Global energy and commodity price reporting agency Argus Media has introduced new intraday price assessments for European gasoline, providing the market with enhanced visibility and real-time insight into price movements throughout the trading day. The development, announced by Argus Vice President, James Gooder, during the international energy trading panel at the 2025 OTL Africa Downstream…
The Federal High Court in Abuja, on Wednesday, adjourned a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE against Nigeria National Petroleum Company, NNPC, Limited and others over oil import licence dispute until November 5 for hearing. The matter, which was earlier fixed for today for hearing, could not proceed due to the absence…
The Major Energy Marketers Association of Nigeria (MEMAN) says the removal of fuel subsidy has ushered in a new era of deregulation in the downstream sector, paving the way for innovative business models such as Energy-as-a-Service (EaaS), integrated multi-energy hubs, Virtual Power Plants (VPPs), and peer-to-peer (P2P) energy trading. The association has therefore urged industry…
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has urged government to address the nation’s aging pipelines, inefficient ports, and infrastructure gaps. DAPPMAN Chairperson, Mrs Moroti Adedoyin-Adeyinka, made the appeal on Wednesday during the OTL Africa Downstream Week 2025 in Lagos. She was represented by Mrs Ngozi Ekeoma, Group Managing Director of Nepal…
Liquefied Petroleum Gas marketers have set a target to raise Nigeria’s annual LPG supply to six million metric tonnes in the coming years as part of efforts to deepen the use of cleaner energy across the country. The outgoing President of the Nigerian Association of Liquefied Petroleum Gas Marketers, Oladapo Olatunbosun, disclosed this at the…
The Federal Government has declared its full support for Dangote Refinery’s plan to boost production capacity to 1.4 million barrels per day (bpd), describing the project as a “game-changer” for Nigeria, West Africa, and the entire continent. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made this known on Monday in Lagos while speaking…
The NNPC Ltd has reiterated its commitment to the development and revamping of downstream across the country to enhance collaboration and drive efficiency in the sector. Group Chief Executive Officer, Engr. Bayo Ojulari, stated this at the opening ceremony of the 2025 OTL Africa Downstream Energy Week in Lagos. NNPC boss who was represented at…
The minister of state for petroleum Resources (Oil), Senator Heineken Lokpobiri says Nigeria’s downstream sector is gradually stabilising, following the removal of fuel subsidy and the liberalisation of petroleum product pricing, describing the development as a bold and necessary step to attract private sector investment. The Minister, who made this known at the opening session…
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said Nigeria will demand a higher oil production quota at the next meeting of the Organisation of Petroleum Exporting Countries scheduled for November. Lokpobiri disclosed this on Tuesday in Abuja during an interview with the media team of the Nigerian Upstream Petroleum Regulatory…
The Federal Government, through the Federal Accounts Allocation Committee, has extended the ongoing probe and reconciliation of payments made by revenue-generating agencies, including the Nigerian National Petroleum Company Limited, to December 2024, following unresolved discrepancies in remittances. This comes as the company has submitted its response on an alleged revenue under remittance of $42.37bn, an…
