Category: Petroleum

Dangote Refinery Receives Only 5 of 15 Crude Cargoes Under Naira Deal — CEO Raises Supply Concerns

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Dangote Refinery Receives Only 5 of 15 Crude Cargoes Under Naira Deal — CEO Raises Supply Concerns

The Dangote Petroleum Refinery has disclosed that it is currently receiving significantly fewer crude oil cargoes than expected under the Federal Government’s crude-for-naira arrangement, raising fresh concerns about feedstock adequacy for Africa’s largest refinery. The Chief Executive Officer of the refinery, David Bird, revealed that the facility is receiving just five crude cargoes monthly instead…

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Petroleum

Dangote Refinery Raises Petrol Price to N1,275/Litre in Latest Adjustment

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Dangote Refinery Raises Petrol Price to N1,275/Litre in Latest Adjustment

Nigeria’s fuel market has recorded another upward shift as the Dangote Refinery increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦1,245 per litre to ₦1,275 per litre. The latest adjustment marks yet another price review in March 2026, reflecting continued volatility in Nigeria’s downstream petroleum sector. Reports indicate that…

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Petroleum, Power and Energy

BREAKING: Dangote Refinery Cuts Petrol Price to N1,075 Per Litre, Diesel Drops to N1,430

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BREAKING: Dangote Refinery Cuts Petrol Price to N1,075 Per Litre, Diesel Drops to N1,430

Nigeria’s downstream petroleum market may witness a fresh wave of relief following a price reduction announced by the Dangote Petroleum Refinery for petrol and diesel. In a new pricing template released on March 10, 2026, the refinery reduced the gantry (ex-depot) price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,075 per litre,…

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Petroleum, Power and Energy

Dangote Refinery Buys Nigerian Crude at International Prices — CEO

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Dangote Refinery Buys Nigerian Crude at International Prices — CEO

The management of the Dangote Petroleum Refinery has disclosed that the refinery purchases crude oil from Nigeria at international market prices, despite the introduction of a crude-for-naira arrangement by the federal government. The Managing Director and Chief Executive Officer of the refinery, David Bird, made the clarification during a media chat, explaining that the refinery…

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Petroleum, Power and Energy

Dangote Refinery Raises Petrol Price to ₦1,175 per Litre

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Dangote Refinery Raises Petrol Price to ₦1,175 per Litre

Nigeria’s fuel market has recorded another major shift after the Dangote Petroleum Refinery increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre. The latest adjustment, communicated to petroleum marketers and depot operators on Monday, March 9, 2026, represents a significant jump from the ₦995 per litre price…

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Petroleum

BREAKING: Petrol Sells for ₦1,040 in Lagos, Ilorin and ₦1,080 in Abuja as Fuel Prices Surge

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BREAKING: Petrol Sells for ₦1,040 in Lagos, Ilorin and ₦1,080 in Abuja as Fuel Prices Surge

Petrol prices have surged again across major Nigerian cities, with motorists now buying Premium Motor Spirit (PMS) at about ₦1,040 per litre in Lagos and Ilorin, while prices in Abuja have climbed to around ₦1,080 per litre in several filling stations. The latest increase follows fresh adjustments in Nigeria’s downstream petroleum market after the Dangote…

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Petroleum

BREAKING NEWS: President Tinubu announces the historic resolution of the OPL 245 Dispute, Unlocks Major Deepwater Investment

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BREAKING NEWS: President Tinubu announces the historic resolution of the OPL 245 Dispute, Unlocks Major Deepwater Investment

President Bola Tinubu announced today the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL). The announcement was made at the meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi; the Chief Operating Officer, Guido Brusco; the Head of…

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Petroleum

Dangote Refinery Announces Nationwide Petrol Price of ₦739 per Litre at MRS Stations

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Dangote Refinery Announces Nationwide Petrol Price of ₦739 per Litre at MRS Stations

Dangote Petroleum Refinery has officially commenced nationwide sales of Premium Motor Spirit (PMS), commonly known as petrol, at a revised pump price of ₦739 per litre across all affiliated MRS Oil Nigeria Plc filling stations. In a statement released by the refinery, the price adjustment is part of ongoing efforts to make fuel more affordable…

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Petroleum

Dangote Begins 1.5 Billion-Litre Monthly Petrol Supply to End Nigeria’s Holiday Fuel Scarcity

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Dangote Begins 1.5 Billion-Litre Monthly Petrol Supply to End Nigeria’s Holiday Fuel Scarcity

The Dangote Petroleum Refinery has announced a major intervention in Nigeria’s downstream sector with plans to supply 1.5 billion litres of Premium Motor Spirit (PMS) monthly to the Nigerian market. The supply is scheduled to begin in December 2025 and continue through January 2026, an effort aimed at ensuring nationwide fuel availability during the festive…

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Petroleum

BREAKING: Cooking Gas Scarcity Worsens Across Nigeria as Prices Skyrocket

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BREAKING: Cooking Gas Scarcity Worsens Across Nigeria as Prices Skyrocket

A fresh wave of cooking gas scarcity has hit several states across Nigeria, forcing prices to soar to record highs and leaving many households stranded. In Lagos, Ibadan, Ogun, and parts of the North, residents now pay between ₦1,600 and ₦2,000 per kilogram of Liquefied Petroleum Gas (LPG), compared to around ₦1,000 barely weeks ago….

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News, Petroleum, Power and Energy