Nigeria’s Dangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) for marketers, bringing it down to N970 per litre. Anthony Chiejina, spokesperson for Dangote Group, shared this update in a statement on Sunday. The refinery, which has a capacity of 650,000 barrels per day, has decreased the petrol price by…
Dangote Refinery has restarted its crude oil purchases from the United States to enhance its refining capacity and production levels. A Bloomberg report released on Wednesday indicates that a shipment containing two million barrels of WTI Midland crude from Chevron Corp. is scheduled for delivery to the refinery next month. This new acquisition follows a…
Aliko Dangote, Chairman of Dangote Group, has attributed the ongoing fuel scarcity in Nigeria to the inaction of retailers. He emphasized that over 500 million litres of fuel are currently stored in his tank farm, ready for distribution, yet the retailers responsible for purchasing and distributing the fuel have not come forward to collect it….
Nigeria’s petroleum marketers have revealed that Dangote Refinery will be meeting with them on Tuesday and Wednesday. The Spokesperson of Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike disclosed this in an interview with Arise TV on Sunday. According to him, the more actions were taken in terms of petrol distribution, the price of…
Petroleum marketers have indicated that President Bola Tinubu has taken the advice of Aliko Dangote, the President of Dangote Group, by fully removing the petrol subsidy. Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association (PETROAN), shared this insight during an interview with journalists. His comments followed the recent increase in fuel prices…
President of Dangote Group, Aliko Dangote, has said his 650,000 barrels per day capacity refinery was built without a single incentive from the Nigeria government. Dangote disclosed this at the ongoing Crude Oil Refinery Owners Association of Nigeria Summit in Lagos. The Africa richestman, who was represented by the Executive Director, Dangote Group, Engr Mansur…
ISSUES IN MY COUNTRY WITH LAI OMOTOLA Why Dangote May Not Announce the Price of Fuel. Recently, Dangote Refinery commenced the lifting of premium motors spirit known as petrol. Quite a number of people across Nigeria celebrated the commencement of this lifting. It was a joyous moment when the Minister of Finance came in to…
Dangote Refinery has announced that it may be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to a lack of interest from local marketers in Nigeria. The indigenous oil company, which has a capacity of 650,000 barrels per day, reported that only 3 to 5 percent of petrol marketers are willing to…
Dangote Petroleum Refinery has clarified why it cannot set the price of petrol. In a statement released on Thursday, Anthony Chiejina, the Group Chief Branding and Communications Officer, explained that the market for Premium Motor Spirit (PMS) is heavily regulated, a fact well-known to all oil marketers and industry stakeholders. This regulation is the reason…
Johann Rupert of South Africa has surpassed Aliko Dangote, the President of the Dangote Group, to become the richest person in Africa. Dangote, who had maintained the top position for several years, saw his wealth decrease by $1.7 billion year-to-date, as reported in the latest Bloomberg Billionaires Index released on Wednesday. In contrast, Rupert’s net…
