Nigeria imported $2.25bn fuel from Malta in nine years —Report
There was a geometric leap in 2023 when the country imported fuel worth $2.08bn.
Tag: Refinery
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36 oil blocks under concession to IOCs, others, says NNPCL
The blocks are classified into Oil Prospecting Licence and Oil Mining Licence. An OPL is granted by the government to an applicant company registered for exploration and production purposes,
Oyedele on target, sell those refineries now
Selling the refineries outright immediately to promote domestic refining is the only route to sustainably solving the refined petroleum products crisis.
Cabals benefiting from petrol imports frustrating local refineries —IPMAN
We have been waiting for Dangote refinery to come on stream. But if it comes on stream, what is going to be the difference? I’m made to understand that they will also buy crude at the international rate, they will refine it and when this is done at the international rate, we may still buy it at the imported rate, except there will be some form of cost control on this.
Foreign refineries process N2.39tn oil for Nigeria in 13 months
Foreign refineries processed crude oil valued at N2.39tn between March 2020 and March 2021 to ensure domestic supply of refined petroleum products in Nigeria as the country’s plants remained in a state of disrepair.
NNPC seeks investors to operate, maintain refineries
The Nigerian National Petroleum Corporation (NNPC) is soliciting expression of interest (EOI) from companies qualified to operate and maintain three state-owned oil refineries.
Seplat Petroleum, Waltersmith Refinery sign crude purchase agreement
Seplat Petroleum Development Company Plc, has signed a Crude Purchase Agreement (CPA) with Waltersmith Petroman Oil Limited.
Environmental due diligence essential for refinery assets
A well-structured due diligence process will identify conditions that affect the value of assets, and therefore, inform the negotiation and drafting of the agreement.
Senate set to probe NNPC’s $396m refineries’ repairs
Damilola Shittu – Abuja The Senate on Thursday agreed to probe the Nigerian National Petroleum Corporation (NNPC) over the $396m expended on turnaround maintenance of refineries in the country between 2013 and 2015. The red chamber also mandated the committees on Petroleum Downstream, Upstream and Gas to carry out a holistic investigation into the expenditure…