Dangote Petroleum Refinery has closed its $1.6 billion initial public offering after drawing commitments from investors in 119 countries. The offer closed on Tuesday, October 27, 2026, and could become Africa’s largest stock market listing. The refinery secured between $1.5 billion and $1.6 billion in fully funded commitments from Nigerian and retail investors alone. Investors…
NNPC Limited has said it is ready to revive oil exploration in Borno State, more than two years after operations were suspended. The company made the position known after a meeting with Governor Babagana Zulum at Government House in Maiduguri on Wednesday. The NNPC delegation was led by its Non-Executive Chairman, Ahmadu Musa Kida. Group…
TotalEnergies EP Nigeria Limited has reaffirmed its long-term commitment to Nigeria, highlighting 70 years as a downstream operator and 67 years as an upstream operator in the country. Speaking on behalf of the company at the 2026 Association of Energy Correspondents of Nigeria, NAEC, Annual Energy Conference in Lagos with the theme “Access to Assets:…
The Managing Director of Rainoil Limited, Emmanuel Omuojine, has called for a shift towards modular refineries and market-driven pricing to strengthen energy security and competitiveness in Nigeria and across West Africa. Omuojine made this call during a high-level energy industry panel discussion, at the Association of Energy Correspondents of Nigeria, NAEC, Energy Conference 2026 held…
Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) has received another industry recognition at the Nigerian Association of Energy Correspondents (NAEC) Annual Energy Conference and Awards, marking it the second consecutive year the company has earned such recognition from the prestigious association for its contributions to Nigeria’s energy sector. SEEPCO received the prestigious, Government–Private…
Motorists have criticised the Nigerian National Petroleum Company Limited over its requirement that the ₦66 per litre petrol discount be accessed through the NNPC Fuel App, warning that the condition could shut out the very Nigerians the relief is meant to help. The complaints followed the federal government’s announcement that NNPC Retail would forgo its…
Nigeria’s oil regulator released 40 oil and gas blocks for bidding on Wednesday. The announcement was dated Oct 7. The round received approval from President Bola Tinubu, who also serves as minister of petroleum resources. The blocks cover land, shallow water and deepwater terrains. A detailed list and participation criteria will be published on a…
Nigerian National Petroleum Company Limited spent N11.2 trillion on pipeline surveillance and other receivables from the federation in 2025, a figure that has unsettled energy experts because it is larger than the N7.2 trillion profit the company reported for the same period. The state oil firm released its 2025 audited financial statement last week. Profit…
Dangote Refinery offers 20% of $1.6 billion IPO to East African investors Dangote Petroleum Refinery & Petrochemicals FZE is offering investors in East Africa access to nearly 20% of its initial public offering, with the regional offer expected to raise as much as $300.4 million. This was contained in an information memorandum released on Wednesday…
The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Mr. Adeleye Falade, has pledged to strengthen the company’s partnership with Coleman Technical Industries Limited, particularly in local content development and the expansion of Nigerian manufacturing capacity. Falade made the commitment during a tour of Coleman’s manufacturing facilities in Sagamu and Arepo, Ogun…
