Presidential Directives On Local Content In Nigeria’s Oil Gas Industry

Local Content Implementation Doesn’t Increase Crude Oil Production Costs – NCDMB Boss

NNPCL Ends Sole Off-taker Role For Dangote Refinery, Fuel Marketers To Buy Directly

LCCI Commends Government’s VAT Exemptions On Diesel, Cooking Gas, Advocates For CNG Expansion

Dangote Refinery Set To Boost Nigeria’s Economy By Over $400bn In Six Years- Report

Why Dangote Refinery Must Not Become Another Monopoly

Naira-For-Crude Initiative Begins As Officials Remain Optimistic

NNPCL Begins Crude Oil Sales In Naira To Dangote, Other Local Refineries

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Oil & Gas - Page 32

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